Vietnam Data Acquisition System Market Outlook to 2028

Vietnam Data Acquisition System Market Overview

Vietnam Data Acquisition System (DAQ) market has witnessed substantial growth over the past five years. This is reflected in the growth of Global Data Acquisition System Market which reached a valuation of $2.1 billion, driven by increasing industrial automation, advancements in technology, and the rising adoption of data acquisition System in various sectors such as manufacturing, energy, and healthcare.

Major companies include National Instruments Corporation, Honeywell International Inc., Yokogawa Electric Corporation, Advantech Co., Ltd., and Siemens AG. These players are recognized for their innovative solutions and extensive product portfolios, which cater to the diverse needs of various industries.

The Northern region of Vietnam, particularly Hanoi, dominates the DAQ market due to its concentration of industrial activities and technological advancements and significant investments in manufacturing and infrastructure development.

In 2023, Advantech has launched a new line of modular DAQ System that feature enhanced connectivity options, including support for 5G, Wi-Fi 6, and industrial fieldbus protocols. These System also incorporate more powerful data processing capabilities with advanced microprocessors and FPGAs.

Vietnam Data Acquisition System Market Segmentation

The Vietnam Data Acquisition System Market can be segmented based on several factors:

By Product Type: Vietnam Data Acquisition System Market is segmented by Product Type into Hardware & Software. In 2023, Hardware reign as the most dominant sub-segment, driven by widespread adoption of advanced sensors and data loggers. The integration of Io T devices in manufacturing processes has further boosted the demand for hardware components.

By End-Use Industry: Vietnam Data Acquisition System Market is segmented by End User Industry in Manufacturing, Energy & Healthcare. In 2023, manufacturing emerges as the most dominant sub-segment. The integration of DAQ System in manufacturing processes enhances efficiency, reduces downtime, and improves product quality.

By Region: Vietnam Data Acquisition System Market is segmented by region into North, South, East & West. In 2023, the Northern region dominated this segment driven by significant investments in manufacturing and infrastructure. The presence of leading technology companies and research institutions further bolsters the region's dominance, providing a conducive environment for innovation and growth.

Vietnam Data Acquisition System Market Competitive Landscape

Company Name

Establishment Year

Headquarters

National Instruments Corp.

1976

Austin, USA

Honeywell International Inc.

1906

Charlotte, USA

Yokogawa Electric Corp.

1915

Tokyo, Japan

Advantech Co., Ltd.

1983

Taipei, Taiwan

Siemens AG

1847

Munich, Germany

Yokogawa Electric Corporation: In 2024, Yokogawa Electric Corporation has acquired Bax Energy, a leading provider of renewable energy management solutions (REMS). Bax Energy has proven results across 120 GW+ of renewable energy operations in over 40 countries. This acquisition will provide Yokogawa with a proven range of solutions that have already been adopted by major power companies throughout Europe.

National Instruments Corp: In 2023, National Instruments (NI) has released Lab VIEW, a significant upgrade to its flagship software product. It includes a quick change feature, similar to the existing quick drop functionality. This allows users to quickly select and place new objects in the block diagram.

Vietnam Data Acquisition System Industry Analysis

Vietnam Data Acquisition System Market Growth Drivers:

Industrial Automation Expansion: In 2022, the Vietnamese government has given top priority to 99 high-tech products, 20 of which are in the automation field. It has also supported the development of 107 high-tech products, including 30 in automation. Major manufacturing hubs like Ho Chi Minh City are leading this trend, with automation projects being implemented to enhance operational processes and reduce labor costs.

Io T Integration in Manufacturing: Io T devices require sophisticated data acquisition System to collect and analyze vast amounts of data in real-time, driving the demand for advanced DAQ solutions. Leading manufacturing firms in Hanoi and Binh Duong are pioneering this integration, investing heavily in Io T-enabled DAQ System.

Healthcare Modernization: Hospitals and research institutions are adopting data acquisition System to enhance patient care and streamline research activities. Major hospitals in cities like Hanoi and Ho Chi Minh City are at the forefront, implementing state-of-the-art DAQ System to improve healthcare services.

Vietnam Data Acquisition System Market Challenges:

High Cost of Advanced System: The cost of advanced DAQ System remains a significant barrier. Higher cost is prohibitive for small and medium-sized enterprises (SMEs) in Vietnam. Despite government subsidies and incentives, the initial investment required for high-end DAQ System limits their widespread adoption, particularly among smaller firms.

Technical Complexity: Integrating DAQ System with existing industrial infrastructure poses technical challenges. The complexity of these System requires specialized knowledge and expertise, which can be a hurdle for companies lacking the necessary technical capabilities.

Vietnam Data Acquisition System Market Government Initiatives:

Industry 4.0 Initiative: In 2024, Vietnam will be establishing a Centre for the Fourth Industrial Revolution (C4IR Vietnam) in Ho Chi Minh City, in partnership with the World Economic Forum (WEF). This center will focus on research, policy recommendation, technology transfer, and resource mobilization in areas like green growth, smart urban development, and artificial intelligence (AI).

Renewable Energy Support: In 2024, Vietnam's government is allocating $86 million in 2024 to support renewable energy projects. This funding is directed towards the adoption of advanced data acquisition System to monitor and manage energy production. The initiative aims to increase the share of renewables in the national energy mix, contributing to sustainable development goals.

Vietnam Data Acquisition System Future Market Outlook

Vietnam DAQ market is expected to continue its upward trajectory by 2028, driven by ongoing technological advancements, increased adoption of Io T and smart devices, and expanding applications in emerging sectors such as renewable energy and smart grids.

Future Trends

Increased Adoption of AI and Machine Learning: Over the next five years, the Vietnam DAQ market will see a significant increase in the adoption of AI and machine learning technologies. By 2028, investments in AI-driven DAQ System will grow significantly, enhancing predictive analytics and decision-making capabilities across industries.

Expansion in Renewable Energy Sector: The renewable energy sector will continue to drive demand for DAQ System by 2028. The need for efficient data monitoring and analysis in solar and wind energy projects will propel the adoption of advanced DAQ System, contributing to the sector's growth and sustainability.
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