The global DAQ system market size is estimated to grow from USD 1.8 billion in 2020 to USD 2.4 billion by 2025, at a CAGR of 5.3%
NEW YORK, May 25, 2020 /PRNewswire/ -- DAQ system market expected to grow at a CAGR of 5.3% from 2020 to 2025
The global DAQ system market size is estimated to grow from USD 1.8 billion in 2020 to USD 2.4 billion by 2025, at a CAGR of 5.3%. The major driving factors of the DAQ system industry are the increasing implementation of Industry 4.0 across aerospace and automotive sectors, technological advancements and flexibility of DAQ systems, and a growing emphasis on data monitoring. Recent advancements in high-speed connectivity applications, such as 4G and 5G, and growing demand for automated DAQ systems have increased the scope for DAQ systems in end-user sectors.
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DAQ system hardware is expected to continue to hold the largest market share during the forecast period
DAQ hardware is an interface between the signal and a PC, which could be in the form of modules that can be connected to the computer's ports or cards connected to slots.DAQ hardware uses the signal conditioning process, wherein analog data is converted into digital data with sensors and other tools.
Hardware can be connected to the computer through a communication interface, such as a PCI or USB, or can be directly installed in the motherboard.The hardware of the DAQ system is classified 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 driving the market for external chassis and module.
Field application is the fastest-growing application during the forecast period in the DAQ system market
Field DAQ includes rugged devices that allow taking accurate measurements as close to the sensors as possible, even under a full range of environmental conditions.It is used to record data such as strain, force, displacement, acceleration, pressure, temperature, speed, and noise.
These data sets help in deciding the test criteria for laboratory conditions.Devices with high-speed DAQ, and which can be distributed over a large area, are used for field applications.
Field testers are getting a boost from IoT.Competitive pressure is forcing engineers to perform product development faster, thus driving the demand for field DAQ.
A team of highly qualified and experienced engineers is engaged in the activity of field DAQ.
Aerospace & defense vertical to hold the largest market share of the DAQ system market in 2020
In the global aerospace & defense manufacturing, there is a need to track real-time data during product development and component testing, which can be achieved using DAQ systems.Aerospace & defense is the biggest end-user market for DAQ systems.
DAQ systems are also used for carrying out flight experiments to acquire real-time data from ground experiments consisting of vision data (from CCD camera or/and infrared sensor) and navigation data from the auto-pilot board (APM) and playback-acquired data in a real-time on-flight simulator to carry out R&D.The aerospace & defense communication networks across regions are undergoing modernization, and this has further created a demand for DAQ systems.
Countries such as the US, UK, and France have strong R&D spending in the aerospace sector. For instance, in 2019, the UK government pledged an investment of USD 159.6 million to support new technology developments in the aerospace sector. This is expected to drive the demand for DAQ systems during the forecast period.
APAC is the fastest-growing DAQ system market
Increased use of DAQ in power, electrical utilities, process automation, and communication applications in the fastest-growing economies of APAC is fueling the growth of the market in the region.In addition, the region harbors many automobile manufacturing companies, such as Toyota, Nissan, Honda, and Suzuki, who are involved in the R&D of new mobility concepts and alternative powertrain development technologies.
This is expected to create a huge demand for DAQ systems in the region.The rapid development of the wireless communication and infrastructure sector is also boosting the demand for DAQ systems in the region.
The rising need for high-quality products and the need to increase production rates has significantly boosted the adoption of automated technologies. Particularly, the demand for process automation & instrumentation has increased remarkably in APAC owing to surging investments in power transmission and distribution.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the DAQ system market. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
• By Designation: Directors – 50%, Managers-20%, Vice Presidents- 25%, and Others – 5%
• By Region: North America – 40%, Europe – 35%, APAC – 15%, and RoW – 10%
Major players in the DAQ system market are National Instruments (US), Keysight Technologies (US), Fortive (US), Ametek (US), Teledyne (US), Yokogawa (Japan), Siemens (Germany), Schneider Electric (France), HBM (Germany), Tektronix (US), Brüel & Kjær (Denmark), Emerson Electric (US), GE (US), Honeywell (US), Rockwell Automation (US), Omron (Japan), Macrodyne (US), Dewetron (Austria), Campbell Scientific (US), Data Translation (US), Dewesoft (Slovenia), Hioki (Japan), Astronova (US), Sefram Instruments (France), Graphtec (Japan), and IMC (Germany).
Research coverage
This research report categorizes the global DAQ system market based on offering, speed, application, vertical, and region. The report describes major drivers, restraints, challenges, and opportunities pertaining to the DAQ system market and forecasts the market until 2025.
Key benefits of buying the report
The report would help leaders/new entrants in the DAQ system market in the following ways:
1. This report segments the DAQ system market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the market. The competitive landscape section includes market players' product launches and developments and acquisitions.
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