Data Acquisition System (DAQ) Market Analysis | 2023-2028

Market Insights

The Data Acquisition System (DAQ) Market was estimated at US$ 1.71 billion in 2022 and is expected to grow at a CAGR of 5.6% during 2023-2028 to reach US$ 2.38 billion in 2028.

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What is a Data Acquisition System (DAQ)?

A Data Acquisition System (DAQ) is a set of components designed to collect, measure, and record data from physical phenomena or processes. Typically used in scientific, industrial, and engineering applications, DAQ includes sensors to convert real-world signals (such as temperature, pressure, or voltage) into electrical signals. These signals are then processed by signal conditioning circuits and transmitted to a central unit or computer for conversion, analysis, and storage. The system facilitates real-time monitoring and control, enabling users to gather insights, make informed decisions, and improve processes based on the acquired data.

Market Drivers

Data Acquisition Systems find applications in research, quality control, and industrial automation. The demand for data acquisition systems is driven mainly by the increasing demand for high-speed connectivity among various end-use industries.

Segments Analysis

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By Component Type

The data acquisition system market is segmented into hardware and software. The hardware segment held the larger share of the market and is expected to remain dominant during the forecast period. The higher share is attributed to the growing emphasis on data monitoring and the increasing demand for accuracy and precision in measurement applications for various end-use industries.

By Application Type

The market is segmented into research and analysis, manufacturing and quality, asset condition monitoring, and design validation and repair. The research and analysis segment is projected to expand with the highest CAGR over the forecast period owing to the rising requirement for real-time analysis of data from industries, such as automotive, wireless communication, aerospace, and defense.

By End-User Type

The data acquisition system market is segmented as aerospace, defense & government services, automotive, energy, wireless communication and infrastructure, and others. The automotive segment is projected to grow at the fastest rate during the forecast period owing to the growing applications in the industry such as virtual load test and on-road data acquisition.

Regional Analysis

In terms of regions, North America is expected to be the largest market for data acquisition systems during the forecast period. The North American market is expected to expand with a lucrative CAGR due to the high adoption of advanced technology, the presence of dominant market players, and huge demand from the US.

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Key Players

Some of the major players in the data acquisition system market are-

• Ametek
• Brüel & Kjær
• Emerson Electric
• Fluke Corporation
• GE
• HBM
• Honeywell
• Keysight Technologies
• Macrodyne
• National Instruments
• Omron Corporation
• Rockwell Automation
• Siemens
• Schneider Electric
• Tektronix
• Teledyne Technologies Yokogawa

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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