The most recent study conducted by Report Ocean, titled “Global Sequence of Events Recorder Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Sequence of Events Recorder . The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Sequence of Events Recorder Market is valued approximately at USD 23.9 million in 2020 and is anticipated to grow with a healthy growth rate of more than 4.7% over the forecast period 2021-2027. The sequence of events recorded by the Sequence of Event Recorder (Occurrence of Faults and Normalization) in the plant or process. It’s a sophisticated surveillance device. It can be used to monitor the status of the plant from the operator to the executive level. It successfully tracks all events without skipping any and protects against coercion. The increased focus on efficient use of power resources, as well as ongoing initiatives in various industries to reduce downtime and energy costs, are driving the growth of the sequence of events recorder market.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Furthermore, rising data center investments and the ongoing replacement of existing utility infrastructures with technologically advanced power equipment are factors to expected offer lucrative opportunities for the growth of the market. For instance, as per the International Energy Agency (IEA), the global energy market is focused on new capital projects to replace ageing power plants and meet the world’s rising demand for power. In 2009, the total installed power generation capacity around the world was 4,957 GW.
Gross capacity additions of 5,900 GW are expected to be completed by 2035. As a result of the increased demand for efficient global power consumption control, sequence of events recorders has been installed in larger numbers to ensure continuous power supply around the clock. However, Easy availability of substitutes, may impede market growth over the forecast period of 2021-2027.
Geographically, Asia Pacific is holding the largest market shares of Sequence of Events Recorder. Factor such cloud computing, growing economy, ongoing infrastructure development projects and as increasing penetration of the Internet contribute to risen demand for data centers. ABB, Schneider Electric, and Delta Electronics are the leading providers of data center power solutions in Asia Pacific. Increased investments in healthcare, manufacturing, BFSI, retail, and telecommunications verticals have resulted in Asia Pacific development and economic growth in countries including Australia and China.
Major market player included in this report are:
Schweitzer Engineering Laboratories
Yokogawa Electric Corporation
Cyber Sciences
Ronan Engineering Company
Pacific Microsystems
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E-MAX Instruments
General Electric
Rockwell Automation
Schneider Electric
Mitsubishi Electric
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Mount Type:
Rank Mounted
Rail Mounted
By End User:
Data Centers
Power Generation
Manufacturing
Others
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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