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The chart recorder market size is forecast to increase by USD 464.5 million at a CAGR of 5.9% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for water purification systems in various industries. These systems require precise monitoring of parameters such as turbidity, dissolved oxygen, and sterilization processes. Power plants also rely heavily on chart recorders for equipment maintenance and performance optimization. The trend towards web-based chart recorders offers enhanced data accessibility and flexibility. However, the availability of viable substitutes, including data loggers and digital recorders, poses a challenge to market growth. In addition, the need for electrical wire coating to ensure durability and resistance to harsh environments is a key consideration for chart recorder manufacturers. The single channel chart recorders segment is expected to dominate the market due to its affordability and ease of use. Overall, the market is poised for steady growth, driven by the increasing demand for accurate and reliable data recording solutions across various industries.
The chart recorder market encompasses a wide range of instruments designed for acquiring, recording, and analyzing electrical signals and process parameters in various industries. These instruments play a crucial role in manufacturing, science, engineering labs, and other sectors where continuous monitoring and recording of data is essential. Chart recorders are used to measure and record parameters such as temperature, pressure, flow, pH, humidity, vibration, movement, diagnostics, statistical analysis, and more. Environmental testing is another area where chart recorders find extensive use. They are used to monitor and record environmental parameters such as temperature, humidity, and air quality.
Furthermore, these instruments help in ensuring compliance with regulatory requirements and maintaining optimal conditions for various applications. Chart recorders are available in various configurations, including single-channel and multi-channel options. They offer advanced features such as statistical analysis and data logging, making them versatile tools for data acquisition and analysis. In summary, the chart recorder market caters to the growing demand for instruments that enable continuous monitoring and recording of electrical signals and process parameters. These instruments find extensive use in various industries, including manufacturing, science, engineering labs, water purification, and environmental testing, among others. They offer high accuracy, precision, and advanced features, making them an essential tool for data acquisition and analysis.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Digital chart recorders segment is estimated to witness significant growth during the forecast period. Digital chart recorders constitute an evolving sector within the chart recorder market, characterized by innovative technologies and expanded capabilities. This device boasts dual-function keys and a clear display, ensuring a user-friendly experience.
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The Digital chart recorders segment was the largest segment and was valued at USD 724.90 million in 2018. Real-time data can be viewed in both digital and trend formats, ensuring versatility and accuracy in monitoring. The front-panel USB port enables seamless data transfer to a PC via a flash memory card, streamlining data management and analysis. Multi-channel strip chart recorders, circular chart recorders, data loggers, and automated data acquisition systems are other essential components of the digital chart recorder market. Multi-pen recorders and continuous analog records continue to hold significance, complementing digital advancements. These devices offer valuable insights for industries, facilitating informed decision-making and process optimization.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The chart recorder market in North America is witnessing significant growth due to technological innovations and the increasing demand for advanced data recording solutions. The new product offers a user-friendly platform for real-time monitoring and recording of temperature, humidity, and barometric pressure data. Users can access this information via a web-based interface or integrate the device into their existing ecosystem, ensuring flexibility and convenience.
Furthermore, advancements in chart recorder technology include the transition from mechanical movement to digital recorders, which provide higher accuracy and ease of use. Additionally, ultraviolet (UV) recorders using photosensitive paper have gained popularity due to their ability to record data in extreme environments. These developments underscore the market's evolution towards more precise, versatile, and technologically advanced solutions for measuring and recording various types of data.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Global manufacturing volume growth is notably driving market growth. The market is experiencing notable expansion due to the escalating manufacturing sector activity across the globe. Furthermore, the sector demonstrated a 1.0% growth from the third quarter of 2023, indicating a transition towards a more active production phase following a plateau since mid-2022. This revival in manufacturing activity is a significant catalyst for the global chart recorder market.
Furthermore, as production volumes grow, the necessity for meticulous monitoring and documentation of various parameters, including temperature, pressure, and humidity, becomes increasingly vital for ensuring optimal process outcomes. In science and engineering labs, chart recorders play a pivotal role in data acquisition (DAQ) systems, capturing electrical signals and process signals with high resolution to generate measurement charts. This information is essential for continuous process improvement and quality assurance in various industries. Thus, such factors are driving the growth of the market during the forecast period.
The introduction of web-based chart recorders is the key trend in the market. The global chart recorder market is undergoing a substantial evolution, driven by the emergence of web-based chart recorders. These advanced devices are redefining data collection, storage, and analysis processes in various industries, including water purification, power plants, and environmental testing.
Furthermore, this innovative device offers enhanced functionality and user convenience, enabling real-time monitoring and visualization of environmental parameters like temperature, humidity, and barometric pressure. One of its notable features is the expanded internal non-volatile storage capacity, making it an ideal choice for applications requiring extensive data logging. The user-friendly web-based interface facilitates seamless integration into existing ecosystems. Overall, the iServer 2 Series is poised to revolutionize the way industries manage and analyze critical data. Thus, such trends will shape the growth of the market during the forecast period.
Availability of viable substitutes is the major challenge that affects the growth of the market. The market caters to various industries requiring real-time monitoring and analysis of parameters such as pressure, flow, pH, humidity, vibration, movement, diagnostics, and statistical analysis. These tools are essential for industries like oil and gas, pharmaceuticals, food and beverage, and environmental monitoring, among others. The market faces challenges due to the availability of alternative data logging solutions.
However, chart recorders offer advanced features, including visualization tools, enhanced data processing capabilities, and compatibility with various sensors. The xLDR is 50% lighter than existing recorders yet maintains the same crash protection for critical data like audio, flight data, video, and GPS parameters. It also offers features like increased data collection rates, auto-recording, and pilot-control capabilities, making it a preferred choice for industries with stringent data recording requirements. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd. - The company offers chart recorder such as C1300 circular chart recorder, C1900 circular chart recorder, C1950 pasteurizer recorder and others.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the realm of scientific and engineering laboratories, the market for chart recorders continues to thrive, catering to the demand for data acquisition (DAQ) systems that capture and visualize electrical signals and process signals from various industries. These instruments are integral to measuring parameters such as temperature, pressure, flow, pH, humidity, vibration, movement, and diagnostics, among others. High-resolution chart recorders offer statistical analysis and visualization tools, enabling users to gain valuable insights from measurement charts.
Furthermore, applications of chart recorders span across diverse sectors, including water purification, power plants, equipment maintenance, and environmental testing. They are essential in monitoring and analyzing data from dispersed systems and marine installations, as well as large engines and strong equipment. Input signals are captured using recording arms, which can be mechanical or electrostatic or thermal means, and converted into digital data using analog-to-digital converters. Independent inputs and frequencies are supported, ensuring versatility and flexibility in various applications. Ultraviolet recorders with photosensitive paper, are utilized in specific applications, such as monitoring dissolved oxygen levels and sterilization processes. The market for chart recorders continues to evolve, with advancements in technology leading to automated data acquisition and micro-sized recorders, offering enhanced functionality and convenience.
Market Scope |
|
Report Coverage |
Details |
Page number |
206 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.9% |
Market growth 2024-2028 |
USD 464.5 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.5 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key countries |
US, China, Canada, Germany, Japan, UK, India, France, Italy, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., BrainChild Electronic Co. Ltd., British Rototherm Group, CHINO Works America Inc, Cole Parmer Instrument Co. LLC, Dickson Inc., Dwyer Instruments LLC, Endress Hauser Group Services AG, Future Design Controls Inc., Harvard Apparatus, HIOKI E.E. Corp., Honeywell International Inc., JUMO India Pvt. Ltd., KOBOLD Instrumentatie BV, Linseis Messgerate GmbH, Monarch Instrument, Omega Engineering Inc., Siemens AG, Watlow Electric Manufacturing Co., and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by Application
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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