Posted On: 2020-09-04
India data acquisition and control in the factory automation market was dominated by solutions in revenue terms in 2019 – 6Wresearch.
India data acquisition market is expected to grow significantly over the coming years on account of the rapid data-centric approach in production and operations which would uphold a competitive edge while facilitating the users to access the data any time, irrespective of the location. Moreover, the proliferating industrial sector and higher adoption of industry 4.0 integrated with IoT and cyber-physical systems would increase the demand for data acquisition solutions in factory automation in the coming years. Further, the coronavirus outbreak is expected to adversely impact India's data acquisition and control in the factory automation market in 2020. However, the market is expected to regain momentum post-2020 on account of government initiatives that are anticipated to draw in substantial public and private investments for infrastructural developments in the country, thereby bolstering demand for data acquisition solutions.
According to 6Wresearch, India Data acquisition and control in factory automation market size is projected to grow at a CAGR of 11.1% during 2020-2026. Growing investments in healthcare and logistics sectors, combined with government programs would provide reassurance and driving capabilities in the country for developing core components and creating an enabling environment for the industry to compete globally. For instance, policies including Make in India, Digital India, Pharma Vision 2020, Production Linked Incentive Scheme, are expected to directly influence the data acquisition and control market over the coming years, on account of the creation of new avenues for product deployment.
According to Akshay Thakur, Senior Research Analyst, Research and Consulting, 6Wresearch, “Sensors are expected to grow at an exponential rate during the forecast period owing to the technological advancements in smart sensor technologies offering innovative and additional features to the medical devices and equipment in the healthcare sector. Additionally, on account of the rapidly growing demand for automobiles in India, the adoption of automation controllers such as PLC has gained traction, primarily as a relay replacement equipment in the automotive industry. Further, with the initiation of technologies, such as machine vision, collaborative robots, artificial intelligence for driverless/autonomous cars, cognitive computing in IoT-connected cars, the demand for PLC market in data management solutions is expected to grow further.”
According to Mohit Bhatia, Research Associate, Research and Consulting, 6Wresearch, “PLM dominates the solutions segment in the data acquisition and control market owing to rapid commercialization, R&D, internal and external process complexity, which are expected to influence the productivity and growth of the market in the years to come. Electronic Design Automation (EDA) used in designing electronic systems such as printed circuit boards and integrated circuits is expected to foster the utility of PLM software in the electronics and automotive industries in the coming years. Moreover, technological trends such as additive manufacturing and engineering Augmented Reality (AR), and Virtual Reality (VR) is anticipated to drive the market during the forecast period.”
“Data acquisition and control in factory automation market (2020-2026)" provides an in-depth analysis with 20 figures and 7 tables covered in 96 pages. The report estimates and forecasts overall data acquisition and control in the factory automation market by components, by solutions, by applications, and by regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.