Data Acquisition System Market Size

Data Acquisition (DAQ) System Market size was valued at USD 1.9 Billion in 2023 and is likely to reach USD 3.81 Billion by the end of 2036, expanding at around 5.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of data acquisition system is assessed at USD 1.99 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.