A data acquisition system (DAQ) is a system designed to collect, measure, process and store data from various sources, such as sensors, instruments, or other devices. The collected data is then used for monitoring, control and analysis in various applications. The primary purpose of a DAQ is to convert real-world physical parameters such as, temperature, pressure, humidity, voltage into digital data that can be analyzed and used for decision-making.
The data acquisition (DAQ) system market consists of sales, by entities (organizations, sole traders, or partnerships), of data acquisition (DAQ) system that integrate sensors, signal conditioning hardware, data acquisition hardware and computer software to capture and analyze data efficiently. They are utilized in laboratory research, industrial automation, test and measurement applications and monitoring systems across various sectors. Users of data acquisition (DAQ) systems include engineers, scientists, manufacturers and technicians who rely on accurate data collection to enhance product development, maintain quality control and monitor equipment performance.
The global data acquisition (DAQ) system market was valued at $1,595.01 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 3.00%.
Rising Adoption Of IoT
The rising adoption of IoT is expected to propel the growth of the data acquisition (DAQ) system market during the historic period. IoT (Internet of Things) refers to the network of physical objects or things embedded with sensors, software and other technologies to connect and exchange data with other devices and systems over the internet. Automation is rising due to advancements in technology, increasing demand for efficiency and productivity and the need to mitigate labor shortages and reduce operational costs. IoT involves the integration of sensors, devices and systems that generate vast amounts of real-time data. Data acquisition (DAQ) systems are essential for collecting, processing and analyzing this data to optimize operations in various industries such as manufacturing, energy and healthcare. For instance, in September 2024, according to IoT Analytics GmbH, a Germany-based non-governmental organization, the number of connected IoT devices reached 16.6 billion by the end of 2023, a 15% increase from 2022, with projections indicating a further rise to 18.8 billion by the end of 2024. Therefore, the rise in automation is driving the growth of the data acquisition (DAQ) system market in the historic period.
Next-Generation Data Acquisition (DAQ) Systems For Advancing Accuracy, Precision, And Industrial Applications
Major companies operating in the data acquisition (DAQ) system market are focusing on developing advanced solutions, such as next-generation data acquisition, to enhance data accuracy and precision. Next-generation data acquisition (DAQ) is the advanced systems and technologies designed for faster, more accurate and versatile data collection, processing and analysis. For instance, in May 2024, Dewesoft, a Slovenia-based provider of data acquisition (DAQ) systems, launched IOLITE X, a cutting-edge data acquisition system for various industrial applications such as vibration monitoring, structural health assessment and dynamic testing. The IOLITE X data acquisition system features high-speed sampling of up to 200 kS/s per channel with 24-bit resolution, dual Gigabit Ethernet ports for flexible connectivity, a fanless rugged chassis suitable for industrial environments and is compatible with OpenDAQ, ensuring ease of integration and setup in various applications.
Emerson Electric Co. was the largest competitor with a 4.92% share of the market, followed by HBK World. and Keysight Technologies Inc.
Data Acquisition (DAQ) System Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global data acquisition (DAQ) system market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for data acquisition (DAQ) system? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The data acquisition (DAQ) system market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider data acquisition (DAQ) system market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by component, by speed, by application and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the data acquisition (DAQ) system market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by component, by speed, by application and by end-user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for data acquisition (DAQ) system providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Peripheral Component Interconnect (PCI); LAN Extensions For Instrumentation (LXI) or Ethernet; VME Extensions For Instrumentation (VXI); PCI Extensions For Instrumentation (PXI); Universal Serial Bus (USB); Standalone
- 2) By Component: Hardware; Software
- 3) By Speed: High-Speed (>100 KS/S); Low-Speed (<100 KS/S)
- 4) By Application: Research Analysis; Manufacturing And Quality; Asset Condition Monitoring; Design Validation And Repair
- 5) By End-User: Aerospace; Defense; Traditional Energy; Renewable And Green Energy; Automotive And Mobility; Machine Building; Service And Education; Food And Beverage; Public Transport; Manufacturing And Industry; Healthcare; Water And Wastewater Treatment; Others
- Companies Mentioned: Emerson Electric Co.; HBK World; Keysight Technologies Inc.; Dewesoft; DEWETRON
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Other APAC Countries; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; data acquisition (DAQ) system indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.