The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

• Strong growth trajectory: Market size surged from $38.48 billion in 2023 to $40.74 billion in 2024.
• Compounded Annual Growth Rate (CAGR) of 5.9% signifies robust expansion.
• Factors fueling historic growth:
  • Rising demand for wireless data acquisition systems.
  • Focus on industrial automation and digitization.
  • Stringent government regulations and standards.
  • Need for real-time monitoring and control.
  • Demand for cloud-based solutions.

Future Outlook

• Projected growth to $52.05 billion by 2028 at a CAGR of 6.3%.
• Drivers of forecasted growth:
  • Complexity of industrial processes.
  • Expansion of industrial infrastructure.
  • Focus on energy efficiency and sustainability.
  • Demand for predictive maintenance solutions.
  • Need for improved process efficiency and productivity.

View More On The Industrial Data Acquisitions System Market Report 2024 – https://www.thebusinessresearchcompany.com/report/industrial-data-acquisitions-system-global-market-report

• Key trends:
  • Technological advancements in data acquisition systems.
  • Increasing adoption of IoT and Industry 4.0.
  • Integration of AI and machine learning.
  • Expansion of industrial IoT ecosystems.
  • Emphasis on product innovation.

Impact of Factory Automation

• Factory automation driving market growth.
• Automation enhances:
  • Efficiency.
  • Cost reduction.
  • Product quality.
  • Regulatory compliance.
  • Competitiveness.
• Real-time data collection facilitates:
  • Informed decision-making.
  • Process optimization.
  • Predictive maintenance.
• Example: UK’s AI technology adoption surge.

Key Players

• Major companies:
  • Siemens AG.
  • Schneider Electric SE.
  • Honeywell International Inc.
  • ABB Ltd.
  • TE Connectivity Ltd.
• Continued innovation:
  • Development of Ship Connect for ships.
  • Example: METIS Cyberspace Technology SA’s Ship Connect.

AVEVA’s Game-Changing Acquisition

• AVEVA’s acquisition of OSIsoft for $5 billion in March 2021.
• Combined strengths:
  • AVEVA’s industrial performance applications.
  • OSIsoft’s industrial data platform.
• Digital transformation powerhouse created.

Market Segmentation

• Segmented by:
  1. Type: External Chassis And Modules, Plug-In Analog I/O boards, Software.
  2. Channel: Less Than 32, 32-128, Greater Than 128.
  3. 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.

Regional Dynamics

• North America led the market in 2023.
• Asia-Pacific poised for fastest growth in the forecast period.

In the realm of industrial data acquisition systems, innovation and integration are key drivers of growth. As industries evolve, embracing automation, digitalization, and cutting-edge technologies becomes imperative for sustained success. With a promising future outlook and continuous advancements, the industrial data acquisition system market is set to revolutionize industrial processes across the globe.

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The Industrial Data Acquisitions System Global Market Report 2024  provides comprehensive insights on the industrial data acquisitions system market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the industrial data acquisitions system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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