Data Acquisition (DAQ) System Market
What market dynamics are playing a key role in accelerating the growth of the data acquisition (daq) system market?
The surge in demand for automation is significantly propelling the data acquisition (DAQ) system market’s expansion. The term automation pertains to the use of technology to generate and provide goods and services with limited human intervention. Most industrial sectors are turning to automated technologies to decrease errors, diminish repetitious tasks, and cut down on processing charges. The growing industrial automation demand is indirectly stimulating the enhanced utilization of data acquisition (DAQ) systems. For instance, Cavintek Inc., a US firm specializing in workflow automation and productivity tools, reported in October 2023 that over 80% of corporate executives were hastening productivity automation and broadening their use of remote workforce. Roughly 43% of companies intended to downsize their employee count through the adoption of automation technologies. As a result, the climbing demand for automation is accelerating the growth of the data acquisition (DAQ) system market.
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How will the growth rate of the data acquisition (daq) system market shape industry trends by 2034?
The market size of the data acquisition (DAQ) system has witnessed substantial growth recently. It is projected to escalate from $1.91 billion in 2024 to $2.03 billion in 2025, with a compound annual growth rate (CAGR) of 5.9%. The growth viewed in the past period can be linked to advancements in telecommunication infrastructure, research enhancement in life sciences, the need for energy efficiency, environmental monitoring, and compliance, along with test and measurement necessities.
The market of the data acquisition (DAQ) system is anticipated to experience substantial growth in the coming years, with an estimation to reach $2.92 billion in 2029, growing at a compound annual growth rate (CAGR) of 9.6%. The growth projection can be attributed to the rising demand for wireless DAQ solutions, progress in wireless communication, precision agriculture, the burgeoning growth of telehealth services, and the internationalization of research and development. Notable trends expected to be observed during the forecast period include improvements in sensor technologies, the incorporation of cloud for data storage and analysis, advanced tools for data visualization and analytics, highly compact and modular DAQ systems, as well as tailored solutions and adaptable software interfaces.
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What trends are poised to drive the future success of the data acquisition (daq) system market?
The advancement and introduction of innovative products are becoming increasingly prevalent trends in the Data Acquisition (DAQ) system market. Market participants are establishing unique products as part of their market expansion strategy. For instance, Hottinger Brüel & Kjær (HBK), a Danish firm known for its measurement and testing solutions, unveiled new data acquisition components, HBK FUSION and HBK ADVANTAGE, in November 2022. This groundbreaking ecosystem is designed to improve measurement effectiveness and simplify processes for engineers working on product development and certification. The HBK FUSION hardware provides high data transmission and channel density capabilities, and the HBK ADVANTAGE software ensures user-friendly data acquisition with its easy-to-use interface.
Which primary segments of the data acquisition (daq) system market are driving growth and industry transformations?
The data acquisition (DAQ) system market covered in this report is segmented –
1) By Type: Peripheral Component Interconnect (PCI), LAN Extensions For Instrumentation (LXI) Or Ethernet, VME Extensions For Instrumentation (VXI), PCI Extensions For Instrumentation (PXI), Universal Serial Bus (USB), Standalone
2) By Component: Hardware, Software
3) By Speed: High-speed (>100 KS/S), Low-speed (
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