The global data acquisition system market size was USD 2.04 billion in 2023, calculated at USD 2.14 billion in 2024 and is expected to reach around USD 3.35 billion by 2033, expanding at a CAGR of 5.08% from 2024 to 2033.
To Access our Exclusive Data Intelligence Tool with 15000+ Database, Visit: Precedence Statistics
The U.S. data acquisition system market size was exhibited at USD 490 million in 2023 and is projected to be worth around USD 810 million by 2033, poised to grow at a CAGR of 5.15% from 2024 to 2033.
North America registered the largest revenue share of the data acquisition system market in 2023. The growth of the region is driven by the increasing adoption of modern data-collecting technologies, increasing investments in the automotive sector, increasing popularity of IoT and machine-to-machine technologies, rising deployment in industrial automation, and supportive governmental policies. North America plays a vital role in driving developments in the data acquisition system market; several industries, such as aerospace, automotive, telecommunications, manufacturing, and healthcare, are leveraging the potential of data acquisition solutions to improve efficiency, streamline operations, boost productivity, and enhance performance.
The region has a strong technological ecosystem, which increases the demand for the data acquisition system market the forecast period. Furthermore, growing awareness of environmental issues drives the demand for sophisticated DAQ systems in the region. DAQ systems play a vital role in monitoring pollution levels, air and water quality, weather patterns, and others. To implement corrective measures and address environmental challenges, accurate data collection is important.
Asia Pacific is anticipated to showcase significant growth with the fastest CAGR in the data acquisition system market in the upcoming period owing to the robust industrial sector development, favorable government framework, and increasing usage of emerging technologies, including artificial intelligence (AI) and the Internet of Things (IoT). In addition, the ongoing research and development activities in several industries, such as electronics, healthcare, aerospace, automotive, and others, are expected to boost the demand for sophisticated DAQ systems.
The process involved in gathering signals that quantify physical conditions as they exist in the real scenario and then transforming them into digital numeric values for the computer to analyze effectively is broadly known as data acquisition. Data acquisition (DAQ) is considered a crucial tool for measuring real-world physical situations and converting them into a digital format for computer processing. A data acquisition system is widely used to collect and process data from various sources. DAQ measures an electrical or physical phenomenon such as pressure, voltage, strain, frequency, vibration, angles, current, temperature, sound, and others.
A DAQ system consists of sensors, DAQ measurement hardware, and a computer with programmable software such as LabVIEW, Assembly, BASIC, Fortran, Lisp, Pascal, Java, C, C++, C#, and others. Earlier, traditional methods such as tape recorders or paper charts were used where signals were recorded in analog form, but now, in the era of digitalization, DAQ converts signals into digital form for storage on hard disk drives, ROM, flash media, and others. It’s an innovative and new way of capturing and processing real-world data using computers.
| 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 |
Increasing adoption of emerging technologies
The increasing adoption of emerging technologies is expected to boost the expansion of the data acquisition system market during the forecast period. The rapid advancements in sensor technologies and Internet of Things (IoT) integration, as well as data acquisition systems, facilitate efficient data collection and processing capabilities, booting the innovation of cutting-edge technologies. The rising need for monitoring real-time data, improving visibility, and controlling production activities increases the demand for data acquisition systems.
The data acquisition system market has witnessed the rising adoption of the Internet of Things (IoT), artificial intelligence (AI), and machine-to-machine communication (M2M) technologies across various industries, which has driven the growth of DAQ systems. Data acquisition systems analyze data accurately and identify possible patterns and trends that might become difficult or impossible for humans. These systems also help enterprises to reduce errors, lessen repetitive tasks, and lower processing costs.
Data acquisition systems find applications across various industries such as automotive, aerospace & defense, manufacturing, energy, healthcare, environmental monitoring, and others. Every industry has a unique requirement for data collection, analysis, and reporting, and data acquisition systems play an indispensable role in meeting these diverse needs. Therefore, considering these factors, the use of data acquisition systems contributes to the growth of the data acquisition system market.
High cost
The high cost associated with the implementation of the data acquisition system is anticipated to hamper the market's growth. The data acquisition solutions require a high investment. Several small and medium-sized companies are often discouraged from adopting these emerging technologies due to budget constraints. In addition, the lack of IT infrastructure and lack of awareness of sophisticated data acquisition systems in lower and middle-income countries is likely to limit the expansion of the global data acquisition system market.
Rapid growth of the automotive sector
The robust growth of the automotive sector is projected to offer lucrative opportunities to the data acquisition system market during the forecast period. Data acquisition systems are rapidly gaining popularity in the automotive sector owing to the fast-growing industry segments such as advanced driver assistance systems (ADAS), connected cars, E-mobility, and autonomous driving.
DAQ is versatile, and automotive engineers use DAQ systems for several purposes, including controlling test processes, characterizing products, and monitoring processes or products. In recent years, technology has reshaped the automotive industry rapidly. As companies are focusing on innovating and streamlining their offerings, the data acquisition system market is likely to experience substantial growth during the forecast period.
The hardware segment dominated the data acquisition system market in 2023 and is expected to grow significantly during the forecast period. Hardware components are considered the foundation for data collection and have diverse requirements for several applications in industries. The capture and conversion of real-world data are possible with reliable and accurate hardware. Hardware includes physical components and devices crucial for collecting, converting, and transmitting data from the real world into digital formats. Hardware components such as sensors, analog-to-digital converters (ADCs), actuators, signal conditioning devices, and other communication devices.
The software segment is expected to expand notably in the data acquisition system market over the forecast period. Data acquisition software is essential for capturing, storing, and organizing data. The software can be custom-coded in different programming languages to align with the specific needs. It allows the users to effectively configure, monitor, and analyze the data collected by the system. Thereby driving the segment’s growth.
The high-speed segment dominated the data acquisition system market in 2023 and is expected to grow at a rapid pace during the forecast period. The growth of the segment is majorly driven by the rising applications of high-speed data acquisition systems across various industries, including automotive, telecommunications, aerospace, healthcare, and defense. High-speed plays a crucial role when there is a requirement to collect and process data rapidly as well as accurately. It enables companies to obtain real-time and valuable information quickly, which ultimately assists them in making informed decisions.
The continuous innovations in software and hardware technologies are likely to enhance the speed and accuracy of data acquisition systems. In the case of more complex data, it increases the need for high-speed systems to handle diverse data types efficiently. Moreover, the rising adoption of industrial automation and IoT-based technologies is expected to propel the demand for high-speed data acquisition systems to collect and analyze sensor data in real-time. Such factors drive the growth of the segment.
The aerospace & defense segment held the largest segment of the data acquisition system market in 2023 owing to the increasing need for rigorous testing of aircraft, which allows real-time monitoring to survive various parameters and severe weather conditions. The aerospace and defense industry deals with various systems like aircraft and defense equipment, where accurate and real-time data acquisition is important. To meet the stringent regulatory and safety standards increases the adoption of sophisticated data acquisition solutions to ensure reliable and accurate data collection. DAQ systems ensure that aerospace components meet demanding functional criteria and also ensure the safety, reliability, and effective performance of aerospace technologies.
The power & energy segment will grow at the fastest rate in the data acquisition system market over the forecast period. DAQ systems play a vital role in the energy sector for effectively monitoring asset performance, including wind turbines, solar PV, and power-producing machinery, which ensures that power generation equipment operates optimally. Thereby bolstering the growth of the segment during the forecast period.
Segments Covered in the Report
By Component
By Speed
By Industry Vertical
By Geography
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
