Artificial Intelligence
Data Acquisition (DAQ) System Market Is Expected To Reach around USD 2.88 Billion by 2030, Grow at a CAGR Of 5.1% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
Farmington, Jan. 26, 2023 (GLOBE NEWSWIRE) — The Global Data Acquisition (DAQ) System Market size was valued at USD 1.83 Billion in 2022 and is projected to reach USD 2.88 Billion by 2030, growing at a CAGR of 5.1% from 2023 to 2030. One of the most important things driving the market for data acquisition (DAQ) systems is the possibility that Ethernet will grow. Industrial Ethernet has gotten better over the past few years and now beats other field buses.
Commercial networking and the internet continue to grow because Ethernet-based communication is fast, cheap, and can be done from almost anywhere. This is because more and more people want faster internet connections, manufacturing installations that work together well, the Internet of Things, and industrial controls.
Request Sample Copy of Report “Data Acquisition (DAQ) System Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
- In July 2021, Dewesoft and an Austrian company called ELIN Motoren GmbH signed a sales contract. As part of the final inspection process, the company made it so that every machine, motor, and generator it made had to be checked for vibration. When looking for a good DAQ system, it had to be portable, measure vibration and electrical power with just one system (raw data), and send data to the KS Tornado testbed without any problems during the test. Dewesoft came up with the right solution, which was the DewesoftX data acquisition software, and met the need.
- In July 2021, Spectris bought Concurrent Real-Time, a company that makes high-performance real-time computer systems, solutions, and software for commercial and government markets. RedHawk Linux solutions from Concurrent Real-Time support the most complex hardware-in-the-loop and man-in-the-loop simulation, high-speed data acquisition, process control, and low-latency transaction processing applications in the world. This will make it easier for Spectris to sell and help customers from offices in North America, Europe, and Asia.
Segment Overview
By Offering
Based on what they offer, the market is divided into Hardware and Software. Over the next few years, DAQ hardware will still have the biggest share of the market. Hardware can be connected to a computer through a communication interface, like a USB, or it can be installed directly on the motherboard. People are switching more and more to front-end systems based on USB and Ethernet, which give PCs more computing power and features. More people want this segment because of these things.
By Speed
Based on how fast the goods move, the market is split into Low Speed (100 KS/S) and High Speed (>100 KS/S) groups. The market’s biggest share is in the High Speed (>100 KS/S) segment, which is also expected to grow the fastest over the next few years. DAQ software is used to smartly analyse, standardise, and report on a lot of data. It also lets cars and parts be tested in real-world conditions. For these things to work, they must move quickly, at more than 100 KS/S.
By Application
Based on how it is used, the market is divided into Research & Development, Field, and Manufacturing. The Research & Development application segment will continue to have the biggest share of the market over the next few years. In research and development (R&D), you need reliable tools for testing and measuring to make sure the project works the way the calculations say it should and helps solve problems. In R&D, DAQ systems are used to find out the parameters and characteristics of prototypes and preproduction models.
By Vertical
Vertical divides the market into Aerospace & Defense, Energy & Power, Wireless Communication, Environment Monitoring, Food & Beverage, Healthcare, Automotive & Transportation, and Other. Over the next few years, the aerospace and defence segment will have the biggest share of the market. DAQ systems are used to send out flight experiments to get real-time data from ground experiments, such as vision and navigation data from the auto-pilot board, and playback-acquired data in a real-time on-flight simulator to do R&D.
Regional Outlook:
In terms of geography, North America had the biggest market share in 2021. North America has a lot of early adopters of technology, so its data acquisition (DAQ) market has the largest market share and is expected to lead the market over the next few years. During the time frame of the projection, it is expected that the European area’s market share will grow due to positive changes in government, a large increase in industrial automation, and new intelligent manufacturing ventures.
Also, the CAGR is expected to be high in the Asia-Pacific part of the world market. Use of new technologies like artificial intelligence (AI) and the Internet of Things, more production space, stricter rules for testing and measuring products, and a lot of help from the government for manufacturing. The Asia Pacific is the largest automaker in China. Data acquisition (DAQ) systems are becoming more important as more auto OEMs and factories move into the area.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.1% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 2.88 Billion |
| By Offering | Hardware, Software, Others |
| By Speed | Low Speed (<100 KS/S), High Speed (>100 KS/S), Others |
| By Application | Research & Development, Field, Manufacturing, Others |
| By Vertical | Aerospace & Defense, Energy & Power, Wireless Communication, Environment Monitoring, Food & Beverage, Healthcare, Automotive & Transportation, Others |
| By Companies | Advantech Co. Ltd., Spectris PLC (HBM and Bruel & Kjaer and Omega), National Instruments Corporation, Schneider Electric SE, ABB Ltd, Honeywell International, Siemens AG, Rockwell Automation Inc., Keysight Technologies, General Electric Ltd., Omron Corporation, Yokogawa Electric Co., Tektronix, AMETEK (VTI Instruments), Bustec, Emerson Electric Co., Curtiss-Wright Corporation, DAQ Systems Co, Limited, Imc Dataworks, LLC, ADLINK Technology, Inc., Beijing GEMOTECH Intelligent Technology, DATAQ Instruments |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Drivers:
The market for data acquisition (DAQ) systems is growing because more data needs to be tracked around the world and more businesses want to use technology to make strategic decisions. Monitoring data helps improve the quality of operations in the aerospace and defence, government, energy, and auto industries. It also helps find problems early on. Monitoring data also helps equipment work well with less help from people.
Restraint & Challenges:
People who buy DAQ systems are price-conscious, so they look for high-quality DAQ systems that don’t cost too much. On the other hand, the cost of a DAQ system depends on important things like the number of sensors and channels and the need to make a DAQ system that can work in harsh environments. As new technologies are used to improve the design and development of DAQ systems, they are getting smarter. Because of this, testing needs to get better, and manufacturers need to keep making their equipment better so it can be used in a variety of ways.
Opportunity:
Image recognition systems, speech detection systems, and other digital tools used to build self-driving cars need 5G technology to improve how quickly they can talk to each other. In the same way, the aircraft industry is using 5G technology to make avionics equipment more reliable by reducing latency and speeding up communication. Also, some countries have already started investing in 5G technology to improve their digital infrastructure and stay competitive in the digital economy. South Korea, China, the US, and Germany are all big countries that have adopted and set up 5G wireless infrastructure.
Key Segments Covered:
Top Market Players:
Advantech Co. Ltd., Spectris PLC (HBM and Bruel & Kjaer and Omega), National Instruments Corporation, Schneider Electric SE, ABB Ltd, Honeywell International, Siemens AG, Rockwell Automation Inc., Keysight Technologies, General Electric Ltd., Omron Corporation, Yokogawa Electric Co., Tektronix, AMETEK (VTI Instruments), Bustec, Emerson Electric Co., Curtiss-Wright Corporation, DAQ Systems Co, Limited, Imc Dataworks, LLC, ADLINK Technology, Inc., Beijing GEMOTECH Intelligent Technology, DATAQ Instruments, and others.
By Offering
- Hardware
- Software
By Speed
- Low Speed (<100 KS/S)
- High Speed (>100 KS/S)
By Application
- Research & Development
- Field
- Manufacturing
By Vertical
- Aerospace & Defense
- Energy & Power
- Wireless Communication
- Environment Monitoring
- Food & Beverage
- Healthcare
- Automotive & Transportation
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, 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)
- Rest Of the World
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Notes to Editor:
Research by Morgan Stanley in a report titled “eVTOL/Urban Air Mobility TAM Update: A Slow Take-Off, But Sky’s the Limit” https://advisor.morganstanley.com/the-busot-group/documents/field/b/bu/busot-group/Electric%20Vehicles.pdf]
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