Industry Background:
The data acquisition system is defined as the information system which mainly collects, stores and distributes information. It is also known as a data logger. It basically collects the data from the real world and then converts those data into the signal, which can be processed by computer. It is widely used in the industrial, commercial electronic and other engineering fields, due to capture the electrical signal and converted into other forms of the signal.
According to AMA, the market for Data Acquisition Systems is expected to register a CAGR of 5.2% during the forecast period to 2026. This growth is primarily driven by Increased Emphasis on Energy Efficiency, Resource Optimization, and Cost of Production, Growing Demand for Industrial Mobility for Remotely Managing the Process Industry Worldwide and Increasing Usage of Big Data & IoT, and Industrial Revolution 4.0 and Technological Advancement in Data Acquisition System.
Globally, a noticeable market trend is evident Rising Adoption of Cloud Computing in Data Acquisition System across the world
. The Systems Software sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as National Instruments (United States), Keysight Technologies (United States), Siemens AG (Germany), HBM (Germany), Yokogawa Electric (Japan), ABB Ltd (Switzerland), Honeywell International (United States), Rockwell Automation (United States), Ametek Inc. (United States), Emerson Electric (United States) and Omron Corporation (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2019, the Advantech Co., Ltd. (China) Company has completed more than 80% acquisition of Omron Nohgata. In addition, in this acquisition, the company has also planned to expand its embedded system market share in Japan. Hence, this will help to enhance the growth of the revenue of the company. and In April 2018, the ABB (Switzerland) Company and Hewlett Packard Enterprise (United States) Company has formed a partnership. In this partnership, it provides manufacturers with actionable insights from significant amounts of industrial data. Therefore, it will affect the growth of the market in the future.
In November 2018, the Keysight Technologies (United States) Company has launched DAQ970A data acquisition system, which mainly provides test engineers with the widest range of measurement types & ranges and fast scan rates. Hence, this launch has helped the company to expand its product portfolio of the company. and In November 2018, the National Instruments Corporation (United States) company has launched LabVIEW NXG, which mainly design software and simplifies the most time-consuming tasks in an automated test. Hence, this would help in the expansion of the product portfolio of the company
Market Drivers
- Increased Emphasis on Energy Efficiency, Resource Optimization, and Cost of Production
- Growing Demand for Industrial Mobility for Remotely Managing the Process Industry Worldwide
- Increasing Usage of Big Data & IoT, and Industrial Revolution 4.0 and Technological Advancement in Data Acquisition System
Market Trend
- Rising Adoption of Cloud Computing in Data Acquisition System across the world
- Technology advancement of Data Acquisition System such as Open Platform Communications Unified Architecture
Restraints
- Issue related to Mature Market in North America and Europe
Opportunities
The Growing Focus on DAQ Software for Data Analysis, Growth of Wireless Data Acquisition System and Mounting Demand from Emerging market namely India and China
Challenges
Problem Regarding the Requirement of High Computational Power
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Data Acquisition Systems Study Sheds Light on
The Data Acquisition Systems Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Data Acquisition Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Data Acquisition Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.