Every business owner needs to keep up with developments in technology. A number of new technological innovations have reached the market in recent years, which are making it easier for entrepreneurs to perform certain functions.
Some of the newest products that business owners should be aware of are data loggers. They are regularly used to maximize efficiency and keep costs in check. They also help businesses with real-time inventory management.
Data loggers have become even more beneficial for business owners during the COVID-19 pandemic. This should hardly be surprising, considering that big data is changing the nature of many business practices. It is important to understand what they are and how they can support the goals of your business.
Businesses Are Discovering More Benefits of Data Loggers During the Pandemic
Increases in the data logger market show no signs of slowing down. Although COVID-19 has negatively affected many industries, the data logger market has seen a slight uptick in business that can be directly attributed to the pandemic. In this article, we will take a closer look at the market, describe what data logger devices hold the biggest share of the market, reveal where they are being used, list key manufacturing companies, and show how COVID-19 has helped this market expand. You will also get a sense of the reasons that more entrepreneurs are investing in them.
What Data Loggers Do
A data logger is a portable, battery-operated device. Depending on the design, it may have either internal sensors or external probes that are used to sample various environmental conditions. Data loggers are used to monitor such conditions as temperature, humidity, air pressure, voltage, or current. Some designs are capable of recording multiple conditions, such as Dickson’s. A data logger can be programmed to sample these conditions at a specific rate and will store the data collected on a microprocessor. The amount of memory depends on the number of conditions being tracked and the sample rate of each. Some data loggers are equipped to provide real-time data reports while others are designed for data retrieval at a later time. The data can be downloaded directly to a computer, or via wifi to a smartphone for analysis. Data loggers are an important tool used in many different applications but industries that are heavily regulated and require proof of compliance comprise the biggest part of the market. An example is the food and beverage industry. Data loggers are used by this industry to ensure that shipping conditions remain constant in order to prevent perishable food from spoiling before reaching its destination.
The Data Logger Market In Review
According to a report published in April 2021, the Compound Annual Growth Rate (CAGR) of the data logger market was estimated at 7.4% between 2019 and 2024. The report pointed to a few key factors that will affect the growth of the data logger market. As mentioned above, the continual adoption of these devices for regulated industries that require compliance verification is one of the main positive effects. Additionally, the evolution of the data logger technology is acknowledged for its strong influence on growth within the market. Such innovations as smaller units with bigger features have brought much in the way of attention to the usefulness of data loggers. The accuracy of these digital monitoring devices is another plus that will affect the growth of this market. Data loggers are far more durable, reliable, and precise when compared to analog measuring tools. They are effective accompanying cargo or sitting in cold storage. The only negative noted in the market report is the upfront cost of a data logger which will deter many small businesses from adopting the technology at this time.
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The Popular Types of Products
Mechanical data loggers currently lead market share. Following close behind are electronic data loggers and wireless data loggers.
Where Data Loggers Are Used
Data loggers are being used for three primary applications, according to the Global Data Logger Market Overview. Topping the list is the oil and gas industry. Next are the transportation industry, and the environmental industry.
The Key Players
The data logger industry is currently led by Onset HOBO, with Testo second. The balance of the key players is National Instruments Corporation, Omega Engineering Inc., Rotronic, Ammonit Measurement GMBH, ELPRO-BUCHS AG, Omron, Visalia, Dickson, HIOKI, Sensitech, Fluke, Delta-T Devices, and Dwyer Instruments.
The Regional Market Segments
The regional markets where data loggers are used the most include North America (United States, Canada, Mexico), Europe (France, Germany, United Kingdom, Italy, Russia, the rest of Europe), Asia Pacific (China, Japan, India, Korea, Southeast Asia, Australia), South America (Brazil, Columbia, Argentina, the rest of South America), and the Middle East and Africa (Saudi Arabia, Egypt, UAE, South Africa, the rest of the Middle East and Africa).
How COVID-19 Has Helped The Data Logger Market
COVID-19 was first detected in December 2019 in Wuhan, China. It quickly spread to all corners of the world. In addition to China, several other countries have suffered tremendously from this pandemic including Italy, Spain, France, Iran, Germany, Brazil, the Republic of Korea, and the United States. COVID-19 forced lockdowns, business closures, protocols that involved capacity limits, social distancing, hand sanitizing, mask-wearing, and many other tools to try to slow the spread of the disease. Vaccines were created and have continued to be administered. As these vaccines rolled out, the cold chain industry was hard at work ensuring that these sensitive assets safely arrived at their destinations. Data loggers became the tool of choice to accompany shipments during vaccine distribution. Vaccines typically require cold storage, and since one particular COVID-19 vaccine had to be stored in extreme conditions, data loggers proved to be the most effective way to monitor these very cold temperatures. With coronavirus not slowing down significantly, and other variants of the virus surfacing, the need for data loggers to monitor vaccine transport and storage conditions will not end anytime soon.
Data Loggers Are Invaluable for Business Owners
Data loggers are incredible tools. It is no wonder that more business owners are investing in them. They can do an important job unattended, for long periods without needing rest. As long as their batteries are fully charged and they have been programmed to collect samples at the desired rate, you can set them and forget them. The technology used by data loggers is fairly basic but it is vital for industries that require evidence to demonstrate compliance with regulations has been met and maintained. If quality assurance and cost-effectiveness is crucial for your business, then you can’t overlook the benefits of data loggers.
Data loggers come in various types and, depending on the environmental conditions being monitored, can track more than just temperature, if needed. COVID-19 has had an impact on the data logger market and industry reports indicate that the market had been experiencing growth before the pandemic. The need to get vaccines to their destinations safely introduced a new market to the data logger industry. Things have worked out very well and the growth in the data logger market will continue to take place with COVID-19 giving it an added boost.