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Emerging Trends Influencing The Growth Of The Industrial Data Acquisitions System Market: Innovative Solutions Driving Industrial Data Acquisition System Market Dominance
Industrial Data Acquisitions System
How Big Is the Industrial Data Acquisitions System Market Size Expected to Be by 2034?
The market size for industrial data acquisition systems has witnessed substantial growth in the recent past. It is projected to expand from $40.74 billion in 2024 to $43.42 billion in 2025, suggesting a compound annual growth rate (CAGR) of 6.6%. The growth witnessed in the historical period is due to factors such as increased demand for wireless data acquisition systems, the emphasis on industrial automation and digitization, strict governmental rules and standards, the necessity for real-time observation and management, and the rising demand for cloud-based data acquisition solutions.
The market size for industrial data acquisitions systems is anticipated to experience robust growth in the coming years, expanding to $55.27 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%. This progression during the projected period can be credited to factors such as the escalating complexity of industrial operations, enhancement of industrial infrastructures, amplified attention on energy efficiency and sustainability, escalating demand for proactive maintenance solutions, and the requirement for improved process efficiency and productivity. Key trends for the forecasted period incorporate advancements in data acquisition system technology, a rising embracement of IoT and Industry 4.0 technologies, the infusion of AI and machine learning in data acquisition, the growth of industrial IoT ecosystems, and product innovation.
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What Are the Emerging Segments Within the Industrial Data Acquisitions System Market?
The industrial data acquisitions system market covered in this report is segmented -
1) By Type: External Chassis And Modules, Plug-In Analog I/O boards, Software
2) By Channel: Less Than 32, 32-128, Greater Than 128
3) By End-User Vertical: Water And Waste Treatment, Power And Energy, Automotive, Education And Research, Aerospace And Defense, Paper And Pulp, Chemicals, Other End-User Verticals
Subsegments:
1) By External Chassis And Modules: Rack-Mounted Chassis, Benchtop Chassis, Modular I/O Systems, Integrated Chassis And Modules
2) By Plug-In Analog I/O Boards: Single-Ended Analog I/O Boards, Differential Analog I/O Boards, Voltage Measurement Boards, Current Measurement Boards, Temperature Measurement Boards
3) By Software: Data Acquisition Software (DAQ Software), Signal Processing Software, Data Analysis And Visualization Software, Control And Automation Software, Real-Time Monitoring Software
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What Long-Term Drivers Are Shaping Industrial Data Acquisitions System Market Trends?
The industrial data acquisition system market is anticipated to surge forward, owing to an increase in the adoption of factory automation. This includes the integration of high-tech machinery, robotics, Artificial Intelligence (AI), and digital technology for automating production processes. The push for factory automation stems from the need to enhance efficiency, cut costs, improve product quality, comply with regulations, and stay competitive. The automation within these systems allows for real-time tracking, monitoring and scrutinizing of manufacturing data from a range of sensors and equipment. This in turn supports informed decision-making and predictive upkeep, boosting operational efficiency and productivity in industrial environments. A case in point is the report by the International Federation of Robotics in September 2023, stating that 2022 saw 553,052 industrial robot installations globally, a 5% growth from the previous year. Geographically, 73% of these new robots were put to work in Asia, 15% were found in Europe, while the Americas accounted for the remaining 10%. Consequently, the growing embrace of factory automation is fueling the expansion of the industrial data acquisition system market.
Who Are the Top Competitors in Key Industrial Data Acquisitions System Market Segments?
Major companies operating in the industrial data acquisitions system market are Siemens AG, Schneider Electric SE, Honeywell International Inc., ABB Ltd., TE Connectivity Ltd., Emerson Electric Co., Rockwell Automation Inc., Omron Corporation, Fluke Corporation, Keysight Technologies Inc., Endress+Hauser Group, Yokogawa Electric Corporation, Phoenix Contact GmbH & Co. KG, Advantech Co. Ltd., National Instruments Corporation, Weidmüller Interface GmbH & Co. KG, Digi International Inc., Dwyer Instruments Inc., Omega Engineering Inc., Beckhoff Automation GmbH & Co. KG, Campbell Scientific Inc., Dataforth Corporation, DEWETRON GmbH, HBM Inc., Lufft GmbH, Moxa Inc.
What Are the Major Trends Shaping the Industrial Data Acquisitions System Market?
Leading organizations in the industrial data acquisition system market are creating data gathering systems for marine vessels, such as the industrial data switch, aimed at delivering dependable, high-end data connectivity essential for mission-critical functions in strenuous surroundings. The Industrial Data Switch aligns with the needs of challenging industrial conditions and offers seamless, high-speed data connectivity. In an instance, Red Lion, an American corporation specializing in industrial network and automation technology, unveiled the N-Tron NT116 unmanaged industrial Ethernet switch in June 2024. The particular design of this switch caters to industrial uses that demand consistent performance in mission-critical settings exposed to severe conditions. The NT116 provides exceptional reliability and effectiveness for data collection, Ethernet I/O, and process control. Encased in a sturdy metal box, the small gadget features 16 high-calibre copper ports (10/100BaseTX RJ45) and is tailor-made to endure heavy shock and vibration. Each port contains built-in ESD and surge protection, providing customers with a fantastic MTBF rating of 1.2 million hours, neatly packaged in a slim, space-saving layout that works efficiently in temperatures from -40°C to 85°C.
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Which Regions Are Becoming Hubs for Industrial Data Acquisitions System Market Innovation?
North America was the largest region in the industrial data acquisitions system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial data acquisitions system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Data Acquisitions System Market?
2. What is the CAGR expected in the Industrial Data Acquisitions System Market?
3. What Are the Key Innovations Transforming the Industrial Data Acquisitions System Industry?
4. Which Region Is Leading the Industrial Data Acquisitions System Market?
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