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According to the market research analysts at Technavio, the industrial data acquisition systems market will grow steadily and will post a moderate CAGR of more than 5% over the forecast period. The transition from traditional data acquisition systems to PC-based systems is one of the key factors driving the growth prospects for this market during the predicted period. Technological innovations have led to the development of PC-based data acquisition system. This transition provides flexibility to the end users, along with cost and time reduction. Moreover, in the PC-based data acquisition system, engineers can customize the software, based on the requirement, which increases their overall productivity.
In this industry research report, the analysts have deduced factors such as the development of cloud-based acquisition system to spur the growth prospects for this market over the next four years. With the majority of industries focusing on IoT, most of the devices like sensors are getting interconnected, generating large volume data that will be stored in the cloud. The data stored in the cloud can be accessed anytime from a remote location using a mobile device. It has been observed that the cloud reduces the data storage cost by more than 50%. However, security has been a primary concern for the adoption of cloud-based data acquisition system. With advances in technologies, security standards have been developed, such as Wi-Fi WPA2 encryption and HTTPS secure socket, which is expected to reduce data breach, leading to this market’s growth in the future.
The global industrial data acquisition systems market is highly competitive owing to the presence of several domestic, regional, and international vendors. The vendors provide both data acquisition software as well as hardware, and also independent hardware and software. To compete with the existing availability of low-cost data acquisition system in developing countries, large international vendors have established production plants in these countries. The competition among the vendors is likely to intensify with increasing mergers and acquisitions and market consolidation.
The leading vendors in the market are -
Other prominent vendors in the market include ABB, Acromag, ADLINK Technology, Advantech, Alstom, Bruel & Kjaer, Campbell Scientific, Data Translation, DEWETRON, DynamicSignals, Emerson Electric, Fluke, General Electric, HIOKI, Honeywell, MathWorks, Measurement Computing, Pentek, Rockwell Automation, Schneider Electric, and Siemens.
During 2015, the external chassis and modules segment dominated the market and accounted for close to 73% of the market share in terms of revenue. The modular data acquisition system is equipped with flexible software and efficient signal conditioning and analogue-to-digital converter. Efficient signal conditioning provides high accuracy, removal of noise, and safety. The flexible software enables a single data acquisition system to be used for multiple applications. These factors will aid in this segment’s growth until the end of 2020.
The Americas led the global industrial data acquisitions systems market and is likely to reach more than USD 439 million by 2020. The US was the largest revenue contributor to the industrial data acquisition systems in the region. The growth of this market in the region is attributed to the adoption of data acquisition system in the electrical and automotive industries. Moreover, an augmented demand for industrial data acquisition system is expected from Brazil, Mexico, and Argentina, which is anticipated to drive this market’s growth in the Americas.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by products
PART 07: Market segmentation by end-users
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Appendix
PART 16: Explore Technavio
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