Industrial Data Acquisition Systems Market Size Expected to Reach USD 58.2 Billion by 2026: Reports and Data
Industrial Data Acquisition Systems Market Size – $ 36.4 Billion in 2018, Market Growth – 5.84% CAGR, Market Trends – Growing Ethernet Demand.
NEW YORK, NY, USA, Sep 7, 2021 /EINPresswire.com/ – The major factor contributing to the growth of the industrial data acquisition systems market may be the increasing demand for big data analysis, testing of products for better quality DAQ software in industries.
The industrial data acquisition systems market is expected to grow from USD 36.4 billion in 2018 to USD 58.2 billion by 2026, at a CAGR of 5.84% during the forecast period. Introduction and investments in high potential renewable energy sources, industrial automation infrastructure and processes, growing adoption of PC-based DAQ systems instead of traditional data acquisition systems, growing need for flexible, cost-effective DAQ systems and rapid, availability of customizations based on required software for end users and unfavorable adoption of IoT are some of the driving factors of the market.
Data security concerns, interfacing and signal conditioning complexities, and software compatibility issues may restrain the growth of the industrial data acquisition systems market.
The main players in the industrial data acquisition systems market are Keysight Technologies, AMETEK, Yokogawa, ABB, Spectris, ADLINK Technology, Acromag, Alstom, Bruel & Kjaer, Advantech, Campbell Scientific, DEWETRON, DynamicSignals, Data Translation, Fluke, General Electric, Emerson Electric, HIOKI, MathWorks, and Honeywell, among others.
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Other key findings from the report suggest
• The industrial data acquisition systems market is segmented by type into chassis and external modules, pluggable analog I / O boards, and software. The market for chassis and external modules is expected to experience the strongest growth of approx. CAGR of 6.43% during the forecast period, these data acquisition systems are equipped with flexible software and enable efficient analog-to-digital converter and signal conditioning, providing precision, safety and reliability. superior noise suppression.
• The industrial data acquisition systems market is segmented by application in the electrical industry, oil and gas industry, water and wastewater industry, and chemical industry. The chemical industries market is expected to experience the highest CAGR growth of 7.27% during the forecast period as DAQ systems are used for the solution of a range of chemical engineering tasks, such as simulation and control, process and product design, multiscale modeling. , and advanced data analysis techniques
• The industrial data acquisition systems market is segmented by geography into North, America, Europe, Asia-Pacific, Middle East and Africa and Latin America. North America is expected to have the highest market share of the market, with a CAGR of 6.27% in the forecast year, owing to the adoption of DAQ systems for electrical and automotive industries in this region.
To identify key industry trends, click on the link below: @ https://www.reportsanddata.com/report-detail/industrial-data-acquisitions-systems-market
For the purpose of this report, the market has been segmented on the basis of type, applications, and regional analysis.
Industrial Data Acquisition Systems Market by Type (Revenue, USD Billion; 2018-2026)
Chassis and external modules
Plug-in Analog I / O Cards
Industrial Data Acquisition Systems Market by Applications (Revenue, USD Billion; 2018-2026)
Oil and gas industry
Water and wastewater industry
Regional Industrial Data Acquisition Systems Market Outlook (Revenue, USD Billion; 2018-2026)
Middle East and Africa
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