IMARC Group, a leading market research company, has recently released a report titled “Data Acquisition (DAQ) System Market Report by Component Type (Hardware, Software), Speed (High Speed (>100 KS/s), Low Speed (<100 KS/s)), Channel (< 32 Channels, 32-128 Channels, > 128 Channels), End User (Aerospace and Defense, Energy and Power, Automotive and Transportation, Wireless Communication and Infrastructure, Water and Wastewater Treatment, Healthcare, Food and Beverages, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global data acquisition system market trends, share, size, and industry growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global data acquisition system market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Global Data Acquisition System Market Trends:
The rising investment in research and development (R&D) to innovate new products and enhance existing ones, where DAQ systems are essential for testing and validating these products, is propelling the market growth. Additionally, the proliferation of the Internet of Things (IoT) and Industrial Internet of Things (IIoT), which requires data acquisition systems to gather data from connected devices and sensors, supporting diverse applications from smart homes to smart factories, is fueling the market growth.
Besides this, the growing need for product testing and quality assurance in sectors like aerospace, automotive, and electronics, which necessitates sophisticated data acquisition systems to ensure compliance with stringent standards, is supporting the market growth.
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Factors Affecting the Growth of the Data Acquisition System Industry:
· Increasing Industrial Automation:
The surge in industrial automation is a significant driver for the data acquisition (DAQ) system market. As industries like manufacturing, automotive, and aerospace transition toward more automated processes, there is a growing need for efficient data collection and analysis systems. DAQ systems are critical in these environments, enabling real-time monitoring and control of various operational parameters, such as temperature, pressure, and vibration. Automation requires precise and continuous data to maintain high productivity levels and ensure quality standards, and DAQ systems provide the necessary infrastructure to gather and process this data.
Moreover, as companies aim to minimize human intervention to reduce errors and labor costs, the role of DAQ systems becomes even more crucial.
· Advancements in Sensor Technology:
Advancements in sensor technology are a cornerstone in driving the growth of the data acquisition system market. Sensors are critical components in DAQ systems, serving as the primary interface for data collection from various sources. Recent improvements in sensor technology have led to the development of more accurate, reliable, and versatile sensors, which can operate effectively in diverse environments and conditions.
Enhanced sensor capabilities allow for more precise data collection, which is vital for applications ranging from environmental monitoring to industrial automation. In this context, the integration of advanced sensors in automotive testing facilities enables the collection of high-resolution data on vehicle dynamics, leading to more thorough evaluations and better product development outcomes.
· Growing Demand for Real-Time Data Analysis:
The demand for real-time data analysis is another critical factor propelling the data acquisition system market. In the fast-paced industrial and technological landscape, the ability to quickly analyze data and make informed decisions is invaluable. Real-time data analysis enables businesses to respond swiftly to changing conditions, optimize processes, and improve overall efficiency. DAQ systems are essential for this as they collect and process data continuously from various sources, providing immediate insights that help in decision-making. In sectors like manufacturing, real-time data can be used to monitor machine performance, predict maintenance needs, and prevent potential failures, thus minimizing downtime and improving productivity. Moreover, in environments such as smart grids and renewable energy, real-time data is crucial for balancing supply and demand, optimizing energy usage, and maintaining system stability.
Data Acquisition System Market Report Segmentation:
By Common Type:
Hardware
· External Chassis and Modules
· Plug-In Analog I/O Boards
Software
· Bundled
· 3rd Party
Hardware holds the majority of the market share because the need for robust and reliable data collection devices is crucial across various industries, ensuring accurate and continuous data acquisition.
By Speed:
· High Speed (>100 KS/s)
· Low Speed (<100 KS/s)
High speed (>100 KS/s) accounted for the largest market share due to its capacity to handle rapid data capture, essential for applications requiring high-frequency signal processing and real-time analysis.
By Channel:
· < 32 Channels
· 32-128 Channels
· 128 Channels
Based on the channel, the market has been divided into < 32 channels, 32-128 channels, and > 128 channels.
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
Aerospace and defense represented the majority of the market share because of the sector’s extensive need for precise data acquisition systems to support testing, monitoring, and operational functions in demanding environments.
Regional Insights:
· North America
· Asia Pacific
· Europe
· Latin America
· Middle East and Africa
North America’s dominance in the market is attributed to its advanced technological infrastructure, significant investments in automation and defense, and strong presence of key industry players.
Competitive Landscape with Key Players:
The competitive landscape of the data acquisition (DAQ) system market size 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 (GE) Company
· Honeywell International Inc.
· Keysight Technologies
· National Instruments Corporation
· Rockwell Automation Inc.
· Schneider Electric SE
· Siemens AG
· Spectris PLC
· Yokogawa Electric Company
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· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
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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