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