Automotive Data Logger Market to Witness Astonishing Growth by 2025
Automotive Data Logger Market to Witness Astonishing Growth by 2025
The Automotive Data Logger Market is projected to grow at a CAGR of 7.0% during the forecast period and is estimated to be USD 3.1 billion in 2020 and reach USD 4.4 billion by 2025. The market growth is primarily driven by factors such as the increase in the government norms related to vehicle noise and emissions which is leading to higher use of data loggers at the regulatory bodies’ and OEMs’ end, and the rising demand for sophisticated vehicles with complex architecture that is increasing its demand at the service stations’ end.
Owing to the emergence of newer technologies in the automotive industry along with the growing demand for electric cars, the data logger market has started to prosper. Regional adoption of these technologies depends on governmental norms and emission regulations along with customer preference. Moreover, vehicle manufacturers are offering additional advanced features in vehicles to acquire more customers and boost profitability, thereby inflating the growth of the automotive data logger market. The automotive data logger market in the Europe region is growing at the fastest rate, followed by North America, Rest of the World, and Asia Oceania. North America is estimated to have the highest market share because of the region’s fast advancements on the technology front and the governing bodies pushing OEMs to make smarter and efficient vehicles.
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The ADAS & safety segment is estimated to be the fastest growing market, in terms of value, in the automotive data logger market. The safety of the vehicle, driver, passengers, and pedestrians is the primary focus of various OEMs and regulatory boards. With the growth in the number of vehicles along with economic development, traffic on the roads is growing significantly and is likely to keep growing in the years to come. With the increasing speed of the vehicles, the roads have become more vulnerable to accidents. Accidents at high speeds could be fatal for the occupants of the vehicle as well as the surrounding vehicles and pedestrians. Hence, governments, regulatory bodies, and associations are keen on making automobiles safer for the occupants, pedestrians, and the surroundings. Stringent passenger safety regulations have been implemented in the developed countries. Developing countries such as China, Brazil, and India are currently formulating mandates for passenger safety in vehicles. These circumstances and social awareness have ensured the quick growth of the ADAS market. With this rapid growth, the chances of a system failure of these applications also increase proportionately, thus increasing the market for automotive data loggers.
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Key Market Players:
The automotive data logger market is dominated by a few globally-established players such as Aptiv (ireland), Vector Informatik (Germany), Continental (Germany), Racelogic (US), and National Instruments (US).
Ethernet is expected to gain high momentum in the automotive data logger market soon. The industry is said to jump directly from CAN FD technology to Ethernet as the preferred bus system. However, trained workforce available in the industry for this technology is currently very limited, and thus, the growth of this market is sluggish. Extensive efforts are being undertaken around the globe to create a well-trained labor force to unlock the maximum benefits of Ethernet; and hence, the data loggers supporting this bus will see the highest growth by 2025.
COVID-19 impact on automotive data logger market:
Major data logger providers such as Continental have announced the suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for automotive data logger is expected to decline in 2020. Manufacturers are expected to adjust production to prevent bottlenecks and plan production according to demand from OEMs and their franchised service centers. Major automotive data logger providers lost revenue in Q1 2020. As the resumption of vehicle production plants, associated R&D centers, and vehicle service centers are not expected in the immediate future due to the severity of the pandemic, especially in the US and major European countries, tier 1 players expect a further decline in revenue in the rest of the quarters of 2020. For instance, Horiba’s sales in the automotive test system segment decreased by 8.4% year-on-year and operating income decreased by 64.4% during the first quarter of 2020. As per the company’s released statement, the decline in sales is majorly due to the stagnation of corporate activities affected by the spread of COVID-19, sales of emission measurement systems and others declined in the Americas and Europe. Also, automotive data logger providers are facing disruptions in supply chains as countries are in states of lockdowns to prevent the spread of the disease. Thus, the market for automotive data logger is estimated to undergo a declining phase in 2020.
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