Global Demand for Data Acquisition (DAQ) System Is Expected To Rise at a 5.3% Value CAGR 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.

Overall, the data acquisition system landscape is poised to yield an absolute dollar opportunity worth US$ 1.2 Billion by 2032.

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Rising in Demand for Data Acquisition System

Data acquisition systems are becoming increasingly popular as businesses and organizations look to collect, store, and analyze data more efficiently. The demand for data acquisition systems is rising due to the need for more accurate and timely data collection, as well as the need to reduce costs associated with manual data collection. Additionally, the increasing use of connected devices and the Internet of Things (IoT) is driving the demand for data acquisition systems.

As more devices become connected, the need for efficient data collection and analysis increases. Data acquisition systems are also becoming more popular due to their ability to provide realtime insights into operations and performance. This allows businesses to make better decisions and improve their operations. Finally, the increasing use of artificial intelligence (AI) and machine learning (ML) is driving the demand for data acquisition systems as these technologies require large amounts of data to be collected and analyzed in order to function properly.

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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.

Key Companies Profiled:

  • Advantech Co. Ltd.
  • Spectris PLC (HBM and Bruel & Kjaer and Omega)
  • National Instruments Corporation
  • Schneider Electric SE
  • ABB Ltd
  • Honeywell International
  • Siemens AG
  • Rockwell Automation Inc.
  • Keysight Technologies
  • General Electric Ltd.

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Key Segments Covered :

  • 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)
    • Low-Speed (>100 KS/S)
  • by Application :
    •  R&D
    • Field Applications
    •  Manufacturing
  • by Vertical :
    • Automotive & Transportation
    • Aerospace & Defense
    • Power & Energy
    • Wireless Communication & Infrastructure
    • Environmental Monitoring
    • Healthcare
    • Food & Beverage
    • Other Verticals

Questionnaire answered in the report include:

  • How the industry has grown?
  • What is the present and future outlook on the basis of region?
  • What are the challenges and opportunities?
  • Why the consumption in region?
  • In which year segment is expected to overtake segment?

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