According to a recent analysis, the global sales of data acquisition (DAQ) systems are anticipated to expand between 2022 and 2032 at a CAGR of 5.3%. The industry is anticipated to produce a dollar opportunity worth US$ 1.2 billion throughout the aforementioned forecast period, with a near valuation of US$ 3.0 billion. The market increased at a CAGR of 6.0% from 2015 to 2021. The industry is anticipated to generate US$ 1.8 billion by 2022.
Data monitoring enhances the operational quality and aids in early defect detection throughout the production stage in the aerospace & defense, government, energy, and automobile industries. Additionally, with the least amount of human involvement, data monitoring increases the operating efficiency of the equipment.
Important conclusions from the market study
• The market for data acquisition systems will grow by 1.6 times between 2022 and 2032.
• Data collection system hardware is expected to be the most popular offering type going forward, growing at a 5.7% CAGR through 2032.
• From 2022 to 2032, the aerospace and defense sector will grow at a CAGR of 5.5%.
With a 5.1% CAGR, the United States is projected to have the quickest market growth. China is projected to have the second-fastest market growth, with a 2032 market value of US$ 215.8 million.
• Opportunities totaling US$174.0 million, US$123.2 million, and US$108.6 million will come from Japan, the UK, and South Korea, respectively.
Competitive Environment
Many vendors are competing to give consumers a wide range of products on the global market for data acquisition systems. Key manufacturers are also concentrating on creating gadgets that are backed by the application of strict government rules and are providing solutions that are specifically tailored to meet their corporate goals. To acquire an advantage over other market competitors, the suppliers may also use product differentiation and upgrades.
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A sales agreement between Dewesoft and the Austrian business ELIN Motoren GmbH was signed in July 2021. As part of the final inspection process, the corporation has completely incorporated a required vibration measurement of each produced machine, motor, or generator.
• Concurrent Real-Time, a supplier of high-performance real-time computer systems, solutions, and software for commercial and government industries, was purchased by Spectris in July 2021. For the most complex hardware-in-the-loop and man-in-the-loop simulation, high-speed data acquisition, process management, and low-latency transaction processing applications in the world, Concurrent Real-RedHawk Time’s Linux systems provide hard real-time performance. As a result, Spectris will be better able to offer sales and support from locations across Asia, Europe, and North America.
