The Global Data Acquisition System (DAQ) Market size was valued at US$ 1.89 billion in 2021 and is anticipated to reach the valuation of US$ 2.38 Billion by 2027 and is predicted to register a CAGR of 5.5% during 2022-2027.
The data acquisition system is used in the process of sampling signals that measure real world physical conditions and converting the resulting samples into digital numeric values that can be manipulated by a computer. These systems have abbreviated by the acronyms DAS or DAQ which typically can convert analogue waveforms into digital values for processing.
These data acquisition systems play a crucial role in decision making in real-time in the industrial sector. To maintain a competitive edge while facilitating the users to access the data at any time, irrespective of the location. These data acquisition systems have evolved from mere processing systems to the key to achieve the comprehensive benefits of automation, and companies are evolving towards a data-centric approach in production and operations.
In the aerospace and defence, government, energy, and automotive industries, data monitoring improves operational quality and aids in early fault detection. Furthermore, data monitoring is essential helps to improve equipment operational efficiency while requiring minimal human interaction. Data monitoring aids in the evaluation of assets such as solar PV, wind turbines, and other power producing equipment in the energy sector. Monitoring wind turbine data, for example, has become increasingly important to wind power producing operations in the United States in recent years. According to British Petroleum, overall wind generation in the United States reached 340.9 TWH in 2020, the highest level ever. In addition, after China, the United States ranked second in overall wind consumption in 2020. Wind turbines must be regularly monitored for characteristics such as vibrations, wind speed, and temperature in order to operate efficiently and reliably as wind generating capacity grows. Data monitoring is used in the aerospace industry to analyse flight aerodynamics and validate the design and safety parameters of engines and other aircraft components.
DAQ system buyers are price-conscious, looking for low-cost, high-quality solutions. Critical parameters such as sensors, channel counts, and the requirement to develop a DAQ system that can resist harsh working environments, on the other hand, determine the cost of a DAQ system. The higher the channel count and speed, the more expensive it will be. DAQ systems are becoming increasingly sophisticated as a result of technological advancements in the design and development of this equipment as a result of technological breakthroughs in the design and development of this equipment. So, more robust testing capabilities are required, and manufacturers must constantly improve their existing equipment to suit the demands of individual applications. Manufacturers of DAQ systems must also adhere to a number of technical criteria, which drives up the price of a DAQ system.
Aerospace, wireless communication, automotive, and manufacturing are just a few of the industries that have embraced 5G technology quickly. For example, present 4G technology is insufficient to support the development and acceptance of autonomous vehicles in the automotive industry. Electronics used in autonomous vehicle development, such as image recognition systems, speech detection systems, and other digital devices, require 5G technology to enable high-speed communication. In the same way, 5G technology is being used in the aerospace sector to increase avionics equipment reliability by reducing latency and increasing transmission speed. Furthermore, several countries have begun to invest in 5G technology in order to strengthen their digital infrastructure and remain competitive in the digital economy. The major countries that have embraced and deployed 5G wireless infrastructure include South Korea, China, the United States, and Germany. These countries are likely to offer DAQ systems prospects in a variety of end-user industries, including wireless communication and infrastructure. During the forecast period, this is projected to open up new prospects for the DAQ system market.
Many organisations are seeking to introduce new systems to address the rising demand for applications with the help of innovation, quality, and service in the worldwide DAQ system market, which is highly competitive. This is further driven by the increased competition among OEMs to adopt new technological advancements in the automotive, aerospace & defence, and energy sectors. To be competitive in the market, engineers and designers of these technical solutions must frequently test and upgrade their equipment. In recent years, major OEMs in the aerospace and automotive sectors in North America and Europe have focused their development efforts on the implementation of 5G and IoT in manufacturing. Top aerospace companies like Airbus and Boeing, for example, use IoT technology to do sophisticated analytics, which improves manufacturing performance by using live tracking and complex simulations to predict the equipment's lifecycle.
Market Size Available
2021 – 2026
2022 - 2027
By Application, By Type,By End-user
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
ABB Ltd, National Instruments, Keysight Technologies, Fortive Corporation, Teledyne, Schneider Electric SE, Ametek, Siemens AG, Rockwell Automation Inc., Tektronix, General Electric Ltd, Omron Corporation, Yokogawa Electric Co., Emerson Electric Co.
Research and analysis are the prominent application of DAQ, which is supposed to expand with a considerable growth rate in the coming years.
In the type segmentation of the global data acquisition system (DAQ) market, the hardware segment is anticipated to expand at a higher rate during the estimated period. The growth of this segment is attributed to the massive investments in the infrastructure, growing demand for automated processes to simplify the operations in industry and the increasing demand for real-time decision making and analysis.
Based on the end-user, the aerospace and defense segment has the largest market share and is anticipated to continue its dominance during the projection period. The growth of the sector is due to the substantial investment in the US, France and the UK and advent of new technologies like flying public taxies, connected cars, and autonomous vehicles.
Also, the automotive is expected to progress as the largest segment during the outlook period. Increasing demand for highly accurate, fast and precise DAQ systems for testing these new technologies in fields of wireless communication, autonomous vehicles, and connected cars is boosting the segment's growth.
Geographically, North America data acquisition systems market has the largest regional share in the global revenue, followed by the Asia Pacific, and Europe. It is also projected to be the fastest-growing segment during the prediction period due to the rising investments in aerospace and Défense, wireless communication, infrastructure and energy in the US and Canada.
Also, Asia-Pacific and Europe data acquisition systems markets are witnessing rapid growth owing to the rise in the IT industry in the emerging economies like China and India of Asia Pacific and the rising investments in the developed countries like UK, Switzerland, and others in Europe.
Major Key Players in the Global Data Acquisition System (DAQ) Market are
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Data Acquisition System (DAQ) Market, By Component
6.1.3 Market Size Estimations & Forecasts (2022 - 2027)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Data Acquisition System (DAQ) Market, By End-User
6.2.1 Aerospace & Defense
6.2.3 Power & Energy
6.2.5 Wireless Communication and Infrastructure
6.2.6 Market Size Estimations & Forecasts (2022 - 2027)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 Data Acquisition System (DAQ) Market, By Application
6.3.1 Research and Analysis
6.3.2 Manufacturing and Quality
6.3.3 Asset Condition Monitoring
6.3.4 Design Validation and Repair
6.3.5 Market Size Estimations & Forecasts (2022 - 2027)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2022 - 2027)
7.2.1 By Country
7.2.2 By Component
7.2.3 By End-User
7.2.4 By Application
7.3.1 By Country
126.96.36.199 Rest of Europe
7.3.2 By Component
7.3.3 By End-User
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
188.8.131.52 South Korea
184.108.40.206 South East Asia
220.127.116.11 Australia & NZ
18.104.22.168 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By End-User
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
22.214.171.124 Rest of Latin America
7.5.2 By Component
7.5.3 By End-User
7.5.4 By Application
7.6 Middle East and Africa
7.6.1 By Country
126.96.36.199 Middle East
7.6.2 By Component
7.6.3 By End-User
7.6.4 By Application
8. Key Player Analysis
8.1 National Instruments
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Keysight Technologies
8.5 Fortive Corporation
8.7 Siemens AG
8.8 Schneider Electric
8.10 Emerson Electric Co.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
The Data Acquisition System Market size was valued at US$ 1.89 billion in 2022 and is anticipated to reach the valuation of US$ 2.38 Billion by 2027 and is predicted to register a CAGR of 5.5% during 2022-2027.
Increasing need for real-time data monitoring in automotive as well as aerospace verticals, rising demand for high-speed technologies like 5G as well as shift towards industry 4.0 are the key drivers and opportunities for the market.
The star category includes companies like National Instruments Corp (National Instruments, US), Keysight Technologies (US), Siemens Digital Industries Software (US), Spectris PLC (UK), and Fortive (US). These businesses provide customized items to meet the needs of their clients. Furthermore, successful businesses employ effective supply chain tactics. These benefits provide these businesses a competitive advantage over their competitors.
The major strategies taken by the top players in the DAQ system market are product releases and negotiations such as collaborations, partnerships, and agreements.
During the projection period, North America holds the biggest market share in the DAQ system market.
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