Industrial data acquisition systems: Key market research findings
- Growing use of Ethernet-based data acquisition systems
- Emergence of Wi-Fi-based data acquisition systems
- Leading vendors in the market are AMETEK, Keysight Technologies, National Instruments, Spectris, and Yokogawa Electric
Technavio has released a new report on the global industrial data acquisition systems market, which is expected to grow at a CAGR of around 5% between 2016 and 2020. Ethernet has become a major network protocol for data transfer in industries owing to its low costs and easy integration. Vendors are providing data acquisition systems integrated with Ethernet, which is resulting in high speed data transfer and acquisition. Another development in the market include USB-based data acquisition systems which offer benefits such as auto-discovery, ease of use, and flexibility. The low cost of USB-based data acquisition system with free software for graphing and data logging has surged their demand among electrical and automotive industries. APAC will be the fastest-growing region in this market and is anticipated to occupy more than 38% of eth total market share by 2020. Much of this region’s growth will be due to the high demand for data acquisition systems for renewable energy power generation.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Wireless data acquisition systems are gaining popularity in the market which enables data collection for remote monitoring, operation, and control of field instruments. Factors such as security enhancement and reliability of the Wi-Fi networks, such as WPA2 data encryption are contributing to the increased use of wireless data acquisition systems. The new wireless data acquisition system is incorporated with built-in signal conditioning and high network security, which collects data with ease in real time,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
The external chassis and modules segment dominated the market and accounted for over 73% of the market share in terms of revenue during 2015. The modular data acquisition system is equipped with flexible software and efficient signal conditioning and analogue-to-digital converter. The efficient signal conditioning offers 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 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.
A more detailed analysis is available in the Technavio report, Global Industrial Data Acquisition Systems Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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