According to Stratistics MRC, the Global Data Acquisition System is accounted for $1.61 billion in 2017 and is expected to reach $2.69 billion by 2026 growing at a CAGR of 5.9% during the forecast period. Increased emphasis on energy efficiency, resource optimization, and cost of production, rise of big data, IoT, and industrial revolution 4.0 and technological advancement in data acquisition system are the key driving factors for the market growth. However, mature market in North America and Europe are some of the factors hindering the market growth.
Data acquisition is the process of sampling signals that measure real-world physical conditions and converting the resulting samples into digital numeric values that can be manipulated by a computer. Data acquisition systems, abbreviated by the acronyms DAS or DAQ, typically convert analog waveforms into digital values for processing. The components of data acquisition systems include Sensors, to convert physical parameters to electrical signals, Signal conditioning circuitry, to convert sensor signals into a form that can be converted to digital values and Analog-to-digital converters, to convert conditioned sensor signals to digital values.
By End User, Automotive & Transportation is expected to grow at the highest CAGR during the forecast period. The growth of semiconductor IP in the automotive sector is due to the test process involved in the automotive industry which consists of a set of test solutions that are very articulated within the production line. During testing data, acquisition software is used to intelligently standardize, analyze, and report a large amount of data. Autonomous driving, connectivity, and electric mobility are all aspects that are expected to drive the demand for DAQ systems in the automotive industry during the forecast period. By geography, Asia Pacific is expected to continue lead the DAQ system market and also expected to be the fastest growing region. This is mainly attributed due to the increase in the number of manufacturing plants in various sectors such as automotive, textiles, power, and pharmaceuticals. China, Japan, South Korea, and India offer some of the prolific automotive equipment manufacturers in APAC. Therefore, there is a continuous demand for the DAQ system market in APAC.
Some of the key players profiled in the Data Acquisition System include ABB Ltd, Agilent Technologies Inc, Ametek, Bruel & Kjaer Sound & Vibration, Campbell Scientific, Data Translation Inc, Emerson Electric Co, Genral Electric Co, HBM, Honeywell International, Keysight Technologies, Mathworks, National Instruments, Omron Corporation, Rockwell Automation, Siemens AG, Teledyne Technologies Inc and Yokogawa Electric Co.
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