Report Ocean presents a comprehensive research report on Data Acquisition (DAQ) System, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Data Acquisition (DAQ) System.
The global Data Acquisition (DAQ) system market size was US$ 1.61 billion in 2021. The global Data Acquisition (DAQ) system market is projected to grow to US$ 2.6 billion by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the study period from 2022 to 2030.
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The data acquisition technique is used to convert unit signals into digital values. These units can be analyzed and manipulated in a computer system. A hardware element that includes sensors and is connected to a computer makes up a data acquisition system.
Factors Influencing the Market
The growing focus on data monitoring will primarily drive the growth of the market. End users of Data Acquisition (DAQ) systems, such as automotive, aerospace, power, etc., are increasingly emphasizing technological advancements in order to increase the quality of operations. As a result, it will fuel the growth of the global Data Acquisition (DAQ) system market during the analysis period.
Another factor shaping the scope of the Data Acquisition (DAQ) system market is the growing integration of control systems with DAQ solutions. The integration of these control systems allows real-time control and post-recording display. Further, the advancements in the food and beverage sector are expected to present opportunities for the global Data Acquisition (DAQ) system market as the adoption of supervisory control and data acquisition (SCADA) systems are increasing steadily. As a result, it will surge the need for DAQ systems.
5G connectivity and rising emphasis on high-speed communication are projected to present attractive growth prospects for the market during the analysis period. On the flip side, the high cost and complexity of DAQ systems may limit the growth of the market during the analysis period.
COVID-19 Impact Analysis
The DAQ system market experienced a fall-off as lockdowns have been implemented in certain economies to stop the COVID-19 virus from spreading. The lockdown directly affected manufacturing activities. The aerospace and defense industries and automobile and transportation industries, which are the major end-users of DAQ system solutions, recorded a sharp fall in terms of revenue. As a result, it hindered the growth of the Data Acquisition (DAQ) system market. Due to the pandemic, more than 25 airlines filed for bankruptcy between April and June, including major Latin American carriers like LATAM Airlines, South Africa Airways, Air Berlin, Flybe, and Miami Air, etc. All of these factors during the epidemic impacted the requirement for DAQ equipment.
Regional Analysis
The global data acquisition (DAQ) system market is anticipated to create sizable revenue throughout the forecast period from several regions. The DAQ system market is anticipated to grow at the quickest rate in the Asia Pacific region. Strong government backing for manufacturing and the use of new technologies like AI and IoT, increasing production capacity, and strict regulatory standards governing product testing and measurement will drive the growth of the market during the study period.
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Competitors in the Market
National Instruments Corp (US)
Siemens Digital Industries Software (US)
Teledyne Technologies Incorporated (US)
Yokogawa Electric Corporation (Japan)
Spectris PLC (UK)
Emerson Electric Co (US)
General Electric (US)
Honeywell International Inc (US)
Rockwell Automation Corporation (US)
Curtiss-Wright Corporation (US)
Dataforth Corporation (US)
Schneider Electric (France)
AMETEK, Inc (US)
Graphtec Corporation (Japan)
Hioki E.E. Corporation (Japan)
Other Prominent Players
Market Segmentation
The global Data Acquisition (DAQ) system market segmentation focuses on Type, Speed, Application, Vertical, and Region.
Based on Type
Hardware
Software
Based on Speed
High-speed (>100 KS/S)
Low-speed (<100 KS/S)
Based on Application
R&D
Field
Manufacturing
Based on Vertical
Automotive & Transportation
Aerospace & Defense
Power & Energy
Wireless Communications & Infrastructure
Environmental Monitoring
Healthcare
Food & beverage
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
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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
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