Growing Demand from the Electrical Industry Predicted to Drive the Global Industrial Data Acquisition Systems Market Until 2020, Says Technavio

LONDON--()--According to the latest research study released by Technavio, the global industrial data acquisition systems market is expected to reach USD 936.1 million in revenue by 2020.

This research report titled ‘Global Industrial Data Acquisition Systems Market 2016-2020,’ provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various product segments, including external chassis and modules, plug-in analog I/O boards, and BMP.

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“The electrical industry accounted for the largest share in the global industrial data acquisition systems market in 2015. It will continue to dominate the market during the forecast period. Most electrical equipment and power companies use large volumes of external chassis and module data acquisition systems in their plants. High demand for industrial data acquisition systems market will come from the F&B and water and wastewater industries during the forecast period,” said Bharath Kanniappan, one of Technavio’s lead analysts for automation research.

Additional Insights: Top 10 Vendors in the Industrial Data Acquisition Systems Market

Global industrial data acquisition systems market: Product segmentation 2015

• External chassis and modules         72.89%
• Plug-in analog I/O boards 19.60%
• BMP 7.51%
 
Source: Technavio research
 

External chassis and modules segment

In 2015, the modular data acquisition systems accounted for more than 50% share of the external chassis and modules segment. A modular data acquisition system is equipped with flexible software and efficient signal conditioning and analogue-to-digital convertor. Efficient signal conditioning provides high accuracy, removal of noise, and safety. The flexible software enables a single data acquisition system to be used for multiple applications.

The external chassis and modules segment in the global industrial data acquisition systems market was valued at USD 682.5 million in 2015.

High adoption of modular data acquisition systems was observed in the electrical and automotive industries in 2015. By 2020, we expect the modular data acquisition systems to account for about 60% of the segment. We also anticipate that the majority of the demand for modular data acquisition systems will come from the water and wastewater, F&B, and oil and gas industries during the forecast period. In 2015, about 3,000 water reuse facilities were operational globally, and this number is expected to double by 2020. Hence, we expect high demand for modular data acquisition systems from the new water reuse facilities during the forecast period.

Plug-in analog I/O boards segment

The plug-in analog I/O boards segment in the global industrial data acquisition systems market was valued at USD 183.6 million in 2015. In 2015, LXI accounted for about 76% share of the plug-in analog I/O boards segment. The high adoption of LXI-based plug-in analog I/O boards in the automotive and electrical industries is attributed to its easy migration and interoperability with other instrument standards, creating a new hybrid system. By 2020, we expect the share to decline to about 73% of the plug-in analog I/O boards segment, mainly due to the replacement of LAN technology with wireless instruments across industries. The adoption of IIoT will have a significant impact on the demand for LXI during the forecast period.

Software segment

The software segment in the global industrial data acquisition systems market was valued at USD 70.28 million in 2015. The demand for data acquisition software has increased significantly since 2010. The software segment accounted for 6.85% share of the overall market in 2010 and by 2015, the share increased to 7.51%. The rise in demand for PC-based data acquisition systems contributed to the growth of the software segment.

The PC-based data acquisition hardware could be connected to a PC, and the data acquisition software installed in the PC carried out the acquisition process based on the user commands. This led to the availability of customized data acquisition systems in the market.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

According to the latest research study released by Technavio, the global industrial data acquisition systems market is expected to reach USD 936.1 million in revenue by 2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com