Global Data Acquisition Market Projected to Reach USD 2.58 Billion by 2028

 Posted on: Nov-2022 | Semiconductor & Electronics

The Global Data Acquisition Market Size Was Estimated to be Worth Roughly USD 1.70 Billion in 2021 and is Predicted to Grow to Around USD 2.58 Billion by 2028. The Global Data Acquisition Market Is Predicted to Grow at A CAGR of Roughly 6.12% During the Forecast Period.

A data acquisition (DAQ) system uses a range of sensors to collect information on physical phenomena like the voltage, current, temperature, pressure, and sound in the form of analogue signals. The incoming signals are ready for further study and analysis thanks to the signal conditioning circuits and analog-to-digital converters (ADC) that are incorporated. It provides excellent control and prompt response to failure when manufacturing commercial goods like cars, planes, large machinery, and medical devices. As a result, it is used in many different industries, such as research and development, process control, combustion analysis, and quality management.

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The expanding advances related to plug-in data acquisition board size are contributing factors to the market's expansion. Furthermore, it is anticipated that the market for data acquisition (DAQ) systems will expand due to the increased adoption of specialised solutions for critical decision-making. The market for data acquisition (DAQ) systems is expected to be driven by the rising number of industrial facilities being built in outlying regions over the course of the forecast years.

Furthermore, data acquisition hardware is widely used for computer-based control and automation, design validation, design verification, diagnostics, and manufacturing and quality tests. The Data Acquisition (DAQ) System Market is also anticipated to grow as a result of deeper analysis and design activities, such as modelling the behavior of scientific phenomena.

However, important factors like sensor counts, channel counts, and the requirement to design a DAQ system to withstand challenging working environments all affect a DAQ system's price. The price will increase as channel count and speed increase. Due to technological improvements in the design and development of this equipment, DAQ systems are getting more and more sophisticated. Higher testing capabilities become necessary as a result, and manufacturers are constantly forced to update their current technology to meet the requirements of certain applications.

Global Data Acquisition Market Scope and segmentation

Attribute

Details

Market Size in 2021

USD 1.70 billion

Estimated Market Size in 2028

USD 2.58 billion

CAGR Growth Rate

6.12 % CAGR

Historical Year

2016 to 2021

Forecast Years

2022-2028

Segmentation

By Offering

By Speed

By Vertical

Major Regions Covered

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • UK
    • Germany
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • The Middle East & Africa
    • GCC Countries
    • South Africa
  • Rest of Middle East & Africa

Report Coverage

Revenue forecast, company share, growth factors, and recent trends

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The global Data Acquisition market is segmented based on offering, speed, vertical and region.

The market has been divided into hardware and software segments based on offerings. The DAQ hardware category will continue to command the largest market share over the expected years. Adoption rates are accelerating due to the shift toward front-end systems that are USB and Ethernet-based and that offer PC computing power and functionality. A communication interface, like a USB, can be used to connect hardware to a computer or to the motherboard. The demand for this market segment is rising as a result of these factors.

The market has been broken down into many verticals, including Aerospace & Defence, Energy & Power, Wireless Communication, Environment Monitoring, Food & Beverage, Healthcare, Automotive & Transportation, and Others. The aerospace & defence category will have the most market share during the anticipated time frame. Using playback-acquired data from a real-time on-flight simulator for research and development, as well as vision and navigation data from the auto-pilot board, DAQ systems are used to ship out flight experiments and collect real-time data from the experiments on the ground.

Regional Insights

North America, is expected to account for a substantial share in the data acquisition market in 2021 and it held more than XX% share in terms of value. Asia Pacific is expected to witness fastest growth in the near future due to the presence of large industrial bases for electronic products in China, Japan, Korea and other infrastructure in the region.

List of Prominent Players in the Data Acquisition Market

  • ABB Group
  • AMETEK Inc.
  • Emerson Electric Co.
  • Fortive Corporation
  • General Electric (GE) Company
  • Honeywell International Inc.
  • Keysight Technologies
  • National Instruments Corporation
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Spectris PLC 
  • Yokogawa Electric Company
  • Others      

Recent Developments:

April 2021- The global customer experience platform Piano entered into a partnership with ID5, InfoSum, LiveRamp, and Usercentrics to extend its First-Party Data Acquisition solution, that integrates its data management, identity, and customer journey orchestration capabilities and provides one system and one view that collects, unifies and activates user data across the entire digital ecosystem, preventing data leakage and poor ad performance while improving customer experience.

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