The global data acquisition system market size reached USD 2.04 billion in 2023 and is predicted to surpass around USD 3.35 billion by 2033, expanding at a CAGR of 5.08% from 2024 to 2033.
Key Points
- The North America data acquisition system market size reached USD 690 million in 2023 and is expected to attain around USD 1,160 million by 2033, poised to grow at a CAGR of 5.33% between 2024 and 2033.
- North America registered the largest revenue share of the data acquisition system market in 2023.
- Asia Pacific is anticipated to showcase significant growth with the fastest CAGR in the market in the upcoming period.
- By component, the hardware segment dominated the market in 2023 and is expected to grow significantly during the forecast period.
- By component, the software segment is expected to expand notably in the market over the forecast period.
- By speed, the high-speed segment dominated the market in 2023 and is expected to grow at a rapid pace during the forecast period.
- By industry vertical, the aerospace & defense segment held the largest segment of the market in 2023.
- By industry vertical, the power & energy segment will grow at the fastest rate in the market over the forecast period.
The Data Acquisition System (DAS) market encompasses hardware and software solutions designed to gather and analyze data from various sources, enabling real-time monitoring and control across industries. These systems typically include sensors, signal conditioning, analog-to-digital converters (ADCs), and data processing units to capture and interpret information accurately.
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Growth Factors
The market for Data Acquisition Systems is experiencing robust growth driven by increasing automation in industries such as manufacturing, automotive, aerospace, and healthcare. Advancements in sensor technology, IoT integration, and demand for efficient data handling and analysis are key growth factors. Additionally, the shift towards Industry 4.0 and the need for predictive maintenance solutions are accelerating market expansion.
Region Insights:
North America and Europe dominate the Data Acquisition System market due to early adoption of advanced technologies and substantial investments in industrial automation. Asia-Pacific is emerging as a significant market owing to rapid industrialization, government initiatives supporting digital transformation, and increasing investments in smart infrastructure projects.
Data Acquisition System Market Scope
| Report Coverage | Details |
| Market Size by 2033 | USD 3.35 Billion |
| Market Size in 2023 | USD 2.04 Billion |
| Market Size in 2024 | USD 2.14 Billion |
| Market Growth Rate from 2024 to 2033 | CAGR of 5.08% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Component, Speed, Industry Vertical, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Data Acquisition System Market Dynamics
Drivers:
Key drivers include the growing demand for real-time data analytics, stringent regulatory requirements in industries such as healthcare and aerospace, and the need for improved operational efficiency and quality control. The proliferation of IoT devices and the advent of big data analytics are also driving the adoption of Data Acquisition Systems.
Opportunities:
Opportunities lie in the development of customized and integrated solutions catering to specific industry needs, expansion into emerging markets, and advancements in wireless data acquisition technologies. The increasing application of DAS in renewable energy projects and the automotive sector presents promising growth opportunities.
Challenges:
Challenges include interoperability issues with legacy systems, data security concerns, and high initial setup costs associated with advanced DAS solutions. Additionally, complexities in data integration from heterogeneous sources and the need for skilled workforce capable of managing and interpreting large datasets pose challenges to market growth.
Read Also: AI in IoT Market Size to Hit Around USD 153.08 Bn by 2033
Data Acquisition System Market Companies
- Keysight Technologies
- Agilent Technologies
- Yokogawa Electric Corporation
- Advantech Co., Ltd.
- Phoenix Contact GmbH & Co. KG
- Emerson Electric Co.
- Teledyne Technologies Incorp
- Honeywell International Inc.
- orated
- Spectris PLC
- Campbel Scientific
- General Electric
- Brilel & Kjaer
- Fluke Corporation
- Siemens Digital Industries Software
- National Instruments Corporation
- AstroNova, Inc.
Recent Developments
- In January 2023, Axiometrix Solutions’ imc Test & Measurement brand introduced its new modular data collection system, IMC ARGUSfit. The imc ARGUSfit base unit and extra amplifier and fieldbus interface modules, such as the FD, can be quickly snapped together to enable maximum flexibility in automotive and machine testing and monitoring.
- In June 2022, Advantech announced the launch of the iDAQ line of data collection modules. The iDAQ series is a new modular data acquisition module and chassis series that includes the iDAQ-900 chassis as well as the iDAQ-700 and 800 DAQ modules.
Segments Covered in the Report
By Component
- Hardware
- Software
By Speed
- High-speed
- Low-speed
By Industry Vertical
- Automotive & Transportation
- Healthcare
- Food & Beverage
- Aerospace & Defense
- Power & Energy
- Manufacturing
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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