Data Acquisition Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Introduction:
Data acquisition is the process of sampling signals which measure physical conditions in the real world and convert the resulting samples into digital numerical values that a computer can manipulate. Data acquisition systems play a key role in industrial sector real-time decision making. As companies evolve towards a data-centered approach in production and operations to maintain a competitive edge while facilitating users access to the data at any time, regardless of the location, data acquisition systems have evolved from mere processing systems to the key to reaching the required benefits of automation.
Global Data Acquisition Market Size & Growth:
The global data acquisition market was valued at $XX Billion in 2018 and is estimated to reach $XX Billion by 2026, growing at a CAGR of around X.XX% during the forecast period. One of the major driver of the data acquisition market is the promising growth of the Ethernet. Industrial Ethernet has been growing faster than traditional field buses during the last few years and has now overtaken field buses. This demand has been augmented by the increasing need for faster internet speeds, seamless integration of factory installations, the adoption of IoT and industrial controls. Such trends have been instrumental in boosting the demand for data acquisition systems. Moreover, the adoption of factory automation and smart manufacturing across the world is a foremost growth driver of the data acquisition market. However, higher implementation cost is a major factor that challenges the growth of the market.
Global Data Acquisition Market Segments:
The global data acquisition market can be segmented on the basis of component, industry vertical and region wise. DAQ
Data Acquisition Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
hardware is the largest contributor to the DAQ system market, by component. The hardware of the DAQ system is categorized into external chassis and module and plug-in I/O boards. The external chassis and module provide increased productivity and performance in DAQ and control applications in industries. The continued migration to USB- and Ethernet-based front-end systems that offer PC computing power and functionality is resulting in faster adoption rates, ultimately flourishing the market for external chassis and module.
Based on channel, DAQ market is segmented into less than 32, 32 – 128, greater than 128.
Industry vertical wise market is further segmented into power & energy, automotive, education and research and others. Automotive is the fastest-growing end user in the DAQ system market and will continue to be so during the forecast period.
Based on region, North America data acquisition market holds the largest market share and is expected to dominate the market in the near future owing to large number of early technology adopters in this region. Europe contributes a significant market share in data acquisition market owing to rise in adoption of IoT by enterprises in these regions. Asia-Pacific region is expected to show the highest growth rate over the coming years due to expanding manufacturing sector and rise in investments in automation of control and monitoring equipment in this region. Latin America an MEA region are expected to show a moderate growth rate in data acquisition market.
Global Data Acquisition Market Trends:
- In May 2019, National Instruments Corporation launched its new wireless monitoring hardware for InsightCM, an application software for condition monitoring. The new wireless devices automate
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Data Acquisition Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
the manual process of route-based data collection, so reliability engineers can employ more time analyzing data and solving problems and less time climbing stairs with instrumentation and personal protection equipment to collect data.
In April 2019, Yokogawa released FAST/TOOLS R10.04, the modern version of its renowned real-time operations management and visualization software. It is a highly flexible and scalable supervisory control and DAQ solution suitable for applications ranging from smart IoT-enabled applications to enterprise-wide integrated operations.
Global Data Acquisition Market Research Report Include:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have complete market analysis through industry value chain analysis, porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
- Regional and global diversity is analyzed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
- Identifying DROC in the current market and their impact in altering the market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial analysis with major competitors.
- Expertise investment opportunities by analyst to the individual and organization to have better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the major market players, such as
- Advantech Co. Ltd
- National Instruments Corporation
- Yokogawa Electric Co.
- Schneider Electric SE
- ABB Ltd
- Rockwell Automation Inc.
Along with these companies, there were many other companies considered/ cited in the report while analyzing the data acquisition market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.
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