The global data acquisition (DAQ) system market size is expected to reach USD 2.71 billion by 2030, according to a new study by Polaris Market Research. The report “Data Acquisition (DAQ) 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 (R&D, Field, Manufacturing); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
One of the key aspects driving the industry growth is merging control techniques with information-gathering systems, which permits real-time control and post-recording presentation and analysis. Also, aerospace, wireless communication, automotive, and manufacturing are among the industries that are increasingly adopting 5G technology. As an illustration, 4G technology is inadequate to enable the development and adoption of autonomous vehicles in the automobile sector. As a result, the need for 5G technology connectivity increases the demand for products, fueling industry growth.
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Additionally, the expanding usage of data acquisition DAQ techniques in the healthcare sector is driving business growth since they facilitate the transfer of medical information and improve the standard of care. In addition, the growing use of supervisory control and data acquisition (SCADA) systems in the food & beverage sector to enhance food quality management significantly impacts the demand for DAQ systems. These internet-of-things techniques used in home automation structures may also be connected to rising product demand.
Based on the vertical, the aerospace and defense segment accounted for the leading share in the market in 2021. The necessity for testing aircraft and their equipment with real-time monitoring features across numerous metrics and extreme environmental difficulties is driving the growth of the DAQ method market for the aerospace & defense segment.
Market players such as 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 are some key players operating in the global market. In February 2021, Teledyne SP Devices, a Teledyne Technologies Incorporated brand, developed the ADQ32, a 4th modular information acquisition board designed for high-throughput applications.
Polaris market research has segmented the data acquisition (DAQ) system market report based on offering, speed, vertical, application, and region:
Data Acquisition (DAQ) System, OfferingOutlook (Revenue - USD Billion, 2018 - 2030)
Data Acquisition (DAQ) System, Speed Outlook (Revenue - USD Billion, 2018 - 2030)
Data Acquisition (DAQ) System, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Data Acquisition (DAQ) System, Application Mode Outlook (Revenue - USD Billion, 2018 - 2030)
Data Acquisition (DAQ) System, Regional Outlook (Revenue - USD Billion, 2018 - 2030)