Data Acquisition (DAQ) System Market to Surge to USD 17.37 Billion by 2032 | Owing to Increased Rising Need for Real-Time Data Analysis | Report by SNS Insider

Austin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Innovations In Technology

• In 2023, GE launched the Mentor Visual iQ HD-advanced video borescope for non-destructive testing. It provides HD image quality, and an updated connection and helps users in various ways to quickly achieve the purpose of industrial inspections.
• In 2023, Fujifilm launched the DigitSm DynamIx HR2 high-resolution digital radiography system. This means boosted image quality, increased processing speed, and improved workflow which come together to create peace of mind for NDT within multiple industries.

The Data Acquisition (DAQ) System Market Share is expected to be valued at USD 8.84 Billion in 2023. It is estimated to reach USD 17.37 Billion by 2032, growing at a CAGR of 7.8% during 2024-2032.

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Key Companies:

• National Instruments Corp
• Spectris PLC
• Honeywell International Inc
• Siemens Digital Industries Software
• Dataforth Corporation
• Teledyne Technologies Incorporated
• ADLINK Technology
• Yokogawa Electric Corporation
• Keysight Technologies
• Rockwell Automation Corporation

The data acquisition (DAQ) system market is expected to witness significant growth due to the growing need for real-time data analysis and high-performance testing solutions is a key factor in several industries. The rising usage of Industry 4.0 and smart manufacturing technologies is another important factor driving the growth of the Data Acquisition (DAQ) System Market. Industry 4.0 process automation is seeing significant growth, fueled by 5.4% in 2022. This increase is in line with wider industry patterns, with most managers (over 80%) speeding up workflow automation and remote work, while 74% of employees show a readiness to learn new skills for these adjustments. Real-time data acquisition and analysis are becoming more important as industries shift towards automated and connected production processes. DAQ systems are essential in facilitating these technologies by supplying the required data to enhance production procedures, enhance product excellence, and diminish operational expenses.

“Hardware had the biggest share in 2023, accounting for more than 54%, thanks to its flexibility, performance, and integration features.”

The hardware led the market in 2023 with a market share of over 54%, attributed to its modular design and provision of configuring different combinations that meet numerous custom test settings. Increasingly DAQ hardware is being used across industries because of its flexibility, performance, and ease of integration. Growth in demand for DAQ hardware is supplemented by the increased implementation of Ethernet systems and the ongoing adoption of USB, as well as investigation into more advanced Ethernet-friendly approaches that enhance PC computing & performance.

“The Aerospace & Defense industry dominated the Data Acquisition (DAQ) System Market in 2023."

The aerospace & defense sector dominated the market in 2023 with a major market share. This is largely because of the requirement for thorough testing against boundless and innumerable environmental extremes about deployed aircraft and parts. Thus, DAQ systems play a significant role in the testing of aerospace products and their components to ascertain that they conform to certain performance parameters. These tests are carried out during the design, development & production phases of aerospace components to ensure that Aerospace Components, ground systems, and full aircraft systems comply with the requirements.

Data Acquisition System Market Report Scope & Overview:

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“Asia-Pacific data acquisition (DAQ) system market from 2024 to 2032."

Asia-Pacific is estimated to emerge as the fastest-growing region during the forecast period 2024-2032. The rapid technological advancements and production unit expansion among others are likely to fuel the high growth potential in this market. Further, the market is driven by the availability of leading industry players in Asia Pacific denoting epitome dependency on well-known companies residing within countries such as China, Japan, and India that altogether have demand for DAQ systems. The industrial bases across these economies have been on the rise as well as an escalating sophistication in the manufacturing processes necessitating advanced DAQ solutions. It will, therefore result playing a key role in the growth of the global Data Acquisition (DAQ) system market as well as among the APAC region.

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Key Takeaways Related To Report:

• Customers will acquire a thorough comprehension of the Data Acquisition (DAQ) System Market, encompassing important trends, drivers of growth, and market dynamics.
• The report offers thorough segment analysis to assist clients in recognizing the most profitable segments and making informed investment choices.
• Insights from different regions help clients understand market growth opportunities, so they can adjust their strategies accordingly.
• The report provides a thorough examination of the competitive environment, enabling clients to recognize important players, recent advancements, and possible collaborations or takeovers.
• Predictions on future growth and market trends give clients important guidance for planning their future business strategies and taking advantage of new opportunities.

Table of Contents – Major Key Points

1. Introduction

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Data Acquisition System Market Segmentation, By Offering

• Hardware
• Software

8. Data Acquisition System Market Segmentation, By Speed

• High-speed (>100 KS/S)
• Low-speed (<100 KS/S)

9. Data Acquisition System Market Segmentation, By Industry Vertical

• Aerospace & Defense
• Wireless Communications & Infrastructure
• Automotive & Transportation
• Power & Energy
• Environmental Monitoring
• Food & beverage
• Healthcare
• Others

10. Data Acquisition System Market Segmentation, By Application

• Manufacturing
• R&D
• Field
• Others

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Use Case and Best Practices

15. Conclusion

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