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The global industrial process recorders market analysis predicts the market to grow steadily during the next four years and post a CAGR of about 3% by 2021. This market research identifies the increasing need for business optimization as one of the primary industrial process recorders market drivers. With the increasing costs for maintenance, shortage of natural resources, low productivity, and the introduction of stringent regulatory policies, companies in various manufacturing sectors have realized the need for optimizing their business processes. Electrical machines used in industries are constantly prone to wear and tear, which makes it essential to record machine performance at regular intervals, creating the demand for industrial process recorders. Moreover, the need to follow guidelines implemented by various regulatory bodies also creates the demand for recorders, fuelling market growth in the coming years.
In terms of geographical regions, the Americas will be the major revenue contributor to the industrial process recorders market share throughout the predicted period. This mainly attributed to the growth of the automation industry in this region. Additionally, the growth of the oil and gas and power sectors in countries such as the US will also fuel the growth of the market in the Americas.
Comprising of a large number of small and medium-sized players, this market appears to be highly fragmented. The international players increase their revenue shares using both the direct sales and distributor channels. Though the major market players offer high-quality products, the small-sized vendors offer products at comparative prices posing a stiff challenge to the established vendors. There is intense price competition in the market which limits vendor investment toward R&D. As a result, there is very less product differentiation which will intensify the level of competition in the paperless recorders market. According to analysts, the international vendors will start acquiring regional or domestic vendors and will grow inorganically during the coming years.
According to this industrial process recorders market report, the leading vendors in the market are -
The other prominent vendors in the market are Ambetronics Engineers, AMETEK, Analog Devices, Aum Controls and Equipment, PTC, Brainchild Electronic, CD Automation, Dickson, Future Design Controls, Linseis, and Rockwell Automation.
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During 2016, the paperless recorders segment accounted for the major shares and dominated this market. Factors such as the increasing number of complex processes and reliable data analytics and the growth of the major end-user industries such as food and beverage, water treatment, and power, will contribute significantly to the growth of the paperless recorders market in the coming years.
This market study estimates that the power industry will be the major end-user segment of the industrial process recorders market throughout the forecast period. This is mainly due to the constant need to record various parameters including power consumption, quality, energy use pattern, performance optimization, peak energy demand, and voltage and current levels.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Appendix
PART 16: Explore Technavio
Tags: data visualization, process control, automation process, automation engineering, automation industry size, automation industry outlook,
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