Automotive Data Logger Market Will Reach USD 5,770.5 Million By 2030
Discover the projected growth of the automotive data logger market, reaching $5,770.5 million by 2030, driven by technological advancements.
Maria Yardena
The worldwide automotive data logger market achieved a valuation of USD 3,587.3 million in 2023 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2030. This growth trajectory is projected to lead to a market value of USD 5,770.5 million by the year 2030.
This can be credited to the rising addition of compact, lightweight, and smart electrical and electronic systems in passenger vehicles, armed with the growing requirement for tracking and analyzing real-time car data to ensure vehicle and passenger safety.
Worldwide OEMs of automotive data logging equipment are paying more and more attention to the system enrichment that would attract more customers and offer more convenience to users.
The breakthrough features are the swift and flexible hardware technologies, together with the enhanced and roomy dashboard customization options. For instance, in September 2019, Racelogic Ltd, an effective GNSS data logger, introduced VBOX Touch offering
precision at the global level.
Regulatory bodies are the fastest-rising category, growing at a CAGR of 7.6% during the projection period. This can be ascribed to the fact that the market is going ahead in the direction of self-driving and eco-friendly vehicles.
As a result, outdated regulations and rules must be updated, and new laws and regulations must be established. To accomplish this, regulatory bodies will need to gain a thorough understanding of the functionality of these modern vehicles, necessitating the use of data loggers at their testing facilities.
In 2023, the pre-sales category leads the automotive data logger industry, with a revenue share of approximately 75%. This is mainly because data loggers are extensively utilized in the automotive market at this stage because of their comfort of use and the comprehensibility and dependability of the gathered information.
The Controller Area Network (CAN) and Controller Area Network Flexible Data (CAN FD) categories dominated the market in 2023, capturing the largest market share of 40% based on channel. CAN and CAN FD are data communication protocols commonly utilized for transmitting sensor data and control information over two-wire connections between various components of electronic instrumentation and control systems.
During the projection period, the Asia-Pacific region is estimated to be the fastest-growing industry, growing at a CAGR of 7.8%. In the past few years, APAC has arrived as a center for the acceptance of enhanced features in automobiles. Industrialization and infrastructure growth in the region are creating many opportunities for automotive OEMs.
Additionally, with the surge in the acceptance of enhanced electric components in car architecture and during the testing of cars before their commercialization, the industry is set to experience a boom in the continent.
Source: P&S Intelligence
