Data Acquisition Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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.

Market Snapshot

Data Acquisition Market
Study Period: 2019- 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.28 %

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Market Overview

The data acquisition market registered a CAGR of 7.28% during the forecast period (2021 - 2026). Data acquisition systems play a crucial role in real-time decision-making in the industrial sector. As companies evolve toward a data-centric approach in production and operations to maintain a competitive edge while facilitating 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 achieve the complete benefits of automation.

  • One of the major 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 the tracking of multiple system parameters and monitoring a multitude of data sources while exchanging data in real-time, which includes PLCs, databases, maintenance applications, and existing data acquisition systems, to gain greater visibility of the machine as well as floor operations.
  • While North America dominated the market for data acquisition systems, the favorable government reforms, robust industrial automation adoption, and smart manufacturing initializes are expected to augment the market in the European region to attain a greater market share over the forecast period. This growth is anticipated to be supported by the economies of Germany and the United Kingdom that are adopting the next generation of industrial solutions.
  • However, higher implementation cost is expected to be a factor that challenges the growth of the market.

Scope of the Report

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.

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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Key Market Trends

Human Machine Interface Accounts for Significant Share in the Market

  • HMIs are used in various locations, such as process control, factory floor, machines, portable handheld devices, etc. Applications of this technology include various appliances, automotive, machine health monitoring, and industrial automation, among others.
  • An HMI solution improves the operator's productivity and provides insights into system control and maintenance. For instance, the HMI function of setting off alarms provides visual indicators of a machine's issue and severity.
  • Furthermore, technologies, such as Open Platform Communications Unified Architecture, integrated into PC-based machine controls, have allowed the safe transmission of encrypted data from machine to cloud and enterprise-level systems.
  • Owing to the broadening of its functionality, through the integration with PLC applications or PC-based multi-user systems, HMI technology has also increased market adoption.
  • Moreover, the increasing adoption of Industrial IoT, coupled with these benefits of HMI, is expected to drive market growth.
data acquisition

United States Presently Holds the Largest Market Share

  • The United States is on the verge of the fourth industrial revolution, where data is being extensively used for production and integration with a wide range of manufacturing systems across the supply chain.
  • The country 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, which is expected to drive the demand for the DAQ systems, as the increasing adoption of controlling processes without human interference is heavily reliant on data to provide instructions, and hence any minor misdirection may lead to drastic losses to the industry.
  • The United States is a key market for factory automation and advanced devices and equipment installation within the North American region. The demand for advanced manufacturing technologies may further enhance the demand for DAQ products in the market.
Data Acquisition Market

Competitive Landscape

The data acquisition market is fragmented. The major companies, which are operating in the market, try to eliminate the competition and improve their capabilities by means of 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- 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.

Recent Developments

  • 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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    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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Frequently Asked Questions

The Data Acquisition Market market is studied from 2019 - 2026.

The Data Acquisition Market is growing at a CAGR of 7.28% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

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

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