The Data Acquisition (DAQ) System by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Data Acquisition (DAQ) System , 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..
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.
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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
Product innovations are the key trends gaining popularity in the data acquisition (DAQ) system market. The market players are developing innovative products for their market growth strategy. For instance, in November 2021, METIS Cyberspace Technology SA, a US-based Data Acquisition for maritime industry company, launched Ship Connect, the next-generation automated data-acquisition system to enable the development of ship performance analytics and enhance data transfer and monitoring. The system optimizes network bandwidth and transfers the readings to the METIS cloud platform from vessel equipment, making them immediately available for analysis.
The data acquisition (daq) system market report table of contents includes:
- Executive Summary
- Data Acquisition (DAQ) System Market Characteristics
- Data Acquisition (DAQ) System Market Trends And Strategies
- Data Acquisition (DAQ) System Market – Macro Economic Scenario
- Global Data Acquisition (DAQ) System Market Size and Growth
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- Global Data Acquisition (DAQ) System Market Competitive Benchmarking
- Global Data Acquisition (DAQ) System Market Competitive Dashboard
- Key Mergers And Acquisitions In The Data Acquisition (DAQ) System Market
- Data Acquisition (DAQ) System Market Future Outlook and Potential Analysis
- Appendix
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