“The sequence of events recorder market is projected to grow at a CAGR of 4.7% from 2021 to 2026.”    

The sequence of events recorder market is projected to reach USD 31 million by 2026 from an estimated USD 25 million in 2021, at a CAGR of 4.7% during the forecast period. Growing focus on the effective use of power resources worldwide and increasing emphasis on reducing industrial downtime and the global energy costs are factors driving the growth of the sequence of events recorder market. Moreover, growing investments in data center infrastructures and ongoing replacement of aging power infrastructures with technologically advanced power equipment are factors expected to offer lucrative opportunities for the growth of the market from 2021 to 2026. However, the easy availability of substitutes of sequence of events recorders hinders the growth of the market.

“The rack mounted segment, by mount type, is expected to be the fastest growing market from 2021 to 2026.”

The mount type segment is categorized into rack mounted and rail mounted. The rack mounted segment accounts for the largest market share, and is expected to grow at the fastest rate during the forecast period since they are easy to mount within racks, thereby leading to space saving. They enable improved tracking down of issues and are easy to update. These recorders make maintenance and troubleshooting activities efficient by enabling time saving.

“The power generation segment, by end user, is expected to be the largest market from 2021 to 2026”

The edn user segment is categorized data centers, power generation, manufacturing, and others. The power generation sub-segment is expected to  be the largest market during the forecast period. The power generation industry is a key user of automation products. It comprises a large number of transformers, feeders, busbars, and several other assets to ensure uninterrupted power supply to end users. A power system is expected to carry out power generation, transmission, and distribution functions. Thus, power plants, transformers, transmission lines, substations, distribution lines, and distribution transformers are required to ensure smooth conduct of these functions. It is essential to monitor these functions for flexibility, reliability, and stability of power supply systems. Sequence of events recorders can be used for monitoring the status of plants from the operator level to the managerial level.

“Asia Pacific: The fastest growing region in the sequence of events recorder market.”  

Asia Pacific is expected to grow at the highest CAGR during the forecast period. The Asia Pacific region includes for China, Australia, Japan, India, South Korea, Singapore, and the Rest of Asia Pacific. The rest of Asia Pacific includes Thailand, Indonesia, the Philippines, and Malaysia, among others. Factors such as increasing penetration of the Internet and cloud computing, growing economy, and ongoing infrastructure development projects contribute to risen demand for data centers in the region. This, in turn, contributes to the growth of the sequence of events recorder market in Asia Pacific. The key vendors providing data center power solutions in Asia Pacific are ABB, Schneider Electric, and Delta Electronics. Countries such as Australia and China are witnessing increased investments in BFSI, retail, healthcare, manufacturing, and telecommunications verticals that have resulted in the development and economic growth in Asia Pacific. The construction of data centers in Asia Pacific is comparatively higher than other regions of the world owing to the largely untapped market areas for data center providers. The implementation of 5G has commenced in several countries of the region that will have a significant impact on the market. Telecommunication providers are anticipated to partner with service providers in establishing edge data centers throughout the region. According to Cisco, Asia Pacific will use twice the amount of mobile data per month than North America and Western Europe combined by 2021. The spread of internet-enabled devices is expected to continue increasing the demand for data centers in this region, thereby fueling the growth of the sequence of events recorder market in Asia Pacific

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

• By Company Type: Tier 1- 40%, Tier 2- 35%, and Tier 3- 25%
• By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
• By Region: North America- 20%, Asia Pacific- 35%, Europe- 20%, Middle East & Africa – 15%, ,  and South America-10%

*Others includes sales managers, engineers, and regional managers.

The tiers of the companies are defined based on their total revenue as of 2019. Tier 1: USD 1 billion, Tier 2: From USD 1 billion to USD 500 million, and Tier 3: < USD 500 million

The sequence of events recorder market is dominated by a few major players that have a wide regional presence. The leading players in the sequence of events recorder market are AMETEK (US), Qualitrol Corp. (US), Emerson (US), and Yokogawa Electric Corporation (Japan).

Study Coverage:

The report defines, describes, and forecasts the sequence of events recorder market, by mount type, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the sequence of events recorder market.

Key Benefits of Buying the Report

• The report identifies and addresses the key markets sequence of events recorder (SER), which would help SER companies, and suppliers review the growth in demand.
• The report helps service providers understand the pulse of the market and provides insights into the drivers, restraints, opportunities, and challenges specific to the market.
• The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.