Global Info Research has released a new study titled Data Acquisition Analysis and Forecast 2021-2025, which provides critical insights and gives clients a competitive advantage. The data acquisition market was valued at 1.96 billion in 2019, and it is expected to reach 2.73 billion by 2025, registering a CAGR of 7.28% during the forecast period (2020 – 2025).This analysis focuses on the major worldwide Web Access Management Software Concentrate companies, to define, characterise, and evaluate the market value, market share, market competitive landscape, and recent developments.
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Data acquisition systems play a crucial role in real-time decision making in the industrial sector. As companies evolve toward a data-centric approach in production and operations to maintain a competitive edge while facilitating the users to access the data at any time, irrespective of the location, data acquisitions systems have evolved from mere processing systems to the key to achieve the complete benefits of automation.
– One of the major drivers of the data acquisition market is the promising growth of the Ethernet. Industrial Ethernet has been growing faster than traditional field buses for a number of years and has now overtaken field buses.
– This demand has been augmented by the growing need for faster internet speeds, seamless integration of factory installations, the adoption of IoT, and industrial controls. Such trends have been instrumental in driving the demand for data acquisition systems.- Moreover, the adoption of factory automation and smart manufacturing across the world is a major growth driver of the data acquisitions market. These include the tracking of multiple system parameters, as well as monitoring a multitude of data sources while exchanging data in real-time, which includes PLCs, databases, maintenance applications, and existing data acquisition systems in order to gain greater visibility to the machine, as well as floor operations.
– While North America dominated the market for data acquisition systems, the favorable government reforms, robust industrial automation adoption, and smart manufacturing initializes are expected to augment the market in the European region to attain a greater market share, over the forecast period. This growth is anticipated to be enabled by the economies of Germany and the United Kingdom that are adopting the next-generation of industrial solutions.
– Higher implementation costs however can be a factor that challenges the growth of the market.
Scope of the Report
Data acquisition is the process of sampling signals that measure real world physical conditions and converting the resulting samples into digital numeric values that can be manipulated by a computer.
Key Market Trends
Human Machine Interface Accounts for Significant Share in the Market
– HMIs are used in various locations, such as process control, factory floor, machines, portable handheld devices, etc. Applications of this technology include various appliances, automotive, machine health monitoring, and industrial automation, among others.- An HMI solution not only improves the productivity of the operator but also provides insights into system control and maintenance. For instance, the HMI function of setting off alarms provides visual indicators of a machines issue and severity.
– Further, technologies, such as Open Platform Communications Unified Architecture, integrated into PC-based machine controls have allowed the safe transmission of encrypted data from machine to cloud and enterprise-level systems.
– Owing to the broadening of its functionality, through the integration with PLC applications or PC-based multi-user systems, HMI technology has also found increased adoption in the market.- Moreover, the increasing adoption of Industrial IoT coupled with these benefits of HMI is expected to drive the market growth.
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United States Presently Holds the Largest Market Share
– The United States is on the verge of the fourth industrial revolution, where data is being extensively used for production and integration with a wide range of manufacturing systems across the supply chain.- The country has been one of the leading automotive markets in the world and is home to over 13 major auto manufacturers. The automotive manufacturing industry has been one of the largest revenue generators for the country in the manufacturing sector.
– Industrial automation is the primary driving factor, which is expected to drive the demand for the DAQ systems as the increasing adoption of controlling processes without human interference is heavily reliant on data to provide instructions and hence any minor misdirection can lead to drastic losses to the industry.- The United States is a key market for factory automation and the installation of advanced devices and equipment within the North American region. The demand for advanced manufacturing technologies would further enhance the demand for DAQ products in the market.
The data acquisition market is fragmented the major companies which are operating in the market try to eliminate the competition and improve their capabilities by means of either acquisition or strategic mergers. Some key players in the market include ABB Ltd, Advantech Co. Ltd, Agilent Technologies, Campbell Scientific Inc., Data Translation Inc., Schneider Electric SE, Honeywell International, Siemens AG, Rockwell Automation Inc., MathWorks Corporation, General Electric Ltd, Omron Corporation, Yokogawa Electric Co., Emerson Electric Co., and others.
Some key developments in the market include:
– February 2019 – Advantech completed 80% acquisition in Omron Nohgata, With this acquisition, Advantech company will effectively expand its embedded system market share in Japan and enhance its localized manufacturing services capability. Advantech further envisions cooperation with OMRON Corporation in IoT platform development.- April 2018 – ABB and Hewlett Packard Enterprise (HPE) formed a partnership to combine ABBs digital manufacturing system, ABB Ability, with HPEs IT solutions. The partnership aims to provide manufacturers with actionable insights from significant amounts of industrial data. The purpose is to increase the efficiency and flexibility of manufacturing operations. In the future, owing to this partnership, it is expected that key players from different markets will come together to offer greater benefits to their customers.
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All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply-chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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