Industrial Data Acquisitions Systems Market Size ? USD 36.4 billion in 2018, Market Growth - CAGR of 5.84%, Market Trends ? rising demand for Ethernet.

NEW YORK, NY, UNITED STATES, September 7, 2021 /EINPresswire.com/ -- The major contributing factor for the growth of the market for Industrial Data Acquisitions Systems can be?increasing demand for Big Data analytics, for products testing for better quality of DAQ software in industries.

The?Industrial Data Acquisitions 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 on high potential renewable energy sources, infrastructures, and industrial automating processes, rising adoption of PC-based DAQ systems instead of traditional data acquisition systems, increasing need for flexible, cost effective and time saving DAQ systems, availability of customizations based on software required for the end users and adverse 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 Acquisitions Systems market.

Key players with in Industrial Data Acquisitions 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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Further key findings from the report suggest

? The Industrial Data Acquisitions Systems market is segmented by type into external chassis and modules, plug-in analog I/O boards and software. The market for external chassis and modules is expected to witness highest growth of approx. CAGR of 6.43% during the forecast period, these data acquisition system are equipped with flexible software and allow analogue-to-digital converter and efficient signal conditioning, providing higher accuracy, safety and provides removal of noise.
? The Industrial Data Acquisitions Systems market is segmented by application into power industry, oil and gas industry, water and wastewater industry and chemical industry. The market for chemical industries is expected to witness highest growth of CAGR 7.27% during the forecast period, since DAQ systems are used for the solution of a range of chemical engineering tasks, like simulation and control, process and product design, multi-scale modelling, and advanced data analysis techniques
? The Industrial Data Acquisitions Systems Market is segmented by Geography into North, America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to have the highest market share in the market, with a CAGR of 6.27% in the forecast year, due to adoption of DAQ systems for electrical and automotive industries in this region.

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For the purpose of this report, the market has been segmented on the basis of type, applications, and regional analysis.

Industrial Data Acquisitions Systems Market by type (Revenue, USD Billion; 2018-2026)

External chassis and modules
Plug-in analog I/O boards
Software

?Industrial Data Acquisitions Systems Market by applications (Revenue, USD Billion; 2018-2026)

Power industry
Oil and gas industry
Water and wastewater industry
Chemical industry

?Industrial Data Acquisitions Systems Market Regional Outlook (Revenue, USD Billion; 2018-2026)

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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Finally, all aspects of the Industrial Data Acquisitions Systems market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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