Data Acquisition (DAQ) System Market size was valued at USD 2.01 billion in 2024 and is set to exceed USD 3.98 billion by 2037, registering over 5.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of crypto ATM is evaluated at USD 2.1 billion. The demand for industrial Ethernet, which addresses the particular issues faced by factory environments, such as noise, specialized process requirements, and severe circumstances, is on the rise, thus resulting in the growth of the global market. According to estimates, the data transmission rate ranges from 10 Mbps to 1 Gbps with the industrial Ethernet.
The data acquisition (DAQ) system market is expanding as a result of the increasing adoption of Internet of Things (IoT)-based systems in a variety of industries. These systems enable businesses to monitor inventory in real time and receive prompt warnings in case of any deviations, enabling proactive and effective management. China, Western Europe, and North America account for 67% of IoT usage. 94 % of retailers who use IoT say the benefits exceed the risks. There will be a concentration of 40% of the value that IoT creates in developing economies.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
5.4% |
Base Year Market Size (2024) |
USD 2.01 billion |
Forecast Year Market Size (2037) |
USD 3.98 billion |
Regional Scope |
|
Component (Hardware, Software)
The hardware segment is predicted to hold about 68% share of the global data acquisition (DAQ) system market.The movement towards USB and ethernet-based front-end systems, which provide PC processing power and functionality, is speeding up adoption rates. Hardware can be integrated into the motherboard or attached to the computer via a communication interface, such as a USB. The demand for this category is increasing as a result of these factors. The number of USB flash drives sold over the last few years has been fluctuating, with about 10.9 million units being sold in 2021. Compared with the previous year, this was a decrease.
Application (R&D, Field and Manufacturing, Asset Condition Monitoring, Design Validation & Repair)
data acquisition (DAQ) system market from the research & development application category is set to hold the greatest revenue share of about 38% during the forecast period. Committed test and measurement tools are necessary in R&D to ensure that the project performs in accordance with calculations and aids in problem-solving. Data acquisition systems are used in research and development to gather the component parameters and properties of prototypes and preproduction models. The US is expected to become the largest country in terms of R&D expenditures worldwide, with over 679 billion dollars spent on research and development by 2022. Research and development are estimated to be invested by China in around 554 billion U.S. dollars.
Our in-depth analysis of the global data acquisition (DAQ) system market includes the following segments:
Component |
|
Speed |
|
Application |
|
End User |
|
North American Market Forecast
North America industry is estimated to hold largest revenue share of 37% by 2037, due to its strong industrial sector development and technological infrastructure in the healthcare sector. For monitoring, analyzing, and optimizing their operations, this sector has a significant demand for data acquisition solutions. North America has become a leading participant in the market because of the adoption of modern data acquisition systems, which is fueled by the region's strong technological ecosystem and emphasis on innovation.
APAC Market Statistics
The data acquisition (DAQ) system market in Asia Pacific is anticipated to account for 23% revenue share during the forecast period. This growth can be propelled by the rising adoption of new technologies like AI and IoT as well as the strict regulatory standards pertaining to product testing and measurement. Moreover, the strong government backing for manufacturing is another factor boosting the DAQ market expansion in the Asia Pacific region. As a result of the expanding e-commerce and retail sectors, Japan held a share of more than 15% in the Asia Pacific AI retail industry in 2020. By the end of 2021, 6.33 million more people are anticipated to purchase online than the 82.59 million current e-commerce users in the nation.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?