USD 1.9 billion
Data Acquisition System Market Size, Share, Growth Analysis, By Offering(Hardware (External Chassis & Modules, Plug-In Analog I/O Boards), Software (Bundled, Third-Party)), By Speed(High-Speed (>100 KS/S), Low-Speed (<100 KS/S)), By Application(R&D, Field, Manufacturing), By Vertical(Aerospace & Defense, Energy & Power, Automotive & Transportation, Wireless Communication & Infrastructure), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2206 |
Region:
Global |
Published Date: October, 2024
Pages:
197
|Tables:
120
|Figures:
77
Data Acquisition System Market Insights
Global Data Acquisition System Market size was valued at USD 1.96 billion in 2022 and is poised to grow from USD 2.07 billion in 2023 to USD 3.21 billion by 2031, growing at a CAGR of 5.63% during the forecast period (2024-2031).
Growing demand for data monitoring in different industry verticals is projected to primarily boost the demand for data acquisition systems over the coming years. Rising emphasis on the adoption of data-driven decision-making around the world is also forecasted to bolster the adoption of data acquisition system in the future. Surging use of industrial automation and growing adoption of connected devices and Internet of Things (IoT) technologies also present new opportunities for data acquisition system providers in the long run. Moreover, advancements in data acquisition system technologies are also slated to bolster the global data acquisition system market growth in the long run. On the contrary, complexity in integration and deployment, lack of skilled professionals, and high initial investments are forecasted to emerge as key deterrents for data acquisition system demand across the study period and beyond.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
5.7% CAGR
Global Data Acquisition System Market ($ Bn)
Country Share for North America Region (%)
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Data Acquisition System Market Segmental Analysis
Global Data Acquisition System Market is segmented by Offering, Speed, Application, Vertical, and Region. Based on Offering, the market is segmented into Hardware (External Chassis & Modules, Plug-In Analog I/O Boards), Software (Bundled, Third-Party). Based on Speed, the market is segmented into High-Speed (>100 KS/S), Low-Speed (<100 KS/S). Based on Application, the market is segmented into R&D, Field, Manufacturing, Others. Based on Vertical, the market is segmented into Aerospace & Defense, Energy & Power, Automotive & Transportation, Wireless Communication & Infrastructure, Environmental Monitoring, Healthcare, Food & Beverages, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Offering
The hardware segment is forecasted to account for a major share of the global data acquisition system market. The indispensable nature of hardware components such as sensors, devices, and monitoring devices in a data acquisition system allows this segment to hold its dominance. Increasing investments in the development of new hardware components for data acquisition systems to enhance their functionality are also expected to boost revenue generation from this segment. Moreover, increasing demand for customized data acquisition systems for different applications in various industry verticals are also expected to bolster the sales of novel hardware components in the long run.
Increasing sophistication of data acquisition systems is pushing the demand for advanced software solutions and making it the fastest-growing segment in this industry. Growing demand for better user interfaces and rising emphasis on improving the functionality of data acquisition systems are expected to help promote the demand for better software. Integration of advanced technologies such as artificial intelligence and machine learning is also forecasted to help software segment bolster the global data acquisition system market forecast through 2031 and beyond. Reduction of data redundancies and improved security are also features that can be achieved through advanced data acquisition system software.
Analysis by Vertical
The aerospace & defense industry vertical is forecasted to account for the largest global data acquisition system market share in the future. Increasing complexity of aerospace and defense systems is pushing the demand for extensive testing during development and manufacturing phases. Imposition of stringent mandates to ensure the safety of aircraft are also expected to boost sales of data acquisition systems in this segment going forward. Efforts to improve the performance of aircraft in harsh environments and conditions to enhance its safety are also expected to create new opportunities for data acquisition system suppliers focusing on this industry vertical in the long run.
Meanwhile, the demand for data acquisition systems in the power and energy industry vertical is slated to rise at a notable pace in the future. Growing emphasis on improving energy efficiency around the world to maximize sustainability is expected to offer lucrative business scope for data acquisition system providers in the long run. Use of data acquisition system in the energy industry helps providers identify consumption, reduce losses, and enhance the overall efficiency of energy infrastructure. Energy companies can also utilize data acquisition systems to facilitate informed decision-making to optimize energy generation and distribution in the long run.
Global Data Acquisition System Market By Offering
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Data Acquisition System Market Regional Insights
North America is predicted to dominate the global data acquisition system demand outlook across the forecast period. Rapid adoption of industrial automation, growing demand for smart manufacturing solutions, and presence of a developed technological infrastructure are expected to aid the dominance of this region. The United States and Canada are the leading countries for data acquisition system providers looking to make a mark in the North American region. Surging investments in the aerospace and defense industry are also expected to help boost the demand for data acquisition systems in this region through 2031 and beyond.
The Asia Pacific region is slated to emerge as the fastest-growing regional market for data acquisition system providers in the world. Growing use of advanced technologies, rising data generation volumes, and adoption of data-driven decision-making are key factors promoting the sales of data acquisition system in this region. The emphasis on improving industrial output in this region is also promoting the use of automation solutions thereby also boosting data acquisition system demand outlook as well. China, India, and Japan are estimated to emerge as the top markets for data acquisition system companies operating the Asia Pacific region over the coming years.
Global Data Acquisition System Market By Region
- Largest
- Fastest
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Data Acquisition System Market Dynamics
Data Acquisition System Market Drivers
Growing Adoption of Industial Automation
-
Industries around the world are opting for automation solutions to improve operational efficiency and maximize profits, which in turn, is expected to favor the adoption of data acquisition system going forward. Data acquisition systems are critical in industrial automation for monitoring and controlling manufacturing processes along with enabling real-time data collection, analysis, and decision-making.
Rise in Adoption in Aerospace & Defense
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The aerospace and defense industry is becoming increasingly complex by the day and the need for testing and data collection is more prominent than ever before. Use of data acquisition systems enables accurate performance evaluation under diverse conditions, supporting innovation and ensuring safety compliance in the aerospace and defense industry.
Data Acquisition System Market Restraints
Complexity in Integration
-
Integrating a data acquisition system with other legacy systems and technologies could be a very capital-intensive as well as labor-intensive task. Additional costs of integration and need for skilled professionals are expected to further complicate the integration process and have a negative impact on the global data acquisition system market outlook through 2031 and beyond.
High Initial Costs of Implementation
-
Implementing data acquisition systems is a very capital-intensive task as it requires high capital for installation, customization, and training. Moreover, the high costs of advanced data acquisition systems further make implementation expensive and hurts data acquisition system adoption. This restraint is especially prominent for small and medium businesses going forward.
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Data Acquisition System Market Competitive Landscape
Data acquisition system providers should focus on creating simple yet effective products to boost their sales and revenue generation potential in the future. Data acquisition system companies can also collaborate and partner with automation providers to maximize their business scope and develop application specific solutions. Mergers and acquisitions are slated to remain popular strategies for companies looking to expand their global market presence and share.
Top Player’s Company Profiles
- Keysight Technologies
- Spectris
- Siemens AG
- Adlink Technology
- Ametek
- Dewesoft
- Teledyne Technologies
- Yokogawa Electric
- Astronova
- Campbell Scientific
- Curtiss-Wright
- Dewetron
- Data Forth
- Emerson Electric
- Gantner Instruments
- General Electric
- Graphtec
- Hioki
- Honeywell
- IMC Test & Measurement
- Kistler
- MTS Systems
- Rockwell Automation
- Schneider Electric
- Sefram Instruments
Recent Developments
- In April 2024, FMK INC, a start-up based in South Korea, announced the launch of its new TSI-T001 tunnel safety inspection system. The offering was also equipped with autonomous data acquisition capabilities.
- In June 2023, imc Test & Measurement, an instrument supplier based in Germany, announced the launch of its new data acquisition system. imc ARGUSfit is a modular data acquisition system with a simple design for easy installation and integration. The new solution also provides real-time data processing capabilities in the device itself.
- In October 2021, Advantech, a leading provider of computer and technology solutions announced the launch of iDAQ Modular DAQ Series. The new offerings came with modular functionality to provide high application scope across multiple industry verticals.
Data Acquisition System Key Market Trends
- Integration of Artificial Intelligence and Machine Learning: data acquisition system providers can leverage advanced technologies such as artificial intelligence and machine learning to improve decision-making abilities of the systems and minimize human errors. Companies can utilize other advanced technologies to automate their data acquisition process and maximize profits. Predictive analysis and anomaly detection can also be provided through these technologies.
- Cloud-Based Data Acquisition System: Data acquisition system providers can invest in the development of cloud-based offerings to maximize their business scope in the long run. Companies can leverage advanced cloud technologies to enhance the scalability, flexibility, and affordability of data acquisition systems in the long run. Targeting this data acquisition system market trend can help companies expand their business scope and revenue generation potential.
Data Acquisition System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, rapid digitization and increasing adoption of automation in different industry verticals are projected to primarily augment the demand for data acquisition systems over the coming years. On the contrary, high complexity of installation and integration is slated to impede data acquisition system market development in the future. North America is estimated to account for the majority of data acquisition system demand outlook in the world owing to rapid adoption of advanced technologies. Use of machine learning and AI technologies could also create new growth opportunities for data acquisition system market players.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.96 billion |
| Market size value in 2031 | USD 3.21 billion |
| Growth Rate | 5.63% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Data Acquisition System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Data Acquisition System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Data Acquisition System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Data Acquisition System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Acquisition System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Acquisition System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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