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.

Data Acquisition (DAQ) System Market Overview

The possible growth of Ethernet is one of the most important things driving the market for data acquisition (DAQ) systems. In the past few years, Industrial Ethernet has gotten better 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 any distance. This need has been brought on by the growing demand for faster internet connections, the seamless integration of manufacturing installations, the use of the Internet of Things, and industrial controls.

Also, the widespread use of industrial automation and smart manufacturing is making the business of getting information grow. These include keeping track of several structure parameters and monitoring multiple information sources, such as PLCs, databases, maintenance applications, and current information-gathering systems, while exchanging data in real time. This is done so that the machine and floor operations can be seen more clearly.

Although, Explorium, an automated external data acquisition platform, announced the release of Signal Studio in April 2021. Signal Studio is a DAQ product for advanced analytics and machine learning that makes it easy for companies and information analysts to find and add the most relevant external data signals to their analytics pipeline. So, the big players are working to improve DAQ systems with more advanced analytics to help the market grow over the next few years.

But people who buy DAQ systems are price conscious and want high-quality systems that don't cost much. On the other hand, the cost of a DAQ system is based on important factors like the number of sensors and channels and the need to make a DAQ system that can work in tough environments.

DAQ systems are getting more complicated because the technology used to make and improve them is getting better. To meet the needs of the market for specific applications, manufacturers must always improve the equipment they already have and come up with better ways to test. Information acquisition DAQ methods are more expensive because the people who make them have to follow a lot of technical standards.

Market Dynamics

Drivers

Rising emphasis on data monitoring in end user sectors

The market for data acquisition (DAQ) systems is growing because more data needs to be monitored around the world and more businesses want to use technology to make strategic decisions. In the aerospace and defence, government, energy, and auto industries, monitoring data improves the quality of operations and helps find problems early. Also, data monitoring helps make equipment work more efficiently with less help from people.

Growing advancements and flexibility of DAQ systems

Integration of control systems with DAQ solutions, which lets data be controlled in real time and viewed and analysed after it has been recorded, is one of the main things driving growth in industry. Aside from that, the widespread use of supervisory control and data acquisition (SCADA) systems in the food and beverage (F&B) industry to improve food quality management is a good thing for the need for DAQ systems. Using these systems with the Internet of Things (IoT) in home automation systems can also lead to more demand for products.

Restraints & Challenges

Cost and complexity of DAQ systems

People who buy DAQ systems are price-conscious, and they look for high-quality DAQ systems that don't cost too much. On the other hand, the cost of a DAQ system is based on important factors like the number of sensors and channels and the need to make a DAQ system that can work in tough environments. DAQ systems are getting smarter as new technologies are used to improve the design and development of this equipment. Because of this, testing needs to be better, and manufacturers need to keep improving their equipment to meet the needs of different applications.

Opportunities

Growing demand for high-speed connectivity technologies like 5G

5G technology is needed for image recognition systems, speech detection systems, and other digital devices used in the development of self-driving cars to improve how fast they can communicate. In the same way, 5G technology is being used in the aircraft industry to make avionics equipment more reliable by cutting down on latency and speeding up communication. Also, some countries have already started to invest in 5G technology to improve their digital infrastructure and stay competitive in the digital economy. South Korea, China, the United States, and Germany are all big countries that have adopted and set up 5G wireless infrastructure.

Segment Overview

Data Acquisition (DAQ) System Market, By Offering

The market is split into Hardware and Software based on what they offer. During the next few years, the DAQ hardware segment will still have the largest market share. Hardware can be connected to a computer through a communication interface, like a USB, or it can be installed directly in the motherboard. More and more people are switching to USB and ethernet-based front-end systems that give PCs more computing power and functionality. These things are making more people want this segment.

Data Acquisition (DAQ) System Market, By Speed

The market is divided into Low Speed (100 KS/S) and High Speed (>100 KS/S) groups based on how fast the products move. The High Speed (>100 KS/S) segment has the biggest share of the market and is expected to grow at the fastest rate over the next few years. DAQ software is used to analyse, standardise, and report on a huge amount of data in a smart way. It also helps test vehicles and parts in real-world conditions. These processes need high speed of more than 100 KS/S.

Data Acquisition (DAQ) System Market, By Application

The market is split into Research & Development, Field, and Manufacturing based on how it is used. During the next few years, the Research & Development application segment will continue to have the largest market share. In R&D, you need reliable test and measurement tools to make sure that the project works the way the calculations say it should and helps solve problems. DAQ systems are used in R&D to find out the parameters and characteristics of prototypes and preproduction models.

Data Acquisition (DAQ) System Market, By Vertical

Vertical divides the market into Aerospace & Defense, Energy & Power, Wireless Communication, Environment Monitoring, Food & Beverage, Healthcare, Automotive & Transportation, and Others. Over the next few years, the largest market share will be held by the aerospace and defence segment. DAQ systems are used to ship 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 Analysis

In 2021, North America had the most market share in terms of geography. North America has a large number 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 period 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 Asia-Pacific region of the world market is expected to have a high CAGR. Use of new technologies like artificial intelligence (AI) and the Internet of Things, more production capacity, stricter rules for testing and measuring products, and a lot of help from the government for manufacturing. The Asia Pacific is China's biggest car company. More auto OEMs and factories are moving into the area, which is increasing the need for data acquisition (DAQ) systems.

Scope Analysis:

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.
• In February 2021, ADQ32, a fourth-generation modular data acquisition board designed for high-throughput applications, was released by Teledyne SP Devices, a business unit of Teledyne Technologies.

Market Segmentation

This portion of the study on the Data Acquisition (DAQ) System Market gives detailed data on the segments at the country and regional level, thereby aiding the strategist in determining the target demographics for the relevant product or service and the impending opportunities.

Data Acquisition (DAQ) System Market, By Offering

• Hardware
• Software

Data Acquisition (DAQ) System Market, By Speed

• Low Speed (<100 KS/S)
• High Speed (>100 KS/S)

Data Acquisition (DAQ) System Market, By Application

• Research & Development
• Field
• Manufacturing

Data Acquisition (DAQ) System Market, 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