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Software Solutions Enabling Central and On-premise Data Visibility and Insights Drive Growth
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The global data acquisition system market is witnessing a strong growth due to emerging use cases for IIoT and growing adoption of digital technologies in industry verticals. With the advent of sensors 2.0 and IIoT, there are higher volumes of data to be collected in field and manufacturing applications. Furthermore, increasing adoption of Ethernet is enabling standardization of industrial control and automation that is propelling the need for advanced data acquisition solutions. End users are looking for data acquisition over multiple locations for gaining comprehensive visibility of their assets. With data acquisition hardware having the potential to be deployed over a large number of devices, there is a rising need for distributed data acquisition systems. System vendors will need to incorporate high accuracy and modularity in their offerings to enable tight data synchronizations and lower system complexity for decentralized acquisition systems. In addition, the market is experiencing a shift from data collection to data analysis as capitalizing on acquired data remains a key industry challenge. Data acquisition solution providers will need to focus on software-centric solution offerings that allow advanced analysis of collected data for making strategic decisions. With the need for lower latency and on-premise data management, end users require unified hardware and software solutions that can be customized to meet their data acquisition needs. Among geographical regions, Asia-Pacific is the fastest growing market with increasing proliferation IIoT and adoption of digital technologies throughout the regions. With the need for higher volumes of data, critical industry verticals such as power & energy and aerospace & defense industries will require multi-channel data acquisitions and tighter synchronizations. Data acquisition system needs will differ among industries, and system vendors will need to develop an expansive portfolio that can meet specialized functions for end users through configuration and customization. Decentralization of data acquisition over multiple locations will also propel the adoption of more reliable data acquisition hardware, including Ethernet to maintain accuracy over long distances. The market will move toward the adoption of cloud and edge computing as an extended capability for timely data management and enhanced data analytics in the long term.
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