Industrial Data Acquisitions Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Data Acquisition (DAQ) System Market Analysis and is segmented by Channel (Less Than 32, 32-128, Greater Than 128), Type (Hardware, Software), End-User Vertical (Water and Waste Treatment, Power & Energy, Automotive, Education and Research, Aerospace & Defense, Paper and Pulp, Chemicals and Other End-Users), and Geography

Data Acquisition Market Size

 Data Acquisition (daq) Market Size
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Study Period 2019 - 2029
Market Size (2024) USD 2.41 Billion
Market Size (2029) USD 3.40 Billion
CAGR (2024 - 2029) 7.10 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Data Acquisition Market

*Disclaimer: Major Players sorted in no particular order

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Data Acquisition Market Analysis

The Data Acquisition Market size is estimated at USD 2.41 billion in 2024, and is expected to reach USD 3.40 billion by 2029, growing at a CAGR of 7.10% during the forecast period (2024-2029).

Data acquisition systems play an essential role in real-time decision-making in the industrial sector. As companies develop toward a data-centric approach in production and operations to maintain a competitive edge while promoting the users to access the data at any time, irrespective of the location, data acquisition systems have evolved from mere processing systems to the key to achieving the full benefits of automation.

  • One of the primary drivers of the data acquisition market is the promising growth of Ethernet. Industrial Ethernet has grown faster than traditional field buses during the last few years and has overtaken field buses.
  • This demand has been augmented by the growing need for faster internet speeds, seamless integration of factory installations, the adoption of IoT, and industrial controls. Such trends have been instrumental in driving the demand for data acquisition systems.
  • Moreover, the adoption of factory automation and smart manufacturing across the world is a major growth driver of the data acquisition market. These include tracking multiple system parameters and monitoring many data sources while exchanging data in real-time, including PLCs, databases, maintenance applications, and existing data acquisition systems, to gain greater visibility of the machine and floor operations.
  • Although North America dominated the market for data acquisition systems, good government reforms, strong industrial automation adoption, and smart manufacturing initializes are expected to boost the market in the European region to attain a more significant market share over the forecast period. This development is anticipated to be backed by the economies of Germany and the United Kingdom, which are adopting the next generation of industrial solutions.
  • Additionally, advances in electronic technologies led to inexpensive sensing and monitoring capabilities. An Open-Source Hardware project called Arduino has been used, along with low-cost sensors, to develop several inexpensive, automated sensing and data logging systems for research purposes. This is suggestive of potential yet increased open-source DAQ software investment for developing the advanced system in the future.
  • The pandemic forced a transition for several industries and enterprises and primed the market for a switch into fully monitored operations and the increased prescience obtained through well-designed systems. Most critical systems began implementing data acquisition systems to improve their efficacies.

Data Acquisition Market Trends

This section covers the major market trends shaping the Data Acquisition Market according to our research experts:

Aerospace and Defense Accounts for Significant Share in the Market

  • The development of efficient space exploration devices elevates the demand for data acquisition systems that enable safer and better-managed journeys. Startups in the sector, such as SpaceX and BlueOrigin, have been consistent with work in the establishment of efficient, interconnected systems. In August 2021, SpaceX acquired the satellite data startup Swarm Technologies to consolidate their 120 SpaceBee satellites in orbit, furthering their data acquisition initiatives and expanding their star-link infrastructure.
  • The DDS was employed to present data from the P&V system, 32 IP cameras, eight microphones, and the DAS to observe the test in progress. GUIs are used complementarily to view real-time progress or retrieve past test data. The tandem operations of the three systems allow engineers to replicate real-world scenarios and encourage more detailed simulation of capabilities needed to complete early-stage structural tests.
  • Not all collaborations in aerospace have been dedicated to space exploration. Increasing sensitivity of sensors and data analysis systems have projected the growth of Space Observation initiatives. In July 2021, Spire Global announced the continuation of its participation in NASA's Commercial Small-sat Data Acquisition (CSDA) program with a USD 6 million contract extension. The contract includes Task Order 6 (TO6), a subscription data solution that provides for radio occultation (RO) data, soil moisture, precise orbit determination (POD) data, grazing angle GNSS-RO, total electron content (TEC) data, ocean surface wind speed GNSS-Reflectometry data, and magnetometer data acquisition. The data is made available to all federal agencies, NASA-funded researchers, and all US government-funded researchers for scientific purposes.
  • NASA stated the positives that the Spire data has enabled, primarily its GEOS Atmospheric Data Assimilation System, which utilizes space-based data to analyze the earth's atmosphere and integrate it into its earth observation systems. Furthermore, NASA has employed Spire data in research on water and sea ice levels in the polar regions, the Planetary Boundary Layer's height (PBL) height, and the day-to-day variability of thermospheric density at flight level.
Data Acquisition Market

North America Presently Holds the Largest Market Share

  • The North American market for data acquisition has been growing significantly, with players such as National Instruments, Keysight, Tektronix, and Siemens, accounting for over 35% of the market. However, increasing demand for intelligent manufacturing through Industrial Internet of Things (IIoT) architectures has been made achievable by selecting the appropriate hardware and software. The region is highly depictive of adopting faster means of production with errorless outcomes.
  • On average, the manufacturers spent nearly 80% of their time handling the architecture and data acquisition. With the remaining 20% left for data analysis, adopting IIoT can help lower the time spent on data acquisition. This requires a mainstream adoption of IIoT in the region. To build an IIoT ecosystem, the vendors have taken several measures. For instance, National Instruments with Cisco, Intel, and others created an IIoT Lab. Additionally, IoT is significant throughout supply chains.
  • Moreover, the United States has been one of the leading automotive markets in the world and is home to over 13 major automobile manufacturers. The automotive manufacturing industry has been one of the largest revenue generators for the country in the manufacturing sector.
  • Industrial automation is the primary driving factor expected to drive the demand for DAQ systems. The increasing adoption of controlling processes without human interference relies heavily on data to provide instructions. Hence, any minor misdirection may lead to drastic losses to the industry.
  • Efficient data acquisition has become a core component of any vehicle to provide accurate data regarding its working to ensure compliance with any regulation and maintain a sense of oversight over any operations. Since the Volkswagen scandal regarding its emissions, user needs have emerged from a reliability standpoint, and compliance with other systems and system functions, such as DCSs and operation and monitoring functions, has become a priority.
Data Acquisition Market

Data Acquisition Industry Overview

The Data Acquisition Market is fragmented. The major companies operating in the market try to eliminate the competition and improve their capabilities utilizing either acquisition or strategic mergers. Some key players in the market include ABB Ltd, Advantech Co. Ltd, Agilent Technologies, Campbell Scientific Inc., Data Translation Inc., Schneider Electric SE, Honeywell International, Siemens AG, Rockwell Automation Inc., MathWorks Corporation, General Electric Ltd, Omron Corporation, Yokogawa Electric Co., and Emerson Electric Co.

Some key developments in the market include:

  • April 2021- The global customer experience platform Piano entered into a partnership with ID5, InfoSum, LiveRamp, and Usercentrics to extend its First-Party Data Acquisition solution, that integrates its data management, identity, and customer journey orchestration capabilities and provides one system and one view that collects, unifies and activates user data across the entire digital ecosystem, preventing data leakage and poor ad performance while improving customer experience.
  • April 2021 - An automated external data platform, Explorium, announced the launch of its data acquisition product, Signal Studio, for advanced analytics and machine learning that allows the data and business analyst teams to quickly find and integrate the most relevant external data signals into their analytics pipeline.

Data Acquisition Market Leaders

  1. Advantech Co. Ltd.

  2. Keysight Technologies

  3. Schneider Electric SE

  4. Honeywell International

  5. Siemens AG

*Disclaimer: Major Players sorted in no particular order

Data Acquisition Market - Market Concentration.png
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Data Acquisition Market News

  • June 2022 - Advantech announced the launch of a new series of data acquisition modules - iDAQ series. The iDAQ series is a new series of modular DAQ modules and chassis, including the iDAQ-900 series chassis and iDAQ-700 and 800 series DAQ modules.
  • December 2021 - ABB India partnered with Indore smart city development to deploy digital technology that enables the continuous electricity supply to homes and businesses. ABB's Compact Secondary Substations (CSS) used in the project reduces downtime by providing a steady and reliable power supply through digitally-enabled supervisory control and data acquisition (SCADA) solutions.

Data Acquisition Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Growing Adoption of Industrial Ethernet Solutions

      2. 4.3.2 Increasing Complexity in Manufacturing Establishments is Driving Operators Towards Adoption of DAQ for Design Validation and Testing

      3. 4.3.3 Technological Advancements Such as Edge Computing and TSN

    4. 4.4 Market Restraints

      1. 4.4.1 Cost Implications and Saturation in Key Markets Could Hinder Growth Over the Forecast Period

    5. 4.5 Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Distribution Channel Analysis (Distributors, System Integrators and Direct Sales)

    8. 4.8 Technology Snapshot

      1. 4.8.1 Evolution of DAQ Connectivity Technologies

      2. 4.8.2 Anticipated Impact of the Adoption of TSN and Edge Computing

      3. 4.8.3 Analysis of the Growing Shift Towards Integrated Platforms

  5. 5. MARKET SEGMENTATION

    1. 5.1 Channel

      1. 5.1.1 Less than 32

      2. 5.1.2 32-128

      3. 5.1.3 Greater than 128

    2. 5.2 Type

      1. 5.2.1 Hardware

      2. 5.2.2 Software

    3. 5.3 End-User Vertical

      1. 5.3.1 Water and Waste Treatment

      2. 5.3.2 Power & Energy

      3. 5.3.3 Automotive

      4. 5.3.4 Education and Research

      5. 5.3.5 Aerospace & Defense

      6. 5.3.6 Paper and Pulp

      7. 5.3.7 Chemicals

      8. 5.3.8 Other End-Users

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia Pacific

      4. 5.4.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share Analysis - Global and Regional

    2. 6.2 Company Profiles

      1. 6.2.1 Advantech Co. Ltd

      2. 6.2.2 Spectris PLC (HBM and Bruel & Kjaer and Omega)

      3. 6.2.3 National Instruments Corporation

      4. 6.2.4 Schneider Electric SE

      5. 6.2.5 ABB Ltd

      6. 6.2.6 Honeywell International

      7. 6.2.7 Siemens AG

      8. 6.2.8 Rockwell Automation Inc.

      9. 6.2.9 Keysight Technologies

      10. 6.2.10 General Electric Ltd

      11. 6.2.11 Omron Corporation

      12. 6.2.12 Yokogawa Electric Co.

      13. 6.2.13 Tektronix

      14. 6.2.14 AMETEK (VTI Instruments)

      15. 6.2.15 Bustec

      16. 6.2.16 Emerson Electric Co.

      17. 6.2.17 Curtiss-Wright Corporation

      18. 6.2.18 DAQ Systems Co, Limited

      19. 6.2.19 Imc Dataworks, LLC

      20. 6.2.20 ADLINK Technology, Inc.

      21. 6.2.21 Beijing GEMOTECH Intelligent Technology

      22. 6.2.22 DATAQ Instruments

    3. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

    1. 7.1 Key Competitive Factors and Strategies of Major Vendors in DAQ Hardware and Software Segments

    2. 7.2 Major Mergers and Acquisitions

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Data Acquisition Industry Segmentation

Data acquisition is the process of sampling signals that measure real world physical conditions and converting the resulting samples into digital numeric values that a computer can manipulate.

The Data Acquisition Market is segmented by Channel (Less Than 32, 32-128, Greater Than 128), Type (Hardware, Software), End-User Vertical (Water and Waste Treatment, Power & Energy, Automotive, Education and Research, Aerospace & Defense, Paper and Pulp, Chemicals), and Geography.

Channel
Less than 32
32-128
Greater than 128
Type
Hardware
Software
End-User Vertical
Water and Waste Treatment
Power & Energy
Automotive
Education and Research
Aerospace & Defense
Paper and Pulp
Chemicals
Other End-Users
Geography
North America
Europe
Asia Pacific
Rest of the World
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Data Acquisition Market Research FAQs

The Data Acquisition Market size is expected to reach USD 2.41 billion in 2024 and grow at a CAGR of 7.10% to reach USD 3.40 billion by 2029.

In 2024, the Data Acquisition Market size is expected to reach USD 2.41 billion.

Advantech Co. Ltd., Keysight Technologies, Schneider Electric SE, Honeywell International and Siemens AG are the major companies operating in the Data Acquisition Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Data Acquisition Market.

In 2023, the Data Acquisition Market size was estimated at USD 2.25 billion. The report covers the Data Acquisition Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Data Acquisition Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Industrial Data Acquisitions Systems Industry Report

Statistics for the 2024 Industrial Data Acquisitions Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Data Acquisitions Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Industrial Data Acquisitions Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)