CHICAGO, April 1, 2021 /PRNewswire/ -- According to the new market research report "Sequence of Events Recorder Market by Mount type (Rack mounted, Rail mounted), End user (Data Center, Power Generation, Manufacturing, Others (Hospitals, Laboratories, Petrochemicals, and Pharmaceutical industries)), Region- Global Forecast to 2026", published by MarketsandMarkets, the Sequence of Events Recorder Market size will grow toUSD 31 million by 2026 (forecast year) from USD 25 million in 2021 (estimated year), at a CAGR of 4.7% during the forecast period. The increasing focus on the effective usage of power resources and the ongoing efforts to reduce downtime and energy costs in different industries are factors driving the growth of the Sequence of Events Recorder Market. Moreover, growing investments in data center infrastructures and ongoing replacement of aging power infrastructures with technologically advanced power equipment are factors expected to offer lucrative opportunities for the growth of the market. However, the easy availability of substitutes of sequence of events recorders hinders the growth of the market.
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The rack mounted segment is expected to be the fastest growing Sequence of Events Recorder Market, by mount type, during the forecast period
The rack mounted segment of the Sequence of Events Recorder Market is estimated to grow at the fastest rate during the forecast period. This is mainly because of rack-mounted sequence of events recorders are easy to mount within racks, thereby leading to space saving. They enable improved tracking down of issues and are easy to update. These recorders make maintenance and troubleshooting activities efficient by enabling time saving. Rack-mounted sequence of events recorders also enable improved airflow by keeping different equipment evenly spaced without creating any airflow obstructions.
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The power generation segment is expected to dominate the Sequence of Events Recorder Market, by end user, during the forecast period.
The power generation industry is a key user of automation products. It comprises a large number of transformers, feeders, busbars, and several other assets to ensure uninterrupted power supply to end users. A power system is expected to carry out power generation, transmission, and distribution functions. Thus, power plants, transformers, transmission lines, substations, distribution lines, and distribution transformers are required to ensure smooth conduct of these functions. It is essential to monitor these functions for flexibility, reliability, and stability of power supply systems.
Asia Pacific: The largest Sequence of Events Recorder Market.
In this report, the Sequence of Events Recorder Market has been analyzed with respect to 5 regions, namely, North America, Asia Pacific, South America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the global Sequence of Events Recorder Market between 2021 and 2026. Factors such as increasing penetration of the Internet and cloud computing, growing economy, and ongoing infrastructure development projects contribute to risen demand for data centers in the region. This, in turn, contributes to the growth of the Sequence of Events Recorder Market in Asia Pacific. Countries such as Australia and China are witnessing increased investments in BFSI, retail, healthcare, manufacturing, and telecommunications verticals that have resulted in the development and economic growth in Asia Pacific. The construction of data centers in Asia Pacific is comparatively higher than other regions of the world owing to the largely untapped market areas for data center providers.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Sequence of Events Recorder Market. Some of the key players are AMETEK(US), Qualitrol Corp.(US), Emerson(US), Yokogawa Electric Corporation(Japan).The leading players are adopting various strategies to increase their share in the Sequence of Events Recorder Market. Expansions has been a widely adopted strategy by the major players in the Sequence of Events Recorder Market.
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