Data Logger Market Size, Share, Industry Analysis - Key Market Dynamics and Trends

The data logger market size has grown strongly in recent years. It will grow from $7.89 billion in 2023 to $8.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased data availability, evolution of machine learning algorithms, focus on business intelligence, regulatory compliance requirements, cross-industry applications.

The data logger market size is expected to see strong growth in the next few years. It will grow to $10.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increased emphasis on real-time data analysis, advancements in natural language processing (nlp), greater integration with artificial intelligence (AI), focus on explainable ai in data mining, expanding scope in healthcare analytics. Major trends in the forecast period include technological advancements in data processing, augmented analytics, real-time data mining, graph-based data mining, enhanced data privacy and security measures.

Market Overview -
A data logger is an electronic device that records data over time or about location, either with a built-in instrument or sensor or via external instruments and sensors. Data loggers are used in various applications, such as environmental monitoring, health data logging, and scientific experimental testing.

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Surging Demand for Data Driving Momentum in the Data Logger Market
The increasing demand for data is expected to propel the growth of the data logger market going forward. Data refers to information that is collected, recorded, and stored for analysis or future reference. The increasing need for data collection and monitoring across various industries has driven the demand for data loggers, which play a pivotal role in gathering, storing, and analyzing information over time. As industries recognize the value of data in enhancing operations, ensuring compliance, and optimizing processes, the demand for data loggers is expected to continue to rise. For instance, in June 2023, according to the UK Parliament, the supply of data scientists from universities was unlikely to exceed 10,000 per year, yet there were potentially at least 178,000 unfilled data specialist roles. Therefore, the increasing demand for data is driving the growth of the data logger market.

Competitive Landscape -
Major companies operating in the data logger market report are Robert Bosch GHbh, Thermo Fisher Scientific Inc., ABB Ltd., Dickson, Live International Corporation, Biogen Inc., MicroDAQ, Fluke Corporation, Xylem Inc., Keysight Technologies, Analog Devices Inc., Omega Engineering Inc., Mesa Labs Inc., Dwyer Instruments Ltd., Delphiin Technology AG, DIGITRON ITALIA SRL , Chauvi*n Arnoux Inc., Pico Technology, Tecnosoft srl, AEMC Instruments, KIMOCOREA.CO.LTD., Madge Tech Inc., Lascar Electronics, ThermoWorks, TMI Orion, G-Tek Corporation, Brainchild Electronic Co Ltd., Elab A/S, GE Valprobe

Vehicle Data Logger Setting New Standards in Efficiency and Adaptability
Major companies operating in the Data Logger market are developing innovative technologies such as TRX D8 2.0 to increase their profitability in the market. TRX D8 2.0 is a vehicle data logger that is intended to collect and process data from the upcoming generation of radar, lidar, and camera sensors while the vehicle is in motion. For instance, in June 2023, Klas, an Ireland-based, advanced networking and compute technologies provider company launched the TRX D8 2.0. It is the first adaptable vehicle data logging solution to support PCIe and network-based logging with up to 200Gbps of data logging write speeds and up to 240TB of storage. The TRX D8 2.0 is built on Intel's 10th Gen Xeon-D processor, designed to operate in high ambient air temperatures and to withstand the extremes of temperature, vibration, and shock. It plays a significant role in the data logger market by providing a reliable and efficient solution for logging and processing data from various sources, such as cameras, lidar, and radar sensors. Its adaptability and rugged design make it suitable for various applications, and its modular architecture allows for easy integration into different R&D test platforms.

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Key Segments -
The data logger market covered in this report is segmented -
1) By Type : Electronic Data Logger , Wireless Data Logger, Mechanical Data Logger
2) By Measurement: Temperature, Pressure, Humidity, Power
3) By Channel : Single Channel, Multi Channel
4) By Industry: Manufacturing , Automotive , Oil & Gas, Energy & Power

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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