Global Data Acquisition (DAQ) System Market

According to the latest report by IMARC Group, titled “Data Acquisition (DAQ) System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global data acquisition (DAQ) system market reached a value of US$ 1.8 Billion in 2021. A data acquisition (DAQ) system is an information system that stores, collects, measures, controls, and distributes information regarding physical phenomena, such as temperature, pressure voltage, current, and sound, in the form of analog signals. It comprises various parts, including DAQ measurement hardware, sensors, and a computer with programmable software. A DAQ system is widely used in commercial and industrial sectors to capture the electrical signal and convert them into analog and digital signals from instruments and sensors located at isolated sites. It also aids in providing a fast response to failure and excellent control while manufacturing commercial products, such as automobiles, aircraft, large machinery, and medical devices.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Data Acquisition (DAQ) System Market Trends-

The rising emphasis on data monitoring across various industrial verticals is primarily driving the DAQ system market growth. This, in confluence with the easy availability of high-speed internet connectivity and the advent of industry 4.0, are creating a positive outlook for the market. Additionally, the widespread product adoption across the automotive sector to conduct virtual load tests and assess vehicles and components under real conditions is acting as another growth-inducing factor. Apart from this, the integration of DAQ systems with the internet of things (IoT)-enabled devices and machine-to-machine communication (M2M) technologies to improve visibility, control production activities, monitor performance, improve quality, and boost overall efficiency are providing a considerable boost to the market growth. Additionally, the increasing demand for supervisory control and data acquisition (SCADA) systems in the food and beverage (F&B) industry to meet the food quality standards is positively impacting the market growth. Other factors, including rising demand for data monitoring to increase operational efficiency, extensive research and development (R&D) activities, and the widespread product adoption in the healthcare industry, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 5.5% during 2022-2027, reaching a value of US$ 2.4 Billion by 2027.

Market Summary:

• On the basis of the component type, the market has been divided into hardware (external chassis and modules and plug-in analog I/O boards) and software (bundled and 3rd party).
• Based on the speed, the market has been bifurcated into high speed (>100 KS/s) and low speed (<100 KS/s).
• On the basis of the channel, the market has been classified into < 32 , 32-128, and > 128 channels.
• Based on the end user, the market has been divided into aerospace and defense, energy and power, automotive and transportation, wireless communication and infrastructure, water and wastewater treatment, healthcare, food and beverages, and others.
• Based on the region, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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.

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