Global Industrial Data Acquisitions System Market Size Forecast 2024 - 2033
23 Dec, 2024
What Is The Scope Of The Global Industrial Data Acquisitions System Market?
An industrial data acquisition system is a comprehensive technology and service framework used in industrial settings to collect, process, and analyze real-time data from machinery, equipment, and methods, enabling monitoring, control, optimization, and decision-making. It enhances industrial efficiency, productivity, and reliability by identifying faults, optimizing processes, ensuring safety, and facilitating compliance with regulatory standards.
Industrial Data Acquisitions System Global Market Report 2024 provides data on the global industrial data acquisitions system market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The industrial data acquisitions system market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Industrial Data Acquisitions System?
The industrial data acquisition systems market has expanded from $38.48 billion in 2023 to $40.74 billion in 2024, with a CAGR of 5.9%. Historical growth drivers include rising demand for wireless systems, industrial automation, real-time monitoring, cloud solutions, and regulatory compliance. The market is expected to reach $52.05 billion in 2028 at a CAGR of 6.3%. Future growth factors include the complexity of industrial processes, infrastructure expansion, energy efficiency initiatives, predictive maintenance, and improved process productivity. Emerging trends involve IoT adoption, AI integration, Industry 4.0 technologies, and data acquisition product innovation.
What Are The Leading Drivers Of Growth In The Industrial Data Acquisitions System Market?
The growing adoption of factory automation is expected to drive the industrial data acquisition system market forward. Factory automation involves integrating robotics, AI, and digital technologies into production processes to enhance efficiency and minimize human involvement. The need for improved operational efficiency, cost reduction, better product quality, and regulatory compliance is driving the adoption of factory automation. Industrial data acquisition systems play a crucial role by enabling the real-time collection and analysis of data from various manufacturing sensors and equipment, supporting decision-making and process optimization. A report by the UK Department for Digital, Culture, Media & Sport and Capital Economics projected a significant rise in AI technology adoption from 15.1% in 2020 to 22.7% by 2025, contributing to increased use of factory automation. Thus, factory automation is boosting the industrial data acquisition system market.
Get Your Free Sample of the Global Industrial Data Acquisitions System Market ReportHow Are The Segments Defined Within The Global 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
How Are New Trends Expected To Influence The Growth Of The Industrial Data Acquisitions System Market?
In the industrial data acquisition system market, companies are developing solutions like Ship Connect to remain at the forefront of the industry. Ship Connect is a robust, flexible system designed for real-time and historical data transmission and visualization both on board and onshore. For instance, in November 2021, METIS Cyberspace Technology SA, a Greece-based software company, launched the next-generation Ship Connect, which offers enhanced data transmission capabilities for ships. The system uses advanced messaging protocols for rapid and secure data transfer, enabling efficient ship performance analytics.
Which Region Drives The Highest Growth In The Industrial Data Acquisitions System Market?
North America was the largest region in the industrial data acquisitionssystem market in 2023. 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.