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Demand for DAQ Solutions to Surge in Multiple Industries in SE Asia
June 16, 2015 | Frost & SullivanEstimated reading time: 1 minute
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, finds that the market earned revenues of $72.4 million in 2014 and estimates this to reach $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.
"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."
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