The portable industrial data collectors and analyzers market size has the potential to grow by USD 97.75 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. The report analyzes the market’s competitive landscape. It offers information on several market vendors, including AB SKF, ABB Ltd., ALS Ltd., Emerson Electric Co., FLIR Systems Inc., Fortive Corp., General Electric Co., Mitsubishi Electric Corp., Parker Hannifin Corp., and Rockwell Automation Inc. Furthermore, this report provides a detailed analysis of the market by end-user (oil and gas, chemical and petrochemical, automotive, water and wastewater treatment, and others) and geography (APAC, Europe, MEA, North America, and South America).
Market Overview
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Market Competitive Analysis
The portable industrial data collectors and analyzers market is fragmented. AB SKF, ABB Ltd., and ALS Ltd. are some of the major market participants. Although ease of predictive maintenance through compact and portable devices will offer immense growth opportunities, frequent interruption due to signal interference will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this portable industrial data collectors and analyzers market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this portable industrial data collectors and analyzers market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- AB SKF
- ABB Ltd.
- ALS Ltd.
- Emerson Electric Co.
- FLIR Systems Inc.
- Fortive Corp.
- General Electric Co.
- Mitsubishi Electric Corp.
- Parker Hannifin Corp.
- Rockwell Automation Inc.
Portable Industrial Data Collectors And Analyzers Market: Segmentation by Geographic
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APAC will offer several growth opportunities to market vendors during the forecast period. The rise in the energy demand will significantly drive portable industrial data collectors and analyzers market growth in this region over the forecast period.
31% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for portable industrial data collectors and analyzers in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Portable Industrial Data Collectors And Analyzers Market: Segmentation by End-user
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The emergence of smart field in the oil and gas industry is raising the scope for the use of technologically advanced field devices like sensors and wireless communication modules. This, in turn, increases the scope for the use of master devices like portable industrial data collectors and analyzers, which help in monitoring the equipment in the industries. The primary factor that is driving the adoption of portable data collectors and analyzers is the increasing concern toward the safety of the plant and environment in the oil and gas industry. This report provides an accurate prediction of the contribution of all the segments to the growth of the portable industrial data collectors and analyzers market size.
Portable Industrial Data Collectors And Analyzers Market: Key Drivers And Trends
Industries such as oil and gas, mining, water and wastewater, and food and beverage increasingly use motors and play an important role in the functioning of the plant. This raises the need for effective motor monitoring, which offers better efficiency at the plant and decreases downtime. According to Technavio’s market research analysis, the ease of predictive maintenance through compact and portable devices will be one of the significant global portable industrial data collectors and analyzers market drivers during the forecast period. Devices such as compact and portable data collectors and analyzers are fitted with small wireless monitors and are not reliant on human interference for data collection. The ease in data collection and computation regarding the health of the motor helps the foreseeing the faults in the motor, resulting in the effective functioning of predictive maintenance. Our market research analysts predict that this market will grow at a CAGR of almost 4% during the forecast period.
The increase in upgrade options for portable industrial data collectors and analyzers is one of the critical portable industrial data collectors and analyzers market trends in the coming years. One of the popular vendors, Rezges, has introduced three upgrade options such as multi-plane balancer, advanced cross-channel analyzer, and full-featured DCX diagnostic data collector, including automated fault diagnostics. A major benefit of the availability of upgrade options is these choices raise the scope of usage and effectiveness of portable industrial data collectors and analyzers.
Portable Industrial Data Collectors And Analyzers Market: Key Highlights Of The Report For 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive portable industrial data collectors and analyzers market growth during the next five years
- Precise estimation of the portable industrial data collectors and analyzers market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the portable industrial data collectors and analyzers industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of portable industrial data collectors and analyzers market vendors
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