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data acquisition system market

Data Acquisition System Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software); By Speed {High-speed (>100 KS/S), Low-speed (<100 KS/S)}; By Vertical; By Application; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Feb 2022
  • Pages: 112
  • Format: PDF
  • Report ID: PM2276
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global data acquisition system market was valued at USD 1.69 billion in 2021 and is expected to grow at a CAGR of 5.4% during the forecast period. The potential rise of Ethernet is one of the primary drivers of the data acquisition system market. Industrial Ethernet has developed quicker than traditional field buses in recent years and has surpassed them.

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Ethernet-based communication's cost-effectiveness, speed, and virtually unlimited distance possibilities continue to drive business networking and internet expansion. The increased desire for higher internet speeds, seamless integration of factory installations, IoT adoption, and industrial controls have fueled this demand.

Furthermore, the global adoption of industrial automation and smart manufacturing is propelling the information acquisition industry. To obtain more visibility of the machine as well as floor operations, these include tracking numerous system parameters and monitoring several information sources while sharing data in real-time, which includes PLCs, databases, maintenance apps, and existing information-gathering systems.

Although, In April 2021, Explorium, an automated external data acquisition platform, has announced the release of Signal Studio, a DAQ product for advanced analytics and machine learning that enables company and information analysts to quickly search and integrate the most relevant external data signals into their analytics pipeline. Thus, the major players are working to enhance the DAQ systems with advanced analytics is to boost the market growth during the forecast period.

However, consumers of DAQ systems are price-conscious, and they seek low-cost, high-quality information acquisition systems. The cost of a DAQ system, on the other hand, is determined by critical criteria such as sensors, channel counts, and the need to create a DAQ system that can withstand hard-working environments.

Due to technological breakthroughs in the design and development of this equipment, DAQ systems are getting increasingly sophisticated. As a result, stronger testing capabilities are necessary, and manufacturers must continually enhance their present equipment to meet the market demands of specific applications. Information acquisition system manufacturers must also conform to various technical standards, which raises the cost of information acquisition DAQ methods.

Data Acquisition System Market 2030

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Industry Dynamics

Growth Drivers
The data acquisition system market has observed extensive developments in the last few decades supported by various factors such as major players' initiatives, including partnerships, product launches, mergers and acquisitions, and collaborations, among others. For instance, in July 2021, ELIN Motoren GmbH, an Austrian firm, has inked a sales contract with Dewesoft. As part of the final inspection method, the company has fully incorporated an obligatory vibration measurement of each produced machine – motor or generator.

In addition, in April 2021, Piano, a global customer experience platform, has partnered with ID5, InfoSum, LiveRamp, and Usercentrics to expand its First-Party Data Acquisition solution, which integrates its information management, identity, and customer experience orchestration capabilities into a single method and view that gathers, unifies, and initiates user data acquisition across the whole digital ecosystem, stopping information leakage and poor ad performance while enhancing the customer experience.

Moreover, In July 2021, Spectris has acquired Concurrent Real-Time, a provider of high-performance real-time computer networks, solutions, and software for government and commercial operations. Concurrent Real-RedHawk Time's Linux solutions offer the world's most advanced hardware-in-the-loop and man-in-the-loop simulation, operation control, high-speed data acquisition investment, and low-latency trade processing applications with hard real-time performance. Spectris will be able to deliver sales and support from offices across North America, Europe, and Asia.

Report Segmentation

The market is primarily segmented based on offering, speed, vertical, application, and region.

By Offering

By Speed

By Vertical

By Application

By Region

  • Hardware
  • External chassis and modules
  • Plug-in I/O analog boards
  • Software
  • Bundled
  • 3rd Party
  • High-speed (>100 KS/S)
  • Low-speed (<100 KS/S)
  • Automotive & Transportation
  • Aerospace &Defense,
  • Power & Energy
  • Wireless Communications & Infrastructure
  • Environmental Monitoring
  • Healthcare
  • Food & beverage
  • Others
  • R&D
  • Field
  • Manufacturing
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Offering

Based on the offering segment, the hardware segment is the most significant revenue contributor in the global market in 2021 and is expected to retain its dominance in the foreseen period. Because of its modular design and ability to arrange diverse combinations to fulfill a wide range of bespoke experimental setups, information acquisition method hardware is frequently employed. Furthermore, due to interoperability and ease of integration, Ethernet usage is gaining traction, increasing demand for DAQ hardware.

DAQ hardware is in high demand since it is widely used in manufacturing applications, including process and discrete, laboratory/R&D, automotive, aerospace & military. The external chassis and module boost productivity and performance in DAQ and control applications. Faster adoption rates are emerging from the continuing migration to USB- and Ethernet-based front-end systems that give PC processing power and capability, ultimately pushing the market for external chassis and modules.

Geographic Overview

In terms of geography, North America had the highest share in 2021. Due to the significant number of early technology adopters in this region, the data acquisition (DAQ) market in North America has the largest market share and is projected to dominate the market over the forecast period. Favorable government reforms, strong industrial automation adoption, and smart manufacturing start-ups are projected to boost the European region's market share over the projection period.

Moreover, Asia Pacific is expected to witness a high CAGR in the global market. Rapid technological advancements, increased manufacturing units, stringent regulatory policies pertaining to product testing and measurement, strong government support for manufacturing and implementation of new technologies such as AI and the Internet of Things. Asia Pacific is a leading automobile manufacturer in China. The region's data acquisition system market is being driven by the increasing penetration of various automotive OEMs/plants in the concerned areas.

Competitive Insight

Some of the major players operating in the global data acquisition system market include ADLINK Technology, AMETEK, Inc., AstroNova Inc, Campbell Scientific Inc, Curtiss-Wright Corporation, Dataforth Corporation, Dewetron GmbH, Emerson Electric Co., Fortive, General Electric, Honeywell International Inc., imc Test & Measurement GmbH, Keysight Technologies, National Instruments Corp, Rockwell Automation Corporation, Schneider Electric, Siemens Digital Industries Software, Spectris PLC, Teledyne Technologies Incorporated, and Yokogawa Electric Corporation.

Data Acquisition System Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 1.69 billion

Revenue forecast in 2030

USD 2.71 billion

CAGR

5.4% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Segments covered

By Offering, By Speed, By Vertical, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

ADLINK Technology, AMETEK, Inc., AstroNova Inc, Campbell Scientific Inc, Curtiss-Wright Corporation, Dataforth Corporation, Dewetron GmbH, Emerson Electric Co., Fortive, General Electric, Honeywell International Inc., imc Test & Measurement GmbH, Keysight Technologies, National Instruments Corp, Rockwell Automation Corporation, Schneider Electric, Siemens Digital Industries Software, Spectris PLC, Teledyne Technologies Incorporated, and Yokogawa Electric Corporation.

Key Take-Away
Polaris Market Research
Data Acquisition System Market Size Global Report, 2022 - 2030