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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.