According to IMARC Group’s latest report, titled “Data Acquisition (DAQ) System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global data acquisition (DAQ) system market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, growing at a CAGR of 5.2% during 2023-2028.
A data acquisition (DAQ) system is an information system that stores, collects, measures, controls, and distributes information regarding physical phenomena, such as temperature, pressure voltage, current, and sound, in the form of analog signals. It comprises various parts, including DAQ measurement hardware, sensors, and a computer with programmable software. A DAQ system is widely used in commercial and industrial sectors to capture the electrical signal and convert them into analog and digital signals from instruments and sensors located at isolated sites. It also aids in providing a fast response to failure and excellent control while manufacturing commercial products, such as automobiles, aircraft, large machinery, and medical devices.
Market Trends and Drivers:
The rising emphasis on data monitoring across various industrial verticals is primarily driving the DAQ system market growth. This, in confluence with the easy availability of high-speed internet connectivity and the advent of industry 4.0, are creating a positive outlook for the market. Additionally, the widespread product adoption across the automotive sector to conduct virtual load tests and assess vehicles and components under real conditions is acting as another growth-inducing factor. Apart from this, the integration of DAQ systems with the internet of things (IoT)-enabled devices and machine-to-machine communication (M2M) technologies to improve visibility, control production activities, monitor performance, improve quality, and boost overall efficiency are providing a considerable boost to the market growth. Additionally, the increasing demand for supervisory control and data acquisition (SCADA) systems in the food and beverage (F&B) industry to meet the food quality standards is positively impacting the market growth. Other factors, including rising demand for data monitoring to increase operational efficiency, extensive research and development (R&D) activities, and the widespread product adoption in the healthcare industry, are anticipated to drive the market toward growth.
Data Acquisition (DAQ) System Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the data acquisition system market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Group
- AMETEK Inc.
- Emerson Electric Co.
- Fortive Corporation
- General Electric Company
- Honeywell International Inc.
- Keysight Technologies
- National Instruments Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Spectris PLC
- Yokogawa Electric Company
Key Market Segmentation:
The report has segmented the global data acquisition system market based on component type, speed, channel, end user and region.
Breakup by Component Type:
- Hardware
- External Chassis and Modules
- Plug-In Analog I/O Boards
- Software
- Bundled
- 3rd Party
Breakup by Speed:
- High Speed (>100 KS/s)
- Low Speed (<100 KS/s)
Breakup by Channel:
- < 32 Channels
- 32-128 Channels
- > 128 Channels
Breakup by End User:
- Aerospace and Defense
- Energy and Power
- Automotive and Transportation
- Wireless Communication and Infrastructure
- Water and Wastewater Treatment
- Healthcare
- Food and Beverages
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Explore Full Report: https://www.imarcgroup.com/data-acquisition-system-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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