About Industrial Process Recorders
Process recorders are used for continuous monitoring of system maintenance, process parameters, and process optimization of industrial applications. These recorders accept analog inputs from multiple devices. The input data are then accessed and analyzed through communication protocols for real-time and FTP uploads. Analyzed data are then converted into digital signals with data converters. New technological advancements such as fuzzy logic have increased the data storage capacity of recorders.
Technavio’s analysts forecast the global industrial process recorders market to grow at a CAGR of 3.04% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial process recorders market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of industrial process recorders.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Process Recorders Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial process recorders market: ABB, Fuji Electric, Honeywell International, Siemens, and Yokogawa
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
Commenting on the report, an analyst from Technavio’s team said: “The current trend of cloud computing is expected to raise the adoption rate of cloud-based acquisition systems in most of the developed countries in the next five years. The rising number of IIoT-enabled devices have increased the flexibility for field managers to monitor and control industrial recorders through smart devices from remote locations. All the generated data are stored in the cloud instead of low-capacity local memory devices.”
According to the report, business optimization has now become an essential requirement for any industry. Rising maintenance cost, shortage of natural resources, low productivity, and increasing regulatory policies are the few factors that have prompted the need for business optimization.
Further, the report states that all the industries follow a macroeconomic cycle. Therefore, the demand for any industrial products is highly dependent on the economic performance. The reduction in crude oil price in 2014-2015 resulted in a very low capital spending in industrial sectors during the period. Consequently, the industrial process recorders market also witnessed a flat growth between 2014 and 2016. In addition, due to the economic slowdown, many vendors found disruption in payment and supply chain systems, which also affected business operations.
ABB, Fuji Electric, Honeywell International, Siemens, Yokogawa, Ambetronics Engineers, AMETEK, Analog Devices, Aum Controls and Equipment, PTC, Brainchild Electronic, CD Automation, Dickson, Future Design Controls, Linseis, Rockwell Automation.
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