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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.