Overview and Scope
The data acquisition (DAQ) system refers to a system that can measure and record physical or electrical properties to understand the system’s performance. DAQ systems are computer-based measurement systems that help in measuring an electrical or physical phenomenon such as current, voltage, pressure, temperature, or sound. These systems capture and store data from an actual system for further scientific and engineering review.
Sizing and Forecast
The data acquisition (daq) system market size has grown strongly in recent years. It will grow from $1.83 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to evolving telecommunication infrastructure, research and development in life sciences, demand for energy efficiency, environmental monitoring and compliance, test and measurement requirements.
The data acquisition (daq) system market size is expected to see strong growth in the next few years. It will grow to $2.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increased demand for wireless daq solutions, advancements in wireless communication, precision agriculture, expansion of telehealth services, globalization of research and development. Major trends in the forecast period include advancements in sensor technologies, cloud integration for data storage and analysis, enhanced data visualization and analytics tools, compact and modular daq systems, customization and flexibility in software interfaces..
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Segmentation & Regional Insights
The data acquisition (daq) system market covered in this report is segmented –
1) By Type: Peripheral Component Interconnect (PCI), LAN Extensions For Instrumentation (LXI)/ Ethernet, VME Extensions For Instrumentation (VXI), PCI Extensions For Instrumentation (PXI), Universal Serial Bus (USB), Standalone
2) By Component: Hardware, Software
3) By Speed: High-speed (>100 KS/S), Low-speed (<100 KS/S)
4) By Application: Research And Analysis, Manufacturing And Quality, Asset Condition Monitoring, Design Validation And Repair
5) By End User: Aerospace And Defense, Energy And Power, Automotive And Transportation, Wireless Communication And Infrastructure, Water And Wastewater Treatment, Healthcare, Food And Beverages
North America was the largest region in the data acquisition (DAQ) system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data acquisition (daq) system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for automation is significantly driving the growth of the data acquisition (DAQ) system market. Automation refers to the application of technologies with minimal human intervention for producing and delivering goods and services. The majority of the industrial sectors are adopting automated technologies to cut back errors, reduce repetitive tasks, and lower processing costs. The increasing demand for automation in the industries is directly promoting the increased use of data acquisition (DAQ) systems. For instance, in October 2023, according to Cavintek Inc., a US-based firm that offers workflow automation and productivity applications, over 80% of business leaders said they were speeding up productivity automation and expanding the use of remote labor. 43% of firms plan to reduce their workforce by utilizing automation technologies. Therefore, the increase in demand for automation is driving the data acquisition (DAQ) system market growth.
Key Industry Players
Major companies operating in the data acquisition (daq) system market report are Siemens AG, National Instruments Corporation, Keysight Technologies, ABB Group, Fortive Corporation, Emerson Electric Company, Rockwell Automation Inc., General Electric Company, Schneider Electric, Honeywell International Inc., Agilent Technologies Inc., Advantech Co. Ltd., Yokogawa Electric Corporation, ADwin by Jäger Computergesteuerte Messtechnik GmbH, Data Translation Inc., Campbell Scientific Inc., Teledyne Technologies Incorporated, Tektronix Inc., Texas Instruments, Thermo Fisher Scientific Inc., Vishay Precision Group, Yokogawa Test & Measurement Corporation, Zhejiang Top Cloud-Agri Technology Co. Ltd., Campbell Scientific Australia Pty. Ltd., DGH Corporation, Diversified Technical Systems Inc., ESI Group, Fluke Calibration, HBM Test and Measurement, HIOKI E. E. CORPORATION, IMC Test & Measurement GmbH
The data acquisition (daq) system market report table of contents includes:
1. Executive Summary
2. Data Acquisition (DAQ) System Market Characteristics
3. Data Acquisition (DAQ) System Market Trends And Strategies
4. Data Acquisition (DAQ) System Market – Macro Economic Scenario
5. Global Data Acquisition (DAQ) System Market Size and Growth
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31. Global Data Acquisition (DAQ) System Market Competitive Benchmarking
32. Global Data Acquisition (DAQ) System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Data Acquisition (DAQ) System Market
34. Data Acquisition (DAQ) System Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Siemens AG
National Instruments
Keysight Technologies
ABB Group
Fortive Corporation
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