Data Acquisition System Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, India, Japan, Australia & New Zealand, South Korea, Brazil, Mexico, Argentina, UAE, Saudi Arabia, Israel, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3406
Data Acquisition System Market size will register high gains from 2019 to 2025 led by increase in adoption of Industrial IoT (IIoT), rising demand for smart factory solutions, and rapid evolution of Industry 4.0. The increase in the adoption of industrial automation technologies is another factor fueling market growth. The growing focus on asset condition monitoring in manufacturing companies to cope up with the increasing competition in the manufacturing industry and improving financial performance by closely examining the manufacturing consistency of operations will also support the data acquisition system market growth. The need for remotely monitoring data irrespective of the time and location is also playing a key role in the evolution of data acquisition systems.
A data acquisition system is designed to seamlessly collect the data from processes and devices in manufacturing facilities, research laboratories, and commercial sites for generating valuable insights for monitoring, control, and analysis applications. The data acquisition system improves the accuracy of the measurement system to improve the overall performance of the manufacturing system. The systems reduce data redundancy by eliminating useless data, which will help manufacturing companies to make informed decisions. The system has built-in circuitry to perform signal conditioning, which will reduce the noise and boost weaker signals to make them more immune to the noise. Data acquisition systems also help in reducing data entry, storage, and retrieval costs by centrally managing the collected data. The data collected by the system is more secured as compared to traditional data collection methods through the integration of advanced network security applications.
Data acquisition systems involve data systems, which are complex, difficult, and time-consuming and involve high costs to design the hardware and software. A data acquisition system’s performance is solely dependent on the databases. The damage of databases will virtually affect all application programs. The migration from traditional data collection system involves huge costs, which may resist the SMEs from the adoption of data acquisition systems. The increase in cyberattacks, which can affect the whole data acquisition system is also a big challenge. The lack of skilled workforce working in manufacturing facilities can also be a key factor affecting the market growth.
North America holds the major share due to the rapid adoption of industrial automation and smart manufacturing initiatives. The National Institute of Standards and Technology (NIST) of the U.S. runs Manufacturing USA, which is a network of 14 Institutes that supports co-operative research on advanced manufacturing technologies. These institutes are public-private partnerships, which work toward the advancement of the manufacturing industry in the U.S. through innovation, education, and collaboration. The manufacturing companies in the region are shifting toward the IoT-based manufacturing facilities to improve their overall operations. The data acquisition systems allow these manufacturing companies to take accurate decisions for their critical processes. Many data acquisition system providers are expanding their market presence to the U.S. For instance, in May 2019, Kistler, a leading provider of modular solutions in dynamic measurement technology, expanded its global presence to the U.S. with KiDAQ data acquisition system. This expansion helped the company in tapping the growing market in the country.
Asia Pacific is a promising market for data acquisition systems due to supportive government initiatives, an increase in industrial automation, and wider adoption of SCADA, PLC, and HMI technologies. The governments in emerging economies, such as India and China, are supporting smart manufacturing through initiatives such as ‘Make in India’ and ‘Made in China 2025’. For instance, in 2018, the Chinese government selected 97 pilot projects to implement smart manufacturing projects under the government initiative ‘Made in China 2025’ to promote the implementation of the industrial IoT network. The robust development of the network and manufacturing infrastructure in the region is fueling market growth. The major technology companies are expanding their businesses in the region to support the growing smart factory adoption in the region. For instance, in April 2019, Panasonic expanded its smart factory solution business in India. This expansion helped in accelerating the adoption of smart factory practices in the country.
The major solution providers are engaging in strategic mergers to enhance their data acquisition system capabilities. For instance, in July 2018, HBM, a market leader in the field of test and measurement, merged with Brüel & Kjær, a Denmark-based electronics company, to share their expertise across the measurement chain. This merger helped the company in providing the integrated offering, merging sensors, data acquisition and engineering services in a single solution for its customers. Some of the major players operating in the data acquisition system market are Yokogawa Electric, Schneider Electric SE, National Instruments, Advantech Co., Ltd., Emerson Electric, Siemens, HBM, ABB Ltd., MathWorks Corporation, Honeywell International, Agilent Technologies, Keysight Technologies, AMETEK Inc., Omron Corporation, Rockwell Automation, General Electric Ltd., Campbell Scientific Inc., Data Translation Inc., Kistler, Mitsubishi Electric Corporation, and Alstom.
Data Acquisition System Market, By Component, 2014-2025 (USD Million)
- By Hardware
- By Software
Data Acquisition System Market, By Application, 2014-2025 (USD Million)
- Test & Measurement
- Research & Development
- Industrial Monitoring
Data Acquisition System Market, By End Use, 2014-2025 (USD Million)
- Automotive & Transportation
- Energy & power
- Academic & Research
- Food & Beverage
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- ABB Ltd.
- Advantech Co., Ltd.
- Agilent Technologies
- AMETEK Inc.
- Campbell Scientific Inc
- Data Translation Inc
- Emerson Electric
- General Electric Ltd
- Honeywell International
- Keysight Technologies
- MathWorks Corporation
- National Instruments
- Omron Corporation
- Rockwell Automation
- Schneider Electric SE
- Siemens Ag
- Yokogawa Electric
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