Future Market research insights:
In 2020, the worldwide market for Data Acquisition (DAQ) Systems was valued at USD 1.6 billion, and it is expected to reach 2028 at a CAGR of 5.9% between 2022 and 2028.
The term "data acquisition" refers to the process of collecting signals from physical things and turning them into digital values that can be processed and analyzed on a computer. DAQ functionality bridges the gap between physical signals and digital processing on a computer. A set of sensors and a computer are the two main parts of a Data Acquisition System. A sensor, sometimes called a transducer, is an instrument that measures and transmits an external physical quantity by means of an electrical impulse.
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There is a growing need for data monitoring on a global scale, and more companies are turning to technology to aid in making strategic decisions. This has fueled the expansion of the data acquisition (DAQ) systems market. In sectors as diverse as aerospace and defense, government, energy, and automobile manufacturing, data monitoring improves the quality of operations and assists in the early detection of faults. And by keeping tabs on everything that goes on with the machines, monitoring data may help boost productivity while requiring less attention from humans.
Key Players:
National Instruments Corporation (United States); Siemens Digital Industries Software (United States); Teledyne Technologies Incorporated (United States); Yokogawa Electric Corporation (Japan); Spectris PLC (United Kingdom); Rockwell Automation Corporation (United States); Schneider Electric (Un (France), Curtiss-Wright Corporation (United States), Dataforth Corporation, AMETEK, Inc. (United States) Graphtec Corporation (Japan), Hioki E.E. Corporation (Japan)
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Regional Analysis:
Revenue from the worldwide data acquisition (DAQ) system market is expected to grow significantly across regions during the projected period. The global data acquisition (DAQ) system market was examined across five regions: North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America. The United States, Canada, and Mexico together form what is known as North America. Europe consists of the United Kingdom, Germany, France, and all of the other European countries. All of Asia and the Pacific, not just China, Japan, and India, are included in this region. Growth in the Asia-Pacific region for DAQ systems is anticipated to be the most rapid of any region. Some of the most important factors driving the DAQ system market growth in APAC are the region's rapid technological advancements and increased manufacturing units. Demand for DAQ solutions is expected to rise in the nation because of the presence of major markets like China, Japan, and India.
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Market segmentation:
The worldwide market for data acquisition (DAQ) systems may be broken down into many submarkets based on factors such as product category, processing speed, end-use industry, geographical location, and others.
The market for data acquisition (DAQ) systems has been split up into the hardware sector and the software section.
The data acquisition (DAQ) system market has been segmented into high-speed (100 KS/S) and low-speed (100 KS/S) categories based on data transfer rates.
The research and development (RD), field (field), and manufacturing (manufacturing) segments of the data acquisition (DAQ) system market have been identified.
The market for data acquisition (DAQ) systems has been segmented by industry into many subsegments: automotive transportation; aerospace defense; wireless communications infrastructure; power energy; environmental monitoring; healthcare; food beverage; others.
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