Data Acquisition (DAQ) System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Data Acquisition (DAQ) System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A2312
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Market Overview 2023-2028:

The global data acquisition (DAQ) system market reached a value of US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, growing at a CAGR of 5.2% during 2023-2028. The growing integration in the agriculture industry to control and monitor irrigation systems, rising utilization of data-centric approaches in the production and operations of companies to maintain a competitive edge, and the increasing usage in the food and beverage (F&B) industry to acquire real-time data to identify problems, reduce waste, and prevent expensive losses represent some of the key factors driving the market.

A data acquisition (DAQ) system refers to an information system that captures, stores, measures, and distributes information from various sources. It comprises DAQ software and hardware with sensors, actuators, and underlying network support for data communication between the acquisition components. It also consists of an analog-to-digital converter (ADC) that takes data from the environment and converts it into discrete levels, which can be easily interpreted by the processor. It functions by performing signal conditioning followed by data conversion and storage, wherein converted signals are transformed into digital signals and stored in the memory of the computer. It enables companies in obtaining valuable information about reality to improve their performance and increase economic benefit. It also provides better control over the processes and operations of an organization and faster response to failures. It helps increase the efficiency and reliability of machinery installed in steel mills, utilities, and research laboratories. It also improves data security by automating various tasks and reducing risks. Furthermore, as a DAQ system facilitates the supervision of company operations and processes without human interaction, its demand is rising around the world.

Global Data Acquisition (DAQ) System Market

Data Acquisition (DAQ) System Market Trends:

At present, the increasing demand for DAQ systems due to rising preferences for automating business processes represents one of the primary factors influencing the market positively. Besides this, the growing adoption of DAQ systems in the food and beverage (F&B) industry to acquire real-time data for identifying problems, reducing waste, and preventing expensive losses is offering a favorable market outlook. In addition, the increasing integration of DAQ systems in the agriculture industry to control and monitor irrigation systems based on real-world data obtained from sensors is propelling the growth of the market. Apart from this, the rising utilization of data-centric approaches in the production and operations of companies to maintain a competitive edge is contributing to the growth of the market. Additionally, the increasing demand for industrial ethernet, as it is ideal for handling factory noise, factory process needs, and harsh environments, is supporting the market growth. Moreover, the rising employment of the internet of things (IoT) based systems in various industries for monitoring inventory and issuing an alert in case of deviations is bolstering the market growth.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global data acquisition (DAQ) system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component type, speed, channel and end user.

Component Type Insights:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Hardware
    • External Chassis and Modules
    • Plug-In Analog I/O Boards
  • Software
    • Bundled
    • 3rd Party
       

The report has provided a detailed breakup and analysis of the data acquisition (DAQ) system market based on the component type. This includes hardware (external chassis and modules and plug-in analog I/O boards) and software (bundled and 3rd party). According to the report, hardware (external chassis and modules) represented the largest segment.

Speed Insights:

  • High Speed (>100 KS/s)
  • Low Speed (<100 KS/s)
     

A detailed breakup and analysis of the data acquisition (DAQ) system market based on the speed has also been provided in the report. This includes high speed (>100 KS/s) and low speed (<100 KS/s). According to the report, high speed (>100 KS/s) accounted for the largest market share.

Channel Insights:

  • < 32 Channels
  • 32-128 Channels
  • > 128 Channels
     

A detailed breakup and analysis of the data acquisition (DAQ) system market based on the channel has also been provided in the report. This includes < 32 channels, 32-128 channels, and > 128 channels.

End User Insights:

  • Aerospace and Defense
  • Energy and Power
  • Automotive and Transportation
  • Wireless Communication and Infrastructure
  • Water and Wastewater Treatment
  • Healthcare
  • Food and Beverages
  • Others
     

A detailed breakup and analysis of the data acquisition (DAQ) system market based on the end user has also been provided in the report. This includes aerospace and defense, energy and power, automotive and transportation, wireless communication and infrastructure, water and wastewater treatment, healthcare, food and beverages, and others. According to the report, aerospace and defense accounted for the largest market share.

Regional Insights:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for data acquisition (DAQ) system. Some of the factors driving the North America data acquisition (DAQ) system market included the growing number of businesses using technology, increasing emphasis on data monitoring, rising demand for accuracy and precision in business operations, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global data acquisition (DAQ) system market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include ABB Group, AMETEK Inc., Emerson Electric Co., Fortive Corporation, General Electric Company, Honeywell International Inc., Keysight Technologies, National Instruments Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Spectris PLC, Yokogawa Electric Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Component Type, Speed, Channel, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Group, AMETEK Inc., Emerson Electric Co., Fortive Corporation, General Electric (GE) Company, Honeywell International Inc., Keysight Technologies, National Instruments Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Spectris PLC and Yokogawa Electric Company
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the data acquisition (DAQ) system market from 2017-2028.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global data acquisition (DAQ) system market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the data acquisition (DAQ) system industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global Data Acquisition (DAQ) system market was valued at US$ 1.9 Billion in 2022.

We expect the global Data Acquisition (DAQ) system market to exhibit a CAGR of 5.2% during 2023-2028.

The rising deployment of DAQ systems across the Food and Beverage (F&B) industry to acquire real-time data for identifying problems, minimizing waste, preventing expensive losses, etc., is primarily driving the global Data Acquisition (DAQ) system market.

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of Data Acquisition (DAQ) systems by numerous organizations to automate various tasks and reduce risks, during the remote working scenario.

Based on the component type, the global Data Acquisition (DAQ) system market can be categorized into hardware and software. Currently, hardware, including external chassis and modules account for the majority of the global market share.

Based on the speed, the global Data Acquisition (DAQ) system market has been segregated into high speed (>100 KS/s) and low speed (<100 KS/s), where high speed (>100 KS/s) currently exhibits a clear dominance in the market.

Based on the end user, the global Data Acquisition (DAQ) system market can be bifurcated into aerospace and defense, energy and power, automotive and transportation, wireless communication and infrastructure, water and wastewater treatment, healthcare, food and beverages, and others. Currently, the aerospace and defense sector holds the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global Data Acquisition (DAQ) system market include ABB Group, AMETEK Inc., Emerson Electric Co., Fortive Corporation, General Electric Company, Honeywell International Inc., Keysight Technologies, National Instruments Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Spectris PLC, Yokogawa Electric Company, etc.

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Data Acquisition (DAQ) System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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