The “Data Acquisition System Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Data Acquisition System Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global data acquisition system market size was US$ 1.79 billion in 2021. The global data acquisition system market size is forecast to reach US$ 2.71 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2022 to 2030.
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A data acquisition (DAQ) system measures a number of electrical counts with the help of a computer, such as voltage, current, temperature, pressure, or sound. The DAQ system consists of several parts, including sensors, DAQ measurement hardware, and a computer with programmable software. It’s also called a data logger. Basically, the sensor collects information from the real world and converts it into a signal that computers can process. Industrial, commercial, and other engineering fields use this product since it is able to capture an electrical signal and convert it to an analog or digital form. A data acquisition system increases the computing power, productivity, display capability, and connectivity of a computer. In addition, making them more powerful, flexible, and cost-effective measurement solutions.
Factors Influencing Market Growth
With the increase in the demand for data monitoring among end-user sectors, the market is forecast to experience significant growth during the forecast period.
The rise in IoT devices, big data, and technological advancements are forecast to drive the global data acquisition system market.
An increase in investments in the automotive sector, driven by technological advances, is also expected to boost the market growth. It is due to the increase in demand for industrial mobility for controlling automated vehicles from a distance.
The high cost of implementing the data acquisition system may slow down the overall market’s growth.
Growing demand for automated data acquisition systems and development of high-speed connectivity technologies, such as 5G, in end-user sectors, will foster opportunistic demand for the data acquisition systems market.
Impact Analysis of COVID-19
The COVID-19 pandemic had negatively impacted the global DAQ system market in 2020. In order to curb the spread of COVID-19, several major economies have enacted lockdowns. Lockdowns have severely affected the manufacturing industry. Automobile & transport, as well as aerospace & defense, are major vertical markets for DAQ systems. In 2020, many countries halted the production of automobiles for several weeks due to the COVID-19 pandemic. As a result of the pandemic-induced lockdown, Chinese parts exports, manufacturing in Europe, and assembling plants in the US were all impacted. In addition, reduced economic activities due to the outbreak and spread of COVID-19 have affected the power, energy, wireless communications, infrastructure, and construction demand and supply patterns in different economies.
Regional Insights
The Asia Pacific region is forecast to witness a high CAGR in the global market. Rapid technological advancements, increased manufacturing units, strict regulations concerning product testing and measurement, and strong government support for manufacturing and implementing new technologies such as artificial intelligence and the Internet of Things. The Asia Pacific is a leading automobile manufacturing region in China. There is a growing penetration of automotive OEMs/plants in the region, which drives the growth of the region’s data acquisition system market.
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Leading Competitors
The leading prominent companies profiled in the global data acquisition system market are:
ADLINK Technology
AMETEK, Incorporated
AstroNova Incorporated
Campbell Scientific Incorporated
Curtiss-Wright Corporation
Dataforth Corporation
Dewetron GmbH
Emerson Electric Co.
Fortive
General Electric
Honeywell International Incorporated
imc Test & Measurement GmbH
Keysight Technologies
National Instruments Corp
Rockwell Automation Corporation
Schneider Electric
Siemens Digital Industries Software
Spectris PLC
Teledyne Technologies Incorporated
Yokogawa Electric Corporation
Other Prominent Players
Scope of the Report
The global data acquisition system market segmentation focuses on Offering, Speed, Vertical, Application, and Region.
Segmentation based on Offering
Hardware
External chassis and modules
Plug-in I/O analog boards
Software
Bundled
3rd Party
Segmentation based on Speed
High-speed (>100 KS/S)
Low-speed (<100 KS/S)
Segmentation based on Vertical
Automotive & Transportation
Aerospace &Defense,
Power & Energy
Wireless Communications & Infrastructure
Environmental Monitoring
Healthcare
Food & beverage
Others
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Segmentation based on Application
R&D
Field
Manufacturing
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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