Expect the market share for data loggers to grow by 1.82 billion USD from 2019 to 2024. This news of a historic increase coincides with the market’s growth momentum hitting an expected acceleration at a CAGR of 6.96%. As a result, this and other growth news points to various impacts on the post-COVID-19 pandemic market that lead to sizable growth and gains.
Data Logger Vender Field
The fragmented market for data loggers occurs across several companies. Furthermore, this level of fragmentation will only accelerate further during the expected forecast period. These results point toward a highly competitive marketplace projected to gain more competitors shortly.
With several vendors offering a variety of data loggers, this forecast period will see an even further rise in technological advancements, partnerships, and acquisitions. As a result, the market will continue to intensify for the foreseeable future.
Results of Competition
The increase in demand for different types and quantities of data loggers results in a large influx of capital investments. In addition, with further requests for control solutions, testing regulation of resources, and measurements, there is an increase in growth opportunities.
There will be challenges that put the growth of this market at risk. The primary dangers any company might face involving a high capital investment required for software solutions, price wars between vendors, and the likely emergence of low-quality or less durable loggers in the market could damage the industry’s growth.
To make the best out of the growth period of the data logger market, vendors diversify their focus between slow-growing and fast-growing segments. However, for now, provide the most attention to fast-growing segments while offering enough to the slow-growing elements to maintain any current position.
Segments of Data Logger Market 2020 – 2024
The global data logger market has segmentation into various parts. In further detail, we will explain their value in the current market and which segments are seeing the most growth.
Data logger types vary between automated and stand-alone systems. However, for the 2021 market, the stand-alone system segment generated the most revenue. This segment reflects the increase in demand for stand-alone data logger systems in various sectors, including food and beverage, industrial, water and wastewater management, oil and gas, and automotive.
Keeping an eye on the general trends of these industries can aid further in seeing the trends of growth in the marketplace. In addition, the shifts in these fields can show potential changes in the data logger marketplace.
The various data logger measurement methods become split into pressure, power, humidity, temperature, and others. In the 2021 market, the pressure data logger segment dominated the global market, following the general trend from the prior year.
However, this came from a high dependency on aviation, oil and gas, and marine industries that use the data loggers for safety and to maintain efficiency. These will continue to be where most growth of the pressure data logger segment is focused.
The data logger geography segments are APAC, North America, Europe, and South America. An expected 51% market growth will come from the APAC segment. The electronics and automotive industries are the main factors in the APAC data logger segment’s development.
With the growth of the APAC segment being dependent on the automotive industries, it reflects the general expansion of data loggers. While many trends in the market dictate this growth, the automotive industry is one of the heaviest influencers. Therefore, keeping up with the automotive industry trends can greatly help predict general growth in the currently most significant segments of the data logger market.
Dickson Data Logger Growth
Dickson Inc. is one of the forefront major data logger vendors. According to Dickson Data, the company offers numerous data loggers that can be found directly on its website.
Companies like Dickson provide a large selection of data loggers. Their options as vendors include a DSB display logger, a DWE cloud-enabled data logger, an atlas Bluetooth data logger, a pressure data logger, an emerald Bluetooth data logger, a compact data logger, and a high-temperature data logger.
With Dickson acting as one of the spearheads in the growing data loggers market, they make an excellent example of the industry’s trend. With its focus on expanding in the fast-growing areas of the flourishing market, Dickson will likely see high levels of returns and growth in its data logger segments. Moreover, maintaining this growth is expected up to and through the 2024 market.
Data Logger Growth in the Future
Anticipate data acquisition systems to see continued growth in a wide range of old and new areas in a post-COVID-19 market. The market will continue to rise in competition and specialization as its value grows. As a result, companies like Dickson Inc. can see both significant gains and an increase in challenges in the coming years.
The most difficult challenge that will increase the gap between data loggers will be the continued need to raise capital to build software solutions. In addition, the marketplace that will continue to gain more competition will strain smaller companies in the coming months and years. As a result, this trend will not let up anytime soon.
Larger companies like Dickson will have an opportunity for significant gains if investing capital in the right areas. With an influx of competition and many lower-quality data loggers expected to flood the market, companies that manage to market themselves as quality brands with reliable products will have an edge.
Other market trends will continue to grow and shift in the coming years, but growth in the data loggers market is assured to succeed. However, the potential for lower quality and less durable data loggers to flood the market is hampering this growth. Therefore, compared to the high volume of low-quality competition that will spring up in the coming years, the quality of a company’s data loggers will be one of the most significant deciding factors in its potential growth.