Data Acquisition System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

  • Single User License $3500

Data Acquisition System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : January, 2023 | Semiconductor & Electronics

Report Digest

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 –

  • Yokogawa Electric (Japan)
  • Keysight Technologies (US)
  • HBM (Germany)
  • National Instruments (Texas)
  • Honeywell International (US)
  • Emerson Electric (US)

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.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?