The Data Acquisition Market size is estimated at USD 2.41 billion in 2024, and is expected to reach USD 3.40 billion by 2029, growing at a CAGR of 7.10% during the forecast period (2024-2029).
Data acquisition systems play an essential role in real-time decision-making in the industrial sector. As companies develop toward a data-centric approach in production and operations to maintain a competitive edge while promoting 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 achieving the full benefits of automation.
The Data Acquisition Market is fragmented. The major companies operating in the market try to eliminate the competition and improve their capabilities utilizing 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:
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