Growth Opportunities in the Data Acquisition Market, Global, 2021–2028
Fast Industrial Internet of Things Adoption is Driving Transformational Growth and Demand for Data Acquisition
In modern business operations, data is an essential factor in making crucial decisions. The drivers that contribute to the growth of the data acquisition (DAQ) market share a common thread—the need for more data analysis at every stage, from design to manufacturing and operations. Powerful factors drive this market, such as the widespread adoption of the Industrial Internet of Things (IIoT), the escalating costs of machine failure that necessitate conformance testing and design validation, and increasingly stringent government regulations. The high demand for multichannel measurement capabilities from end users, a consequence of the growing number of IIoT use cases, will be a major driver of market growth.
This Frost & Sullivan analysis focuses on the global data acquisition market and determines that the market size will have grown from $1.89 billion in 2021 to $2.18 billion in 2028, at a compound annual growth rate (CAGR) of 2.8%, with a base year (2023) negative growth rate of 5.7%.
North America and Europe have relatively mature markets, mostly driven by DAQ ecosystem part replacement, whereas Asia-Pacific sees the integration of newer DAQ systems, attaining a faster CAGR of 3.3%. Higher electric vehicle sales in the automotive sector and the growing presence of distributed DAQ in industries that deal with large objects, such as aerospace and defense and energy, will further renew market opportunities.
Growth Environment: Transformation in the Data Acquisition Market
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8
The Impact of the Top 3 Strategic Imperatives on the Data Acquisition Industry
Growth Environment: Ecosystem in the DAQ Market
Scope of Analysis
Segmentation
Distribution Channels
Growth Environment: Companies to Action, DAQ Market
Competitive Environment
Key Competitors
Growth Opportunity Analysis: Growth Generator in the DAQ Market
Growth Metrics
Growth Drivers
Growth Driver Analysis
Growth Restraints
Growth Restraint Analysis
Forecast Considerations
Revenue Forecast
Revenue Forecast by Application/Signal Type
Table Total DAQ Market: Revenue Forecast by Application/Signal Type, 2021-2028
Revenue Forecast by Region
Table Total DAQ Market: Revenue Forecast by Region, 2021-2028
Revenue Forecast by Industry Vertical
Table Total DAQ Market: Revenue Forecast by Industry Vertical, Global, 2021-2028
Revenue Forecast Analysis
Pricing Trends
DAQ Applications
Revenue Share
Revenue Share Analysis
Growth Opportunity Analysis: Growth Generator Temperature
Growth Metrics
Revenue Forecast
Forecast Analysis
Growth Opportunity Analysis: Growth Generator Voltage
Growth Metrics
Revenue Forecast
Forecast Analysis
Growth Opportunity Analysis: Growth Generator Sound and Vibration