Demand for Data Acquisition Solutions to Surge in Multiple Industries in Southeast Asia, Finds Frost & Sullivan
16 Jun, 2015, 05:23 BST
-- Having become a manufacturing hub, the region holds tremendous promise for DAQ market participants
KUALA LUMPUR, Malaysia, June 16, 2015 /PRNewswire/ -- The growth of the automotive industry in the ASEAN region is expected to drive the demand for data acquisition (DAQ) solutions to analyse power measurements and create innovative automotive technology designs. Further, rising investments in the foundry and memory segments of the region's semiconductors industry will lend momentum to the DAQ market.
New analysis from Frost & Sullivan, Data Acquisition Market in Southeast Asia (http://www.frost.com/p801), finds that the market earned revenues of US$72.4 million in 2014 and estimates this to reach US$132.9 million in 2019 at a compound annual growth rate of 12.9 percent. The study covers the segments of peripheral component interconnect (PCI), Ethernet, versamodular euro (VME) extensions for instrumentation (VXI), PCI eXtensions for instrumentation (PXI), universal serial bus, standalone and proprietary solutions, and software.
For complimentary access to more information on this research, please visit: http://corpcom.frost.com/forms/APAC_PR_DJeremiah_P801-30_23Feb15.
"Southeast Asia's emergence as a manufacturing hub due to the availability of cheaper labour and favourable government policies for investors has augured well for the DAQ market," said Frost & Sullivan Measurement & Instrumentation Industry Analyst Susan Sahayan. "The increase in foreign direct investment has been boosting the growth of regional economies and, in turn, expanding opportunities for industry players to conduct R&D activities, which often require DAQ solutions."
However, as the variety of DAQ solutions has widened owing to the highly fragmented nature of the Southeast Asian market, procurement decisions now take much longer. This, along with the lack of awareness among some end users on the different DAQ technologies available in the market, has pegged back the market growth pace.
"DAQ market participants should develop strong channel partnerships to tap into the potential of the local market," advised Sahayan. "It is also imperative that DAQ vendors build customer trust, expand their product knowledge, and offer robust customer support to strengthen their presence in the Southeast Asian market."
Data Acquisition Market in Southeast Asia is part of the Test & Measurement (http://www.testandmeasurement.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Global DAQ Hardware and Software Market, PXI Market to Change the Face of the Test and Measurement Industry, and Quantifying the Global Opportunity for LXI. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Data Acquisition Market in Southeast Asia
P801-30
Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com
Carrie Low
Corporate Communications – Asia Pacific
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E: carrie.low@frost.com
Melissa Tan
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E: melissa.tan@frost.com
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SOURCE Frost & Sullivan