LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global industrial signal converter market is expected to grow at a CAGR of more than 4% during the predicted period.
This research report titled ‘Global Industrial Signal Converter Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Industrial signal converters are integral parts of production processes in industries. These converters are used for safe and reliable transmission of analog signals collected from sensors and actuators. Signal converters are essential equipment in industries such as mining and oil and gas, wherein process variables such as temperature and pressure are the prevalent aspects.
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Technavio’s analysts categorize the global industrial signal converter market into five major segments by end user. They are:
- Water and wastewater treatment industry
- Mining industry
- Power industry
- Oil and gas industry
- Others
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The top three end-user segments of the global industrial signal converter market are discussed below:
Global industrial signal converter market by water and wastewater treatment industry
The water and wastewater treatment industry is a major contributor to global industrial signal converter market. Signal converters are primarily used in measuring volumetric flow rate and other variables such as temperature and pressure in the industry. Monitoring water flow is essential in water and wastewater treatment plants, as a slight increase in water flow can cause leakage.
According to Kalle Deepak, a lead automation research analyst from Technavio, “The water and wastewater treatment industry is attracting significant investments in establishing new infrastructure and revamping existing ones to obtain high-quality water. In North America, countries such as Canada and the US need to revive their water infrastructure, which is on the verge of reaching the end of its service life. The majority of the facilities are decades old.”
Global industrial signal converter market by mining industry
The industrial signal converters are essential devices in the mining industry, especially in hazardous areas where they are used for surveillance of actuators and detecting harmful gases. Mining, particularly underground coal mining, involves risk-prone locations wherein miner safety is of utmost importance.
“Signal converters are used to convert analog signals such as the concentration of harmful gases into digital signals. In the recent years, the use of technologies such as multi-fan monitoring and control systems is indispensable for surveillance of precise process variables. Multi-fan ventilation systems use a series of fans laid throughout a mine that ejects out harmful gases and keeps the flow rate even in the mine,” says Deepak.
Global industrial signal converter market by power industry
Signal converters are widely used in power generation, transmission, and distribution. Various fuel sources such as fossil fuels, gas, and renewable are used for power generation. Signal converters measure input variables such as gas flow rate, temperature, and pressure, and record the output in the analog form.
A power grid is arranged at different levels of voltage to supply multiple levels of power to numerous end-users. During power supply, switchgears and circuit breakers are to be monitored to avoid power failure. A signal converter efficiently monitors signals to provide precise data. In the distribution system, signal converters are used to measure the voltage level and compute the power consumed by the load.
The top vendors highlighted by Technavio’s research analysts in this report are:
- ABB
- Emerson Electric
- General Electric
- Schneider Electric
- Siemens
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