Data Acquisition (DAQ) System Global Market Report 2024

The data acquisition (DAQ) system refers to a system that can measure and record physical or electrical properties to understand the system’s performance. DAQ systems are computer-based measurement systems that help in measuring an electrical or physical phenomenon such as current, voltage, pressure, temperature, or sound. These systems capture and store data from an actual system for further scientific and engineering review.

The main types of data acquisition (DAQ) systems are peripheral component interconnect (PCI), LAN extensions for instrumentation (LXI)/ ethernet, VME extensions for instrumentation (VXI), PCI extensions for instrumentation (PXI), universal serial bus (USB), and standalone. The main components include hardware and software. They offer high-speed (>100 ks/s) and low speed (< 100 ks/s). The various applications include research and analysis, manufacturing and quality, asset condition monitoring, and design validation and repair that are used by aerospace and defense, energy and power, automotive and transportation, wireless communication and infrastructure, water and wastewater treatment, healthcare, and food and beverages.

The data acquisition (DAQ) system market research report is one of a series of new reports that provides data acquisition (DAQ) system market statistics, including data acquisition (DAQ) system industry global market size, regional shares, competitors with a data acquisition (DAQ) system market share, detailed data acquisition (DAQ) system market segments, market trends and opportunities, and any further data you may need to thrive in the data acquisition (DAQ) system industry. This data acquisition (DAQ) system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The data acquisition (daq) system market size has grown strongly in recent years. It will grow from $1.83 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to evolving telecommunication infrastructure, research and development in life sciences, demand for energy efficiency, environmental monitoring and compliance, test and measurement requirements.

The data acquisition (daq) system market size is expected to see strong growth in the next few years. It will grow to $2.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increased demand for wireless daq solutions, advancements in wireless communication, precision agriculture, expansion of telehealth services, globalization of research and development. Major trends in the forecast period include advancements in sensor technologies, cloud integration for data storage and analysis, enhanced data visualization and analytics tools, compact and modular daq systems, customization and flexibility in software interfaces.

The increasing demand for automation is significantly driving the growth of the data acquisition (DAQ) system market. Automation refers to the application of technologies with minimal human intervention for producing and delivering goods and services. The majority of the industrial sectors are adopting automated technologies to cut back errors, reduce repetitive tasks, and lower processing costs. The increasing demand for automation in the industries is directly promoting the increased use of data acquisition (DAQ) systems. For instance, in October 2023, according to Cavintek Inc., a US-based firm that offers workflow automation and productivity applications, over 80% of business leaders said they were speeding up productivity automation and expanding the use of remote labor. 43% of firms plan to reduce their workforce by utilizing automation technologies. Therefore, the increase in demand for automation is driving the data acquisition (DAQ) system market growth.

The increasing implementation of Industry 4.0 is expected to propel the growth of the data acquisition (DAQ) system market in the coming years. Industry 4.0 refers to the continuous development of industrial technology automation and data interchange and also entails the application of current smart technologies, data analytics, and networking to create what some refer to as a smart factory. Industry 4.0 concepts improve the capabilities and features of data acquisition systems by fostering real-time, networked, and data-driven operations, consequently facilitating efficient and smart production processes. For instance, in October 2022, according to IoT Analytics GmbH, a Germany-based complete information analysis framework for the Internet of Things, AI, edge computing, cloud computing, and Industry 4.0, since the previous decade, annual funding for Industry 4.0 start-ups has increased by +319%. In 2021, $2.2 billion was devoted to future enterprises researching Industry 4.0 technology. Therefore, the increasing implementation of Industry 4.0 is driving the data acquisition (DAQ) system market.

Product innovations are the key trends gaining popularity in the data acquisition (DAQ) system market. The market players are developing innovative products for their market growth strategy. For instance, in November 2021, METIS Cyberspace Technology SA, a US-based Data Acquisition for maritime industry company, launched Ship Connect, the next-generation automated data-acquisition system to enable the development of ship performance analytics and enhance data transfer and monitoring. The system optimizes network bandwidth and transfers the readings to the METIS cloud platform from vessel equipment, making them immediately available for analysis.

Major companies operating in the data acquisition (DAQ) system market are focusing on producing innovative products, such as data acquisition modules, to better meet the needs of their existing consumers. Data acquisition modules are hardware elements that collect and analyze digital or analog data from external sources for a computing device or data system. For instance, in October 2021, Advantech Co., Ltd., a Taiwan-based manufacturing company of data acquisition systems, launched the iDAQ series of data acquisition modules. The iDAQ series is an innovative modular DAQ module and chassis series that includes the iDAQ-900 series chassis and the iDAQ-800 and 700 series modules. The iDAQ series divides standard PCI/PCIe card and USB module functionalities into multiple smaller functional pieces. Unlike standard multi-function cards, which have fixed I/O and functionalities, each iDAQ module only has one sort of function, such as a digital input, analog input, or even an IEPE input. Customers may configure their iDAQ system with various module combinations and specifications to fulfill a variety of test and measurement applications.

In July 2021, Spectris plc, a UK-based company operating in high-tech instruments, test equipment, and software acquired Concurrent Real-Time, Inc for an undisclosed amount. Through this acquisition, Spectris plc aims to enhance and grow its market-leading simulator platform businesses and fully integrate hardware-in-the-loop (‘HiL’) technology. Concurrent Real-Time, Inc is a US-based provider of high-performance, real-time computational hardware and software solutions.

Major companies operating in the in the data acquisition (daq) system market report are Siemens AG, National Instruments Corporation, Keysight Technologies, ABB Group, Fortive Corporation, Emerson Electric Company, Rockwell Automation Inc., General Electric Company, Schneider Electric, Honeywell International Inc., Agilent Technologies Inc., Advantech Co. Ltd., Yokogawa Electric Corporation, ADwin by Jäger Computergesteuerte Messtechnik GmbH, Data Translation Inc., Campbell Scientific Inc., Teledyne Technologies Incorporated, Tektronix Inc., Texas Instruments, Thermo Fisher Scientific Inc., Vishay Precision Group, Yokogawa Test & Measurement Corporation, Zhejiang Top Cloud-Agri Technology Co. Ltd., Campbell Scientific Australia Pty. Ltd., DGH Corporation, Diversified Technical Systems Inc., ESI Group, Fluke Calibration, HBM Test and Measurement, HIOKI E. E. CORPORATION, IMC Test & Measurement GmbH

North America was the largest region in the data acquisition (DAQ) system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data acquisition (daq) system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the data acquisition (daq) system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The data acquisition system market includes revenues earned by entities by providing flight data acquisition services, structural dynamics test systems services, local electronic data capture systems services. The market value includes the value of related goods sold by the service provider or included within the service offering. The data acquisition system market also includes sales of sensors, computers, signal conditioning gear which are used in providing data acquisition system services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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