Data Acquisition (DAQ) Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[230+ Page Report] According to the report published by Facts & Factors, the global data acquisition (DAQ) market size was evaluated at $2.1 billion in 2022 and is slated to hit $4.8 billion by the end of 2030 with a CAGR of nearly 6.2% between 2023 and 2030. The data acquisition market report is an indispensable guide to growth factors, challenges, restraints, and opportunities in the global marketspace. The data acquisition industry report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.

Market Overview

Data acquisition is the method of sampling signals measuring real-world physical conditions and transforming it into online numeric values which can be effectively handled by a computer. The data acquisition systems transform analog waveforms into online processing values.

Various components of these systems include sensors, analog-to-digital converters, and signal-conditioning circuitry. Reportedly, the data acquisition application is controlled by programmable software that makes use of programming languages including LabVIEW, Java, C, C++, and C#.

Key Insights

• As per the analysis shared by our research analyst, the global data acquisition (DAQ) market is projected to expand annually at the annual growth rate of around 6.2% over the forecast timespan (2023-2030)
• In terms of revenue, the global data acquisition market size was evaluated at nearly $2.1 billion in 2022 and is expected to reach $4.8 billion by 2030.
• The global data acquisition market is anticipated to record massive growth over the forecast period owing to a rise in the acceptance of data acquisition solutions in the power & energy, automotive & transportation, and aerospace & defense sectors.
• Based on application, the research & development segment is predicted to contribute majorly towards the global market share over the forecast timeline.
• In terms of components, the hardware segment is projected to account for a major share of the global market in 2023-2030.
• On the basis of end-user, the automotive segment is set to register the highest CAGR over the period from 2023 to 2030.
• Region-wise, the Asia-Pacific data acquisition (DAQ) market is projected to register the highest CAGR during the assessment period.

Industry Growth Factors

• The massive use of data monitoring tools in various sectors to boost the global market trends

Growing focus on data monitoring across the end-use sectors for improving operational efficiency and early fault detection will prompt the global market demand. In addition to this, the industry 4.0 revolution and the launching of 5G network can bring a paradigm shift in the global data acquisition (DAQ) market across the globe. The rise in the acceptance of data acquisition solutions in power & energy, automotive & transportation, and aerospace & defense sectors will proliferate the growth of the market globally.

Apart from this, an increase in automated business processes is one of the major factors influencing the growth of the global market. The rise in the use of data acquisition tools in the food & beverages segment for gaining real-time data for detecting problems will prompt market expansion across the globe.

Restraints

• The growing complicatedness witnessed in the data acquisition systems hinders the global industry expansion

High capital expenditure and complexity of data acquisition tools along with demand for high-quality low-cost DAQ systems can put brakes on the global data acquisition (DAQ) industry.

Opportunities

• Introduction of the 5G network due to the huge need for high-speed network connections to open new growth avenues for the global market

Humungous demand for high-speed network connectivity and the launching of 5G networks will open new growth opportunities for the global data acquisition (DAQ) market. Reportedly, equipment used in self-driven automotive including voice detection tools and image recognition tools requires the use of 5G networks for enhancing high-speed connection.

Challenges

• The need to produce new data acquisition tools can pr be a challenging task for the growth of the global industry

The global data acquisition industry is highly competitive and manufacturers are trying to create new systems for fulfilling the escalating app demand. This has proved to be a big challenge to the global industry expansion.

Segmentation Analysis

The global Data Acquisition (DAQ) market is sectored into components, applications, end-user, and regions.   

In terms of components, the global data acquisition (DAQ) market is sectored into hardware and software segments. Furthermore, the hardware segment, which accounted for more than half of the global market share in 2022, is set to maintain its segmental dominance in the forecasting timeframe. The segmental surge in the coming eight years can be credited to a massive focus on data monitoring and burgeoning demand for accuracy and exactness in measurement in a slew of end-use sectors.

Based on the application, the data acquisition (DAQ) industry across the globe is divided into design validation & repair, research & development, manufacturing & quality, and asset condition monitoring segments. The research & development segment, which contributed about 53% of the global industry share in 2022, is slated to rule the global industry expansion even in the upcoming years. The growth of the segment in the coming years can be due to the immense need for real-time data analysis from the automotive, wireless communication, aerospace, and defense sectors.

On the basis of end-user, the global data acquisition (DAQ) market is divided into wireless communication & infrastructure, automotive, aerospace, energy, and defense & government services segments. Moreover, the automotive segment, which accounted for a major share of the global market in 2022, is predicted to register the fastest CAGR over the coming years. The segmental surge over the forecast timeline can be owing to the immense use of data acquisition tools including virtual load tests & on-road data acquisition.

Recent Breakthroughs

• In the third quarter of 2021, Dewesoft Company, a data acquisition firm offering test & measurement solutions, signed a sales deal with ELIN Motoren GmbH, a key player in the electrical machine & solutions business. The move is likely to expand the scope of growth of the data acquisition industry globally in the upcoming years.
• In the second half of 2021, Spectris plc, a key supplier of precision instruments & controls, purchased Concurrent Real-Time, a major supplier of high-performing real-time computer hardware & software services to government & commercial sectors. The initiative will embellish the expansion of the data acquisition sector across the globe in the forecasting period.
• In the first quarter of 2021, Teledyne SP Devices, a division of Teledyne technologies and manufacturer of high-performing digitizers, launched ADQ32, a high-end twelve-bit data acquisition board, for high throughput. The move will boost the growth of the data acquisition industry globally in the years to come.

Report Scope

Regional Insights 

• Asia-Pacific Data Acquisition (DAQ) market to register the highest CAGR over the forecast period

Asia-Pacific, which accounted for more than 57% of the global data acquisition (DAQ) market revenue in 2022, is anticipated to record the highest CAGR during the assessment timeline. The regional market expansion over 2023-2030 can be due to breakthroughs in technologies, a rise in the production units, and strict enforcement of laws by the government related to measuring & testing of products.

Apart from this, acceptance of new technologies including IoT and AI along with the presence of giant players in the region will uplift the regional market surge. Additionally, the humungous penetration of various automotive OEMs in the region with escalating production of vehicles will boost regional business trends.  

Furthermore, the North American data acquisition (DAQ) industry is set to witness massive growth in the forecasting years. The factors that are likely to determine the growth of the regional market include the presence of key players such as Siemens, National Instruments, Keysight, and Tektronix in the region.

Competitive Space

• Omron Corporation 
• National Instruments 
• Keysight Technologies 
• Siemens AG 
• Schneider Electric SE 
• HBM Inc 
• Yokogawa Electric Corporation 
• Ametek Inc. 
• Tektronix Inc. 
• Emerson Electric Co. 
• Fluke Corporation 
• General Electric Company 
• Honeywell International Inc. 
• Brüel & Kjær 
• Rockwell Automation 
• Macrodyne Technologies Inc. 
• Teledyne Technologies Incorporated.

The global data acquisition (DAQ) market is segmented as follows:

By Component

• Hardware
• Software

By End-User

• Automotive
• Aerospace
• Energy
• Wireless Communication & Infrastructure
• Defense & Government Services

By Application

• Research & Development
• Manufacturing & Quality
• Design Validation & Repair
• Asset Condition Monitoring

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America