Data Acquisition (DAQ) System Market to be Worth US$ 3.0 Billion by 2032

The global data acquisition (DAQ) system market was valued at US$ 1.7 Billion in 2021 and is projected to be valued at US$ 1.8 Billion in 2022. During the 2022-2032 period of assessment, demand is expected to rise at a 5.3% value CAGR, likely to reach US$ 3.0 Billion by the end of the said forecast period.

Moreover, hardware data acquisition (DAQ) system and aerospace & defense will continue to remain the primary beneficiaries of the data acquisition systems market, likely to register a CAGR worth 5.7% and 5.5% respectively, from 2022 to 2032. The U.S is projected to represent the highest growth across the global market.

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Key Trends:

• The data acquisition system market is expected to grow on account of growing human machine interface applications, which is expected to hold a significant share during the forecast period.
• HMIs are used in various locations, such as process control, factory floor, machines, portable handheld devices, etc. Applications of this technology include various appliances, automotive, machine health monitoring, and industrial automation, among others. An HMI solution improves the operator’s productivity and provides insights into system control and maintenance. For instance, the HMI function of setting off alarms provides visual indicators of a machine’s issue and severity.
• Technologies, such as Open Platform Communications Unified Architecture, integrated into PC-based machine controls, have allowed the safe transmission of encrypted data from machine to cloud and enterprise-level systems.
• Owing to the broadening of its functionality, through the integration with PLC applications or PC-based multi-user systems, HMI technology has also increased market adoption. In addition, the increasing adoption of Industrial IoT, coupled with these benefits of HMI, is expected to drive market growth.

Competitive landscape:

The global market for data acquisition systems is characterized by the presence of multiple vendors, aiming to offer extensive products to consumers. Additionally, key makers are focusing on developing the devices supported by the implementation of stringent government regulations, and are offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage upgradation and product differentiation to gain an edge over other competitors in the market.

• In July 2021, Dewesoft signed a sales contract with an Austrian company ELIN Motoren GmbH. The company had fully integrated a mandatory vibration measurement of each produced machine, motor or generator – as part of the final inspection procedure. When searching for a suitable DAQ system, the requirements were to keep it portable, measure vibration and electrical power with just one system (raw data), and that the delivery of the data during the test should flow flawlessly to the KS Tornado testbed. Dewesoft provided the right solution – DewesoftX data acquisition software, and fulfilled its requirement.
• In July 2021, Spectris acquired Concurrent Real-Time, a provider of high-performance real-time computer systems, solutions, and software for commercial and government markets. Concurrent Real-Time’s RedHawk Linux solutions deliver hard real-time performance in support of the world’s most sophisticated hardware-in-the-loop and man-in-the-loop simulation, high-speed data acquisition, process control, and low-latency transaction processing applications. This will expand Spectris’s abilities to provide sales and support from offices throughout North America, Europe, and Asia.
• In February 2021, Teledyne SP Devices, a business unit of Teledyne Technologies, announced the release of ADQ32, a fourth-generation modular data acquisition board optimized for high-throughput applications.

Key Segments Covered in the Data Acquisition (DAQ) System Industry Report:

By Offering :

• • Data Acquisition (DAQ) System Hardware
    • External Chassis and Modules
    • Plug In I/O Analog Boards
  • Data Acquisition (DAQ) System Software
    • Bundled
    • Third Party
•  By Speed :
  • High-Speed (>100 KS/S) Data Acquisition (DAQ) System
  • Low-Speed (>100 KS/S) Data Acquisition (DAQ) System
•  By Application :
  • Data Acquisition (DAQ) Systems for R&D
  • Data Acquisition (DAQ) Systems for Field Applications
  • Data Acquisition (DAQ) Systems for Manufacturing
•  By Vertical :
  • Automotive & Transportation
  • Aerospace & Defense
  • Power & Energy
  • Wireless Communication & Infrastructure
  • Environmental Monitoring
  • Healthcare
  • Food & Beverage
  • Other Verticals
•  By Region :
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Questionnaire answered in the Market outlook Report of Data Acquisition (DAQ) System include:

• What is the key strategy deployed by large players to maximize Data Acquisition (DAQ) System Market growth?
• What are the main challenges faced by players in the Data Acquisition (DAQ) System market Demand?
• With the advent of technological advancement, how will the Data Acquisition (DAQ) System market landscape change over the forecast period?
• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Data Acquisition (DAQ) System market size?

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