Global Data Acquisition (DAQ) Market Share Is Expected To Grow At A CAGR Of 6.2% By 2030

30-May-2023 | Facts and Factors

According to the Facts & Factors report, the data acquisition (DAQ) market size globally was nearly $2.1 billion in 2022 & is anticipated to hit nearly $4.8 billion by 2030 along with securing a CAGR  of 6.2% over 2023-2030.

Data acquisition is the process of digitizing data from across the globe so that it can be demonstrated, analyzed, and stored on a desktop or laptop. Reportedly, it can be referred to as a method of measuring the temperature of the room as a digital value by using sensors including thermocouples. Some of the upgraded data acquisition tools include integration of reporting software & data analysis, remote control & monitoring alternatives, and network connectivity. For the record, data acquisition tools include an analog-to-digital converter, sensor, and signal conditioning.

Browse the full report “Data Acquisition (DAQ) Market Size, Share, Growth Analysis Report By Component (Hardware and Software), By Application (Research & Development, Manufacturing & Quality, Design Validation & Repair, and Asset Condition Monitoring), By End-User (Automotive, Aerospace, Energy, Wireless Communication & Infrastructure, and Defense & Government Services), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030”  at https://www.fnfresearch.com/data-acquisition-daq-market

Rising acceptance of data acquisition services in the power & energy, automotive & transportation, and defense & aerospace sectors will proliferate the growth of the global data acquisition (DAQ) market. Rise in the internet speeds, seamless integration of industry deployments, penetration of IoT, and rise in industrial controls will steer the demand for data acquisition tools. Large-scale acceptance of factory automation as well as smart manufacturing activities globally are a few of the major drivers of the global market.

Furthermore, data acquisition systems help in increasing the turnover for the firms along with assisting the latter in capturing real-time data as well as analyzing it correctly. Breakthroughs in the electronics industry have resulted in the use of cost-efficient sensors and monitoring tools, thereby widening the range of scope of growth of the market across the globe.

However, the complexity of the data acquisition tools can prove to be a big hindrance in the growth path of the global data acquisition (DAQ) industry. Nonetheless, the rapid use of ethernet in various industries as compared to system buses has opened new vistas of growth for the global industry. This will nullify the negative effect of the impediments on the growth of the global market.

Segmental Overview:

The global data acquisition (DAQ) market is divided into component, application, end-user, and regions.

The component segment of the global data acquisition (DAQ) market is segmented into hardware and software segments. Moreover, the hardware segment, which accounted for over 50% of the global market share in 2022, is predicted to retain its segmental dominance in the forecasting timeline. The segmental growth in the years ahead can be attributed to a large-scale focus on data monitoring along with immense demand for accuracy and exactness in measuring data across various end-use sectors.  

On the basis of application, the data acquisition (DAQ) industry across the globe is bifurcated into design validation & repair, research & development, manufacturing & quality, and asset condition monitoring segments. The research & development segment, which accounted for about half of the global industry share in 2022, is predicted to rule the global industry surge even in the forthcoming years. The growth of the segment in the coming years can be due to growing business requirements for real-time data analysis in the automotive, aerospace, wireless communication, and defense sectors.

In terms of end-user, the data acquisition (DAQ) market across the globe is segmented into wireless communication & infrastructure, automotive, aerospace, energy, and defense & government services segments. Moreover, the aerospace segment is predicted to dominate the segmental growth in the coming years.

The segmental surge over the forecast timeline can be owing to the humungous demand for data acquisition tools enabling safe & better-managed air travel. In addition to this, the launching of proficient space exploration equipment will steer the segmental surge.

Regional Analysis:

In addition to this, the Asia-Pacific region, which contributed nearly three-fifths of the global data acquisition (DAQ) market share in 2022, is expected to establish a leading position in the global market over the assessment timeline. The regional market uplift from 2023 to 2030 can be owing to technological innovations, increment in manufacturing capacity, and stringent government laws associated with the measurement & testing of products.

In addition to this, the use of novel technologies including IoT and AI coupled with the presence of key players in the sub-continent will lead to an upsurge in the growth of the regional market. Additionally, the growing penetration of various automotive OEMs in the Asia-Pacific zone and the rise in automotive production will spearhead the market landscape in the years to come.

Report Scope

Competitive Analysis:

Key players in the global data acquisition (DAQ) market include 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., and Teledyne Technologies Incorporated.

Recent Developments:

• 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.

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 Region

• 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

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