Global portable
industrial data collectors and analyzers market are expected to grow at a significant
CAGR in the upcoming period as the scope and its applications are rising
enormously across the globe. Portable industrial data collectors and analyzers
are designed to allow users to establish an inclusive periodic condition-monitoring
program. It helps professionals to enhance the uptime and reliability of the
motorized systems their businesses depend upon.
The factors that are playing a major role in
the growth of the market are the prognostic maintenance through portable and
compact devices and the growing enhanced options for portable industrial data
analyzers and collectors. However, the presence of substitutes may restrain the
overall market in the years to come. Portable industrial data collector and
analyzer market is segmented based on product types, end-user, and region.
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Wired data acquisition and wireless
data acquisition are the product types that could be explored in portable
industrial data collectors and analyzers market in the forecast period. The
market may be categorized based on end-users like water and wastewater
treatment industry, oil and gas industry, automotive industry, chemical and
petrochemical industry and others that could be explored in the forecast
period. The oil and gas industry sector accounted for the substantial share of
portable industrial data collectors and analyzers and is estimated to lead the
overall market in the years to come.
Globally, North America accounted for
the substantial market share of portable industrial data collectors and
analyzers and is estimated to lead the overall market in the years to come. The
reason behind the overall market growth could be the presence of key manufacturers
in the region and the presence of developed infrastructure with the latest
technology. The United States is a major consumer of portable industrial data
collectors and analyzers in this region.
Europe and the Asia Pacific are also
estimated to have a positive influence on future growth. Europe is the second
largest region with significant market share. However, Asia Pacific is
estimated to grow at the highest CAGR in the forecast period. The developing
countries like India and China are the major consumers of portable industrial
data collectors and analyzers in this region. The key players of portable
industrial data collectors and analyzers market are SKF, ABB, Rockwell
Automation, AZIMA DLI, General Electric, and Emerson Electric. These players are
concentrating on inorganic growth to sustain themselves amidst fierce
competition.
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