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 News

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.

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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).

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. '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'

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.

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.

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