Data Acquisition System Market by Component (Software and Hardware), Speed (High Speed (>100 KS/S) and Low Speed (<100 KS/S)), Application (Research & Development, Manufacturing, and Asset Condition Monitoring), and Industry Vertical (BFSI, Healthcare & Life Sciences, Telecommunications & IT, Government & Public Sector, Manufacturing, Consumer Goods & Retail, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2029

Data Acquisition System Market Statistics: 2027

Data acquisition (DAQ) is the process of measuring an electrical count such as voltage, current, temperature, pressure, or sound with a computer. DAQ system consists of various parts that includes sensors, DAQ measurement hardware, and a computer with programmable software. It is also known as a data logger. It basically collects data from real world and converts it into a signal, this data can be processed by computer. It is widely used in industrial, commercial electronic, and other engineering fields as it is capable to capture electrical signal and convert it into analog and digital signal. DAQ systems help with processing power, productivity, display, and connectivity capabilities of computers, providing a more powerful, flexible, and cost-effective measurement solution.

Market scope and structure analysis:

COVID-19 Scenario Analysis: 

• Policy-makers and government organizations across the globe have used AI platforms, big data analytics, and data visualization tools to predict where the virus might spread in real-time. In addition, various research entities preferred advance technologies to identify medications that may be helpful to fight against COVID-19.
• Collecting vital data on COVID-19, such as transmissibility, risk factors, incubation period, and mortality rate is used for visualizations, creating mathematical models, and training neural networks through analyzing data. This has positively impacted the data acquisition system market growth in 2020.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Rise in demand for data monitoring among end user sectors propels the demand for data acquisition systems, which is expected to boost the market growth during the forecast period.  In addition, emergence of big data, advent of IoT devices, and rise in technological advancements in data acquisition systems are expected to propel growth of the data acquisition system market. Moreover, rise in investments in the automotive sector, owing to its technologically driven demand is also anticipated to boost the market growth. This is attributed to rise in demand for industrial mobility for remotely managing data process in automated vehicles, which, in turn, is expected to boost the market growth. 

However, implementation of the data acquisition system requires high cost which can be a drawback for the market growth. Contrarily, growing demand for automated data acquisition systems and need for high-speed connectivity technologies, such as 5G, in end-user sectors is an opportunistic factor expected to promote the growth of the data acquisition data acquisition system market in the forecasted period.

Growth in adoption of IoT and machine to machine technologies

Increase in requirement for tracking real-time data, which is used for navigation or tracking, improving visibility, and controlling production activities drive the adoption of data acquisition systems. Integration of data acquisition systems with equipment presents such as IoT devices and data analytics will allow manufacturers to monitor performance and improve quality to boost overall efficiency of the data system software. Growth in the use of internet of things (IoT) devices and machine-to-machine communication (M2M) technologies among various industries has broadened the scope of R&D for developing future applications of DAQ systems.

Rise in investments in automotive sector

Rise in investments in the automotive sector, owing to its technologically driven demand is a major factor expected to drive growth of the data acquisition system market. This is attributed to data acquisition systems that allow virtual load tests to be conducted on the computer and mobile tests, which further helps in testing vehicles and components under real conditions. Autonomous driving, connectivity, and electric mobility also drive the data acquisition data acquisition system market growth. Manufacturing industries in Asia-Pacific is expected to adopt data acquisition systems at a significant rate, owing to its ability to optimize supply chain of the industry.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global data acquisition system industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the data acquisition system market.
• The current market is quantitatively analyzed from 2021 to 2027 to highlight the global data acquisition system market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the data acquisition system market. 
• The report provides a detailed global data acquisition system market analysis based on competitive intensity and how the competition will take shape in coming years.

 Key Market Segments & Key Market Players