The data logger market is expected to register a CAGR of 7.4% during the forecast period 2019-2024. A sensor in combination with a microprocessor is being equipped inside the logger to enable the data logging device to achieve its purpose. Various types of data loggers and sensors are available in the market with the ability to accommodate a broad range of requirements for industries across the globe. —
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- The high demand for measurement and control operations in the industry have to lead to a significant boost to the market. The growing need for the controlled process to improve efficiency as well as to increase the equipment life has substantially accelerated market adoption.
- The high upfront cost associated with it acts as a restraint for the market. The huge costs associated with the technology restricts the small manufacturers from adopting it and thus adversely affects the market adoption rates.
Scope of the Report
A data logger is a battery-powered device used for recording and storing information. Various data loggers are designed to record information related to the environment in which the logger is positioned, thereby enabling users to obtain a record of events that occur over a specified time. Data loggers record sensor data over longer periods of time for monitoring, testing, and analyzing asset health and performance.
Key Market Trends
Oil and Gas is Expected to Hold a Major Market Share
- With the evolving environment of the current oilfield, there is a massive requirement for quick access to real-time data to make informed drilling and geological decisions. Surface data logging services are engineered which helps you reduce the nonproductive time (NPT) and overall risk.
- The operator needs a much wider picture to drill safer, faster, and better. In addition to traditional mud logging, real-time drilling monitoring, cuttings, and gas analyses provide the operator with vital insight about the well conditions, formation pressures, gas, and geology.
- With real-time data, expert reservoir insight and interpretation, and engineered drilling solutions, the operator can help to maximize the value of your deepwater, unconventionals and mature field assets every step of the way.
- Precise drilling measurements allow for enhanced decision-making and performance. Advanced gas analysis and extraction services provide absolute fluid characterization. Cuttings analysis, mineralogical and source rock/maturity rock cuttings at the well site enable timely formation evaluation decisions and can help place the wellbore in the reservoir target zone and the sweet spot.
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Due to Early Adoption of Controlling Devices, North America is Expected to Hold a Major Market Share.
- With the logistics industry gaining huge popularity in the United States, it has become essential for service providers to enhance the quality of their service in order to gain a competitive advantage from other players in the market.
- With the addition of data loggers, the measurement readings of vibration and handling shock (drop height) environment of distribution packaging can help to reduce fatal situations and thus, improve customer satisfaction.
- There has been a massive growth in the adoption rate of automation in the industries in the United States. The huge adoption rates of industrial robots is an indicator to showcase the extent of automation.
- The industries are becoming aware of the advantages of data generated by the machines a well as started noticing the benefits if its analysis. This will contribute effectively to the adoption of Data Loggers due to their function of collecting the data.
The market consists of several major manufacturers. Due to the increased competition, none of the players currently hold a major market share. Due to the importance of data to the industry, the data logger market is viewed as a great investment opportunity due to the huge benefits that the manufacturers can gain. This is pushing the market towards a fragmented scenario. Companies are continuously trying to evolve their products in order to gain competitive advantage and to cater to changing consumer demands.
- May 2018 - NI announced FlexLogger configuration based data logging software for validation test. With intuitive workflows and integrated data management, FlexLogger helps automotive test departments quickly capture accurate, well-documented data to verify system functionality in real-world conditions and comply with strict government regulations.
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