Data Acquisition System Market - Snapshot
Data acquisition, or DAQ or data logger, refers to a process of studying a physical phenomenon using a computer software. This process allows for receiving, storage, and distribution of information. A data acquisition system depends on different sensors in order to gather information related to a wide range of physical phenomena, such as current, voltage, pressure, sound, and temperature. All the data is gathered in an analog signals form.
Over the period of past few years, there is significant growth in the adoption of DAQ systems owing to their ability to offer support for a wide range of Ethernet protocols. This factor is boosting the sales opportunities in the global data acquisition system market.
Energy and power, aerospace and defense, wireless communication and infrastructure, automotive and transportation, healthcare, water and wastewater treatment, food and beverages are some of the key end-use industries of the data acquisition systems.
Government bodies for many countries across the globe are increasing support for launch and deployment of DAQs in the industrial sector. This factor is projected to work in favor of growth of the global data acquisition system market in the upcoming years.
In recent years, there is tremendous increase in the use of hardware across modular designs. One of the key factors for this increased adoption is its ability to offer tailored set up experience. Thus, surge in demand for hardware is likely to generate prominent expansion opportunities in the global data acquisition system market.
The demand for electric mobility, connected vehicles, and automated vehicles is increasing in the recent years. As a result, companies in the data acquisition system market are experiencing a substantial growth in data generation from the transport and automotive industry. This factor, in turn, is estimated to boost the sales opportunities in the global data acquisition system market in the upcoming years.
Global Data Acquisition System Market: Overview
Data acquisition is the process of evaluating a physical phenomenon with computer software. It is a process of receiving, storing, and distributing of information. The other name for data acquisition is data logger. The global data acquisition market is gaining popularity for the last few years.
Advent of digitalization across the globe is the driving factor for the robust expansion of the global data acquisition market in the coming years.
TMR Research (TMR) shares a global analysis of data acquisition market such as size, share, and trends in the market. The report also shares pertinent information factors leading the growth of the global data acquisition market.
Global Data Acquisition System Market: Key Developments
Some of the key developments in the global data acquisition market that have recently taken place include.
In 2018, the Key sight Technologies, a global player announced the speed test developments with increasing measurement and scan rates. The rising designing challenge necessitates the advent of new testing methods to ensure the smooth functioning complex designing and fast data logging. This is expected to take the global data acquisition market towards a grand growth in the upcoming years.
In May 2019, at Sensors Expo & Conference in San Jose, Kistler debuts announced that it will be launching completely a new technology in the market in the U.S. market. KiDAQ will not just offer high quality measurement standards but also the world’s first ever automated calculation about the uncertainty of measurement.
Some of the most prominent competitors operating in the competitive landscape of global data acquisition system market include –
Global Data Acquisition System Market: Drivers and Restraints
Some of the growth drivers of the global data acquisition system market include:
Government to Support Global Data Acquisition System Market
The rising support by the government to introduce and deploy DAQ across the industrial sector and the capability of DAQ to provide support to wide range of Ethernet protocols is expected to expand the global data acquisition market during the forecast period.
Additionally, the hardware segment of data acquisition is projected to grow at a significant rate in the global data acquisition system market. The growth can be attributed to wide use of hardware in modular design and customized set up experience can be provided with the help of hardware. This is projected to drive the global data acquisition market in the near future.
Automotive Industry to Provide Impetus to Global Data Acquisition Market
The automotive and transport industry is projected to increase the global data acquisition system market at substantial rate during the forecast period. The growth can be due to the rising demand for automated vehicles, electric mobility, and connected vehicles.
Global Data Acquisition System Market: Geographical Analysis
The global data acquisition system market is expected to largely held by Asia Pacific. This is mainly due to fast paced industrialization and growing number of manufacturing plants of textiles, automotive, pharmaceuticals, and power sector. The large share is expected from economies such as India, South Korea, China, and Japan. Therefore, the APAC region is likely to keep the demand and supply chain of data acquisition system growing.
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