USD 1.9 billion
Data Acquisition System Market Size, Share, Growth Analysis, By Offering(Hardware, Software), By Vertical(Automotive & Transportation, Aerospace & Defense), By Speed(High-speed (>100 KS/S), Low-speed (<100 KS/S)), By Application(R&D, Field) - Industry Forecast 2024-2031
Report ID:
SQMIG45I2189 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
120 |
Figures:
77
Data Acquisition System Market Insights
Global Data Acquisition System Market size was valued at USD 1.9 billion in 2022 and is poised to grow from USD 2.01 billion in 2023 to USD 3.13 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).
Data is the currency of the digital world, which is what drives the importance of data acquisition systems as they help users acquire and store data. Growing demand for data monitoring in different industry verticals is projected to primarily boost the demand for data acquisition systems over the coming years. Increasing adoption of the Industry 4.0 trend has led to a surge in industrial automation thereby creating opportunities for data acquisition system companies as well. Increasing deployment of novel IoT devices for different applications is also slated to create new opportunities for data acquisition system companies in the long run. On the contrary, complexity of integration and deployment is forecasted to be a key deterrent for data acquisition system sales in the long run.
Market snapshot - (2024-2031)
Global Market Size
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
5.7% CAGR
Global Data Acquisition System Market ($ Bn)
Country Share for North America Region (%)
Global Data Acquisition System Market By Offering ($ Bn)
Global Data Acquisition System Market By Offering (%)
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Data Acquisition System Market Segmental Analysis
The global data acquisition system market is segmented based on offering, speed, vertical, application, and region. In terms of offering, the market is segmented into hardware and software. On the basis of speed, the market is bifurcated into High-speed (>100 KS/S) and Low-speed (<100 KS/S). Based on application, the market is divided into R&D, field, and manufacturing. In terms of vertical, the market is segmented into automotive & transportation, aerospace & defense, power & energy, wireless communication & infrastructure, environmental monitoring, healthcare, food & beverage, and other verticals. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Offering
Hardware components account for a major share of the global data acquisition system marketplace. Hardware is essential for any data acquisition system and this includes sensors, devices, and monitoring devices. The indispensable nature of all types of hardware components is what allows this segment to maintain its dominance.
Increasing sophistication of data acquisition systems is pushing the demand for advanced software solutions and this is what makes it the fastest-growing segment in this market. High investments in development of novel software solutions and growing demand for better data acquisition system operating interface are also promoting market growth via this segment.
Analysis by Application
Manufacturing application segment is projected to dominate the global data acquisition system demand outlook across the forecast period. Increasing adoption of automation in manufacturing sector is pushing the demand for more manufacturing data than ever before, which in turn, is slated to benefit sales of data acquisition system.
Meanwhile, the demand for data acquisition system for field data acquisition is slated to increase at a rapid pace over the coming years. This segment deals with the collection of data in rugged conditions and growing demand for data from remote locations will further boost market development through this segment.
Global Data Acquisition System Market By Offering, 2022 (%)
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Data Acquisition System Market Regional Insights
North America is predicted to dominate the global data acquisition system demand outlook across the forecast period. Rapid adoption of advanced technologies, presence of key technology companies, and growing digitization of economies in this region allow North America to maintain its dominance. The United States and Canada are the foremost countries for data acquisition system companies looking to make a mark in the North American region.
The Asia Pacific region is slated to emerge as the fastest-growing regional market for data acquisition system providers in the world. Increasing digitization and growing adoption of advanced digital technologies has resulted in heaps of new data generation and this is why the demand for data acquisition system is soaring high in this region. China, India, and Japan are expected to be the top markets for data acquisition system companies in this region.
Global Data Acquisition System Market By Region, (2024-2031)
- Largest
- Fastest
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Data Acquisition System Market Dynamics
Drivers
Growing Adoption of Industial Automation
- Industries around the world are opting for automation solutions to improve operational efficiency and maximize profits. This automation trend is projected to promote sales of data acquisition systems going forward.
Rise in Number of IoT Devices
- IoT devices are no longer a novel innovation but are becoming a mainstay in a multitude of applications across several industry verticals. These devices generate heaps of data and data acquisition systems come in handy to manage and store this valuable data.
Restraints
Complex Integration
- Integrating a data acquisition system with other systems and technologies could be a very capital-intensive as well as labor-intensive task. The requirement of skilled technicians to handle integration and deployment could slow down data acquisition system market growth in the long run.
Data Privacy
- Data acquisition systems can store and even transfer data to multiple sources and are often connected to the internet. This makes data acquisition systems prone to cyberattacks and hacks, which raise concerns regarding data privacy of users. These concerns are slated to impede data acquisition system market development going forward.
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Data Acquisition System Market Competitive Landscape
Data acquisition system providers should focus on creating simple yet effective products to boost their sales and revenue generation potential in the future. Data acquisition system companies can also collaborate and partner with automation providers to maximize their business scope and develop application specific solutions. Mergers and acquisitions are slated to remain popular strategies for companies looking to expand their global market presence and share.
Top Player’s Company Profiles
- ADLINK Technology
- AstroNova Inc.
- Dataforth Corporation
- Rockwell Automation Corporation
- Schneider Electric
- Dewetron GmbH
- Emerson Electric Co.
- imc Test & Measurement GmbH
- Keysight Technologies
- Siemens Digital Industries Software
- Spectris PLC
- AMETEK Inc.
- Fortive
- General Electric
- Honeywell International Inc.
- Teledyne Technologies Incorporated
- National Instruments Corp.
- Yokogawa Electric Corporation.
- Campbell Scientific Inc.
- Curtiss-Wright Corporation
Recent Developments
- In April 2024, FMK INC, a start-up based in South Korea, announced the launch of its new TSI-T001 tunnel safety inspection system. The offering was also equipped with autonomous data acquisition capabilities.
- In June 2023, imc Test & Measurement, an instrument supplier based in Germany, announced the launch of its new data acquisition system. imc ARGUSfit is a modular data acquisition system with a simple design for easy installation and integration.
Data Acquisition System Key Market Trends
- Adoption of Machine Learning: data acquisition system providers can leverage advanced technologies such as artificial intelligence and machine learning to improve decision-making abilities of the systems and minimize human errors. Companies can utilize other advanced technologies to automate their data acquisition process and maximize profits.
Data Acquisition System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, rapid digitization and increasing adoption of automation in different industry verticals are projected to primarily augment the demand for data acquisition systems over the coming years. On the contrary, high complexity of installation and integration is slated to impede data acquisition system market development in the future. North America is estimated to account for majority of data acquisition system demand outlook in the world owing to rapid adoption of advanced technologies. Use of machine learning and AI technologies could also create new growth opportunities for data acquisition system market players.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.9 billion |
| Market size value in 2031 | USD 3.13 billion |
| Growth Rate | 5.7% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Data Acquisition System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Data Acquisition System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Data Acquisition System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Data Acquisition System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Acquisition System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Acquisition System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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