Data Acquisition (DAQ) System Market Worth $2.4 Billion by 2025 - Exclusive Report by MarketsandMarkets™

Data Acquisition (DAQ) System Market Worth $2.4 Billion by 2025 - Exclusive Report by MarketsandMarkets™

PR Newswire

CHICAGO, May 15, 2020

CHICAGO, May 15, 2020 /PRNewswire/ -- According to the new market research report "Data Acquisition (DAQ) System Market by Offering (Hardware and Software), Speed (High Speed (>100 KS/S), Low Speed (<100 KS/S)), Application (R&D, Field and Manufacturing), Vertical, and Region - Global Forecast 2025", published by MarketsandMarkets™, the Data Acquisition (DAQ) System Market size is estimated to grow from USD 1.8 billion in 2020 to USD 2.4 billion by 2025, at a CAGR of 5.3%. The major driving factors of the DAQ system industry are the increasing implementation of Industry 4.0 across aerospace and automotive sectors, technological advancements and flexibility of DAQ systems, and a growing emphasis on data monitoring.

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The DAQ system software market is the fastest-growing market

The DAQ software converts the analog voltage corresponding to the temperature into binary numbers. The driver software and application software are different software components in a DAQ system. The driver software provides application software the ability to interact with a DAQ device. It simplifies communication with the DAQ device by abstracting low-level hardware commands and register-level programming.

DAQ software allows stimulation and acquisition in a very wide range of frequencies, from a few hundred Hz to several hundred kHz, and accurately calculates the dynamic parameters of the test component in R&D. Huge investments, an increasing number of validations tests, tracking of real-time data, and online analysis has led to an increase of DAQ software in R&D applications.

Browse in-depth TOC on "Data Acquisition (DAQ) System Market"
104 – Tables
43 – Figures  
177  – Pages

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R&D application to hold the largest share of the DAQ system market in 2025

In R&D, dedicated test and measurement tools are required to ensure that the project functions according to the calculations and assists in resolving problems. In R&D, DAQ systems acquire the component parameters and characteristics of prototypes and preproduction models. Data loggers are also used widely in R&D, such as for the measurement of acceleration forces in amusement parks, carrying out cell culture experiments in microgravity onboard the space station, measuring acceleration for the avalanche emergency system, and the fall detection of smartphones. Many countries in APAC, such as India, China, Japan, and the Republic of Korea, are heavily investing in R&D, which is likely to increase the demand for DAQ systems. China alone has been largely responsible for the growing demand of APAC in R&D.

Automotive & transportation is the fastest-growing vertical in the DAQ system market

The DAQ system market has a huge opportunity in the automotive segment. The automotive sector is highly technology-driven and is one of the largest investors in R&D, with an estimated investment of USD 125 billion in 2018, according to the Auto Alliance. DAQ systems help from virtual load tests conducted on the computer to mobile tests on the field, such as on-road load DAQ, and also helps test vehicles and components under the real conditions of use. During the testing of vehicles and their components, DAQ software is used to intelligently standardize, analyze, and report a large amount of data. Data loggers have been used extensively in commercial vehicles and passenger cars. The key trends that are expected to drive the demand for the DAQ system during the forecast period include the increasing adoption of electric vehicles (EVs) and fuel cell mobility, connectivity and digitalization, and autonomous car developments.

North America to hold the largest share of the DAQ system market in 2025

Rising demand for DAQ systems in verticals such as automotive & transportation (train networks & mass transit), aerospace & defense, and energy & power is expected to support the market growth in North America. North America has the largest aerospace & defense sector in the world and is also the largest exporter of aerospace & defense systems. Added to this, North America is the second-largest automotive manufacturing region in the world, thus providing opportunities for the growth of the DAQ systems market. The growing adoption of smart solutions in the industrial, automotive, power, oil & gas, pharmaceuticals, and healthcare sectors to improve performance and reduce the overall operational cost is also likely to support the growth of the DAQ system industry in North America.

Key players in the DAQ system market are National Instruments (US), Keysight Technologies (US), Fortive (US), Ametek (US), Teledyne (US), Yokogawa (Japan), Siemens (Germany), Schneider Electric (France), HBM (Germany), Tektronix (US), Brüel & Kjær (Denmark), Emerson Electric (US), GE (US), Honeywell (US), Rockwell Automation (US), Omron (Japan), Macrodyne (US), Dewetron (Austria), Campbell Scientific (US), Data Translation (US), Dewesoft (Slovenia), Hioki (Japan), Astronova (US), Sefram Instruments (France), Graphtec (Japan), and IMC (Germany).

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