Press release
Data Acquisition System Market is Projected to Showcase Strong Growth 2019 – 2025 | Schneider Electric SE, National Instruments, Advantech Co., Ltd., Emerson Electric, Siemens, HBM, ABB
Data Acquisition System Market
Data acquisition system market 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.
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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 data acquisition system market growth.
Asia Pacific is a promising data acquisition system 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’.
Data acquisition system market in 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 data acquisition system market in the country.
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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
• Bundled
• Third-party
• Service
Market, By Application, 2014-2025 (USD Million)
• Test & Measurement
• Research & Development
• Imaging/Ultrasound
• Industrial Monitoring
• Others
Market, By End Use, 2014-2025 (USD Million)
• Automotive & Transportation
• Energy & power
• Academic & Research
• Healthcare
• Food & Beverage
• Others
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