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Data Acquisition System Market Trends

Report ID: GMI9302
Published Date: Apr 2024
Report Format: PDF

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Data Acquisition System Market Trends

As edge computing becomes more prevalent, DAQ systems are being increasingly integrated with edge devices. This allows for real-time data acquisition, processing, and analysis closer to the source of data generation, reducing latency and bandwidth requirements. Edge-enabled DAQ systems enable faster decision-making and improved responsiveness in applications such as industrial automation, smart infrastructure, and IoT deployments.

There is an increasing adoption of wireless and IoT-enabled DAQ systems, influenced by the need for flexibility, mobility, and scalability in data acquisition applications. Wireless DAQ solutions eliminate the need for cumbersome cabling, enabling easier deployment and installation in remote or hard-to-reach locations. Additionally, IoT-enabled DAQ systems leverage connectivity and sensor technologies to enable seamless integration with existing IoT ecosystems, enabling organizations to leverage data from diverse sources for enhanced insights and decision-making.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Data acquisition (DAQ) system industry size was worth USD 2 billion in 2023 and is projected to expand at over 5% CAGR from 2024 to 2032, owing to the increasing adoption of IoT devices and sensors across numerous industries.

The software segment in the data acquisition (DAQ) system market is estimated to depict over 6% CAGR between 2024 and 2032, due to their ability to configure measurement parameters, setup data logging schedules, and manage data storage.

North America data acquisition (DAQ) system industry accumulated more than 33% revenue share in 2023 and is predicted to grow at notable CAGR between 2024 and 2032, on account of the continuous technological advancements driven by significant R&D investments.

Yokogawa Electric Company, ABB Group, AMETEK Inc., Emerson Electric Co., Fortive Corporation, General Electric (GE) Company, and Honeywell International Inc.