Data Acquisition System Market Worth $2.2 Billion by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, May 30, 2019 /PRNewswire/ -- According to the new market research report "Data Acquisition System Market by Offering (Hardware, Software), Lifecycle Application (R&D, Field, Manufacturing), Vertical (Automotive & Transporation, Aerospace & Defense, Energy & Power, Environmental Monitoring, Food & Beverages), Region - Global Forecast to 2024", published by MarketsandMarkets™, the Data Acquisition System Market is expected to grow from USD 1.8 billion in 2019 to USD 2.2 billion by 2024, at a CAGR of 5.0%. Major factors driving the DAQ system market include the rising adoption of Industry 4.0, Industrial Internet of Things (IIOT) and Smart Factory, using the data acquisition system.

Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=160241507

The hardware segment is expected to hold the largest share in the global DAQ system market during the forecast period

The DAQ system market has been segmented on the basis of offering into 2 categories: Hardware and Software. Among hardware, external chassis and module holds the largest size of the DAQ system market. Moreover, the growth of DAQ system hardware is attributed to its wide use due to the modular design and various combinations can be arranged to satisfy a wide range of customized experimental setups with the help of data acquisition hardware. 

The Field DAQ is expected to grow at the highest CAGR in the global DAQ system market during the forecast period

Among all lifecycle applications, the market for field DAQ is expected to grow at the highest CAGR during the forecast period. This growth is due to increasing use of DAQ system on field in testing various automotive components thereby reducing the development time of the product. Competitive pressure is forcing engineers to perform product development faster, thus driving demand for field data acquisition. Field data acquisition includes rugged devices that allows to take accurate measurements as close to sensors as possible, even under a full range of environmental conditions. Data acquisition on field is used to record data such as strain, force, displacement, acceleration, pressure, temperature, speed and noise. These data are further filtered and analyzed to verify design parameters verses the actual performance of the product. Furthermore, the same data help decide test criteria for laboratory conditions. Data acquisition devices in field application help reduce the developmental time of the product.

Asia Pacific is expected to hold the largest share of the DAQ system market during the forecast period

The market in APAC is expected to witness the highest CAGR during the forecast period. The market in China is expected to grow mainly because the number of automotive manufacturing units in China is increasing, which is expected to create a huge demand for DAQ system. The demand for process automation & instrumentation is very high in APAC owing to the increasing investment in power transmission and distribution. China, India, and Japan are considered as largest electricity generators in the APAC.

Browse in-depth TOC on "Data Acquisition System Market"

74 – Tables 
48 – Figures
155 – Pages

Request Sample Pages of the Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=160241507

Key players in the DAQ system ecosystem include National Instruments (Texas), Keysight Technologies (US), Siemens (Germany), HBM (Germany), Yokogawa Electric (Japan), ABB Ltd (Switzerland), Honeywell International (US), Rockwell Automation (US), AMETEK Inc (US), Emerson Electric (US),etc.

Please Explore Relevant Reports:

SCADA Market by Component (Programmable Logic Controller, Remote Terminal Unit, Human-Machine Interface, Communication Systems), Architecture (Hardware, Software, Services), Industry, and Geography - Global Forecast to 2024 

Industrial Control and Factory Automation Market by Solution (SCADA, PLC, DCS, MES, PLM, PAM, Functional Safety), Component (Industrial Robots, Industrial 3D Printing, Control Valves, Machine Vision, HMI), Industry and Geography - Global Forecast to 2024

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/data-acquisition-system-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com

SOURCE MarketsandMarkets