The global demand for Data Acquisition System Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.
A data acquisition (DAQ) system is an assembly of software and hardware that automatically obtains data from one or more sensors or transducers and enters directly into a computer system. The various components of a data acquisition system are DAQ hardware, signal conditioning hardware, sensors and actuators, and a computer for running the DAQ software. The primary purpose of a DAQ system is to obtain from the real world and digitizing it to analyze monitor, display, and store it on the computer. It helps to enhance the overall performance of an organization by improving the efficiency of processes or machinery, reducing data redundancy and updating errors, analyzing and resolving issues faster. DAQ system finds usage in various applications such as automotive and transportation, aerospace and defense, environment monitoring, energy and power, food & beverage, healthcare, and wireless communication, among others.
The key factors contributing to the growth of data acquisition systems are the growing adoption of industrial automation and the ever-increasing importance of data monitoring, as it helps with early fault detection and improved operational efficiency. The increasing need for precision and accuracy in measurement applications related to end-use industries and the rising demand for equipment that helps make strategic decisions in enterprises positively influence the DAQ system market.
The demand for central monitoring is rising as more and more industries are coming up in remote places, thereby driving the DAQ system market. Other factors such as the application of Industry 4.0 in the automotive and aerospace industry, growing investment in renewable energy power plants, infrastructure, power transmission, and distribution are fueling the demand for DAQ systems. Furthermore, increasing adoption of the SCADA system in the food & beverage industry to improve quality control of food, utilization of DAQ system, IoT in home automation solutions, and healthcare sector for medical data transmission and improved patient care will create new growth opportunities. The DAQ system market is facing some challenges hampering its growth. These include software compatibility issues, the need for high computational power for extensive and complex real-time data analysis, and complexities associated with interfacing and signal conditioning.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of data acquisition system. The growth and trends of data acquisition system industry provide a holistic approach to this study.
This section of the data acquisition system market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- High Speed (>100 KS/S)
- Low Speed (<100 KS/S)
- Aerospace & Defense
- Energy & Power
- Automotive & Transportation
- Wireless Communication & Infrastructure
- Environmental Monitoring
- Food & Beverages
This section covers the regional outlook, which accentuates current and future demand for the Data Acquisition System market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Data Acquisition System Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the data acquisition system market include 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 and Yokogawa Electric Company. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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