Industrial Signal Converter Market: Introduction
Industrial signal converter can be defined as device that converts signals from a sensor of different category such as sound, temperature etc. into signals for industrial use. It has the ability to convert input analog signals into analog output signals, normalizes signals, or isolates signals. It is necessary to eliminate the complexity of information in order to normalize data captured by the sensor into signal.
Electronic signals that are detected by the detector and sensors are different (temperatures, pressures, and voltages). Therefore, it is necessary to normalize all the data to a common ground so that it can be used by the industry.
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Global Industrial Signal Converter Market – Dynamics
Increase in Adoption of Automation at Industrial Level is driving the Demand For Industrial Signal Converter Market
Adoption of automation at the industrial level, i.e. manufacturing in multiple industries, has increased widely. Initiatives such as industry 4.0 and focus on improvement in productivity have led to a broad adoption of automation. Thus, there is a need for a device that can convert multiple signals and normalize them to a common level so that it could help in making decisions faster, reduce the risk of accident, and enhance productivity. Demand for industrial signal converter has been rising owing to the increase in the level of automation in the industry.
Rise in Urbanization
Urbanization is increasingly rapidly across the globe due to the expansion in various industries. This can be ascribed to the rapid changes in production technique, from labor intensive to capital intensive, wherein automation has been widely adopted to enhance the level of production and reduce the risk of fatal accidents. To manage the signals which are being produced from different sensor in multiple machines & with increased adoption of automation, the demand for industrial signal converter is increasing.
Overdependence on the Sensor Signals
Industrial signal converters are dependent on sensor signals within the production unit or process unit. There are high chances of wrong reading of sensors in case of sudden shock. Sensors may not work or may not provide the correct data due to the sudden shock. Industrial signal converter is dependent upon sensor signals, which can lead to significant loss for the industry. Overdependence on a single element may hamper the industrial signal converter market.
Europe Expected to Dominate the Industrial Signal Converter Market
In terms of region, the global industrial signal converter market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe is expected to dominate the global industrial signal converter market, as the region has the highest rate of adoption of automation in the industry across the globe.
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Global Industrial Signal Converter Market – Competitive Landscape
- In March 2018, Axiomatic Technologies Corporation launched a dual channel signal converter with CAN SAE J1939 for engine applications. It was launched as the newest DIN rail mountable controller.
Established in 1933, OMRON Corporation is headquartered in Kyoto, Japan. OMRON Industrial Automation is primarily focused towards providing sensing and control technology to the manufacturing companies across the globe. The company’s product portfolio includes sensors, switches, safety components, relays, control components, and automation systems. Under control components, the company provides industrial signal converters.
Axiomatic Technologies Corporation
Founded in 1987, Axiomatic Technologies Corporation is based in Mississauga, Canada. The company focuses on design and manufacture of electronic controllers and power management converters. It is a major supplier of valve controllers, I/O, DC-DC power converters, and motor controls to OEM equipment providers across the globe.
Global Industrial Signal Converter Market: Segmentation
The global industrial signal converter market can be segmented based on:
- Converter Type
Industrial Signal Converter Market Segmentation, by Converter Type
Based on converter type, the global industrial signal converter market can be divided into:
- Thermocouple Converters
- Pulse Converters
- Load Cell Converters
Industrial Signal Converter Market Segmentation, by Industry
In terms of industry, the global industrial signal converter market can be segregated into:
- Food & Beverages
- Semiconductor & Metal
- Energy & Utilities
- Aerospace & Defense
The report on the global industrial signal converter market is a compilation of firsthand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The industrial signal converter market report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on the global industrial signal converter market segments and geographies.
Regional analysis of the global industrial signal converter market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
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