Data Acquisition System Market - By Component (Hardware, Software), By Speed (High Speed (>100 KS/S), Low Speed (<100 KS/S)), By Application (Research & Development, Field, Manufacturing), by Vertical & Forecast, 2024 – 2032

Data Acquisition System Market Size

Data Acquisition System Market was valued at around USD 2 billion in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032.
 

A significant driver for the data acquisition (DAQ) system market is the increasing adoption of Internet of Things (IoT) devices and sensors across industries. As IoT deployments continue to grow, there is a rising need for DAQ systems to collect, process, and analyze data from diverse sources in real time. DAQ systems enable organizations to monitor and manage IoT-generated data efficiently, leading to improved decision-making, operational efficiency, and innovation across various sectors such as manufacturing, healthcare, transportation, and energy. Advancements in sensor technology, connectivity, and data analytics are further fueling the demand for DAQ systems, as organizations seek to leverage data-driven insights to gain a competitive edge and address evolving business challenges.
 

Cutting-edge electronic technologies lead to inexpensive sensing and monitoring capabilities. For instance, Arduino, an open-source hardware project has been used, along with low-cost sensors, to develop several inexpensive, automated sensing and data logging systems for research purposes. This is suggestive of potential yet increased open-source DAQ software investment for developing an advanced system in the future. In April 2021, Piano, the global customer experience platform, formed a partnership with ID5, InfoSum, LiveRamp, and Usercentrics to extend its First party DAQ solution, that integrates its data management, identity, and customer journey orchestration capabilities and provides one system and one view that collects, unifies, and activates user data across the entire digital ecosystem, preventing data leakage and poor ad performance while improving customer experience.
 

Compatibility issues with legacy systems arise when integrating modern DAQ systems with existing infrastructure that may use outdated hardware, software, or communication protocols. This mismatch can lead to interoperability challenges, data loss, and reduced system performance. Legacy systems may lack support for newer DAQ technologies or standards, making it difficult to seamlessly integrate them into the existing environment. Additionally, legacy systems may have limited scalability and flexibility, hindering their ability to adapt to evolving business requirements and technological advancements. Addressing compatibility issues requires careful planning, testing, and the potential implementation of intermediary solutions or middleware to facilitate communication between legacy and modern systems. Organizations may also need to invest in upgrading or replacing outdated components to ensure smooth integration and maximize the benefits of modern DAQ systems.

Data Acquisition System Market Trends

As edge computing becomes more prevalent, DAQ systems are being increasingly integrated with edge devices. This allows for real-time data acquisition, processing, and analysis closer to the source of data generation, reducing latency and bandwidth requirements. Edge-enabled DAQ systems enable faster decision-making and improved responsiveness in applications such as industrial automation, smart infrastructure, and IoT deployments.
 

There is an increasing adoption of wireless and IoT-enabled DAQ systems, influenced by the need for flexibility, mobility, and scalability in data acquisition applications. Wireless DAQ solutions eliminate the need for cumbersome cabling, enabling easier deployment and installation in remote or hard-to-reach locations. Additionally, IoT-enabled DAQ systems leverage connectivity and sensor technologies to enable seamless integration with existing IoT ecosystems, enabling organizations to leverage data from diverse sources for enhanced insights and decision-making.
 

Data Acquisition System Market Analysis

Based on component, the market is divided into hardware and software. The software segment is expected to register a CAGR of over 6% during the forecast period.
 

• This segment includes software applications designed to interface with DAQ hardware, acquire data from sensors & measurement devices, and log the acquired data for further analysis. These software solutions often provide features for configuring measurement parameters, setting up data logging schedules, and managing data storage. Signal processing and analysis software are used to preprocess, filter, and analyze the acquired data to extract meaningful insights and identify patterns or anomalies. These software tools may include algorithms for noise reduction, signal enhancement, frequency analysis, and statistical analysis.
   
• Visualization and reporting software enable users to see the acquired data in graphical formats, such as charts, graphs, and plots, facilitating easier interpretation and understanding. These software solutions often feature customizable report, dashboard, and data summary generation for presentation and sharing. Integration and connectivity software facilitate seamless integration of DAQ systems with other software applications, databases, and enterprise systems. These software solutions may include drivers, Application Programming Interfaces (APIs), and middleware for interoperability, data exchange, and communication between DAQ systems and external systems or platforms.
   

Based on application the market is divided into research & development, field, manufacturing. The research & development (R&D) segment dominated the global market with a share of over 44% in 2023.
 

• Research & Development efforts focus on designing and developing advanced hardware components for DAQ systems including data acquisition cards, modules, sensors, and interfaces. This involves researching new materials, components, and manufacturing processes to enhance the accuracy, reliability, and efficiency of data acquisition hardware.
   
• Research & Development teams work on developing innovative software solutions for data acquisition, signal processing, analysis, and visualization. This includes designing intuitive user interfaces, optimizing algorithms for real-time data processing, and integrating advanced features for data logging, storage, and retrieval.
   

North America dominated the global data acquisition system market in 2023, accounting for a share of over 33%. The regional market is thriving across various industries including automotive, aerospace, healthcare, manufacturing, and research institutions. This growth is propelled by continuous technological advancements driven by significant R&D investments. These investments fuel innovations in DAQ hardware, software, and sensor technologies, resulting in the development of more accurate, reliable, and efficient DAQ systems. Additionally, the adoption of Industry 4.0 principles, such as automation, connectivity, and data-driven decision-making, further boosts the demand for DAQ systems in North America. These systems play a crucial role in collecting, processing, and analyzing data from diverse sources, enabling organizations to improve operational efficiency, enhance product quality, and drive innovation. With its strong emphasis on innovation and technology, North America remains a key region driving the growth of the market.
 

Data Acquisition System Market Share

Major players operating in the industry are:

• Yokogawa Electric Company
• ABB Group
• AMETEK Inc.
• Emerson Electric Co.
• Fortive Corporation
• General Electric (GE) Company
• Honeywell International Inc.
   

Yokogawa Electric Corporation offers a comprehensive range of DAQ systems tailored for various industries such as process automation, test & measurement, and research. Its solutions offer high precision, reliability, and scalability, making them suitable for critical applications in sectors including energy, chemicals, and manufacturing. Teledyne Technologies Incorporated specializes in advanced instrumentation and digital imaging products including DAQ systems. Its offerings feature cutting-edge technology, high-performance capabilities, and seamless integration with other instrumentation and software platforms. Teledyne's DAQ solutions cater to diverse applications in the aerospace, defense, automotive, and marine industries.
 

Some major players in the market are National Instruments Corporation, Keysight Technologies, Yokogawa Electric Corporation, Teledyne Technologies Incorporated, Advantech Co., Ltd., HBM Test and Measurement, and Data Translation, Inc. They apply strategies such as product innovations, mergers, and acquisitions. Also, companies are involved in several growth & expansion strategies to gain a competitive advantage in the market.
 

Data Acquisition System Industry News

• In June 2022, Advantech launched the iDAQ series, a range of data acquisition modules. It features modular DAQ modules and chassis including the iDAQ-900 series chassis and iDAQ-700 and 800 series DAQ modules.
   

The Data Acquisition (DAQ) system market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2021 to 2032, for the following segments:

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Market, By Component

• Hardware
• Software

Market, By Speed

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

Market, By Application

• Research & development.
• Field
• Manufacturing

Market, By Vertical

• Aerospace & defense
• Energy & power
• Communication & infrastructure
• Environment monitoring
• Healthcare
• Food & Beverages
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA