Data Acquisition System Market to grow by USD 560.39 million from 2022 to 2027, Increasing demand for monitoring in end-user industries to boost the market - Technavio

NEW YORK, Oct. 23, 2023 /PRNewswire/ -- The data acquisition system market by end-user (power and energy, automotive, aerospace and defense, education and research, and others), type (hardware and software), and geography (North America, Europe, APAC, Middle East and Africa, and South America) - Forecast and Analysis 2023-2027 report has been added to Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the data acquisition system market between 2022 and 2027 is USD 560.39 million. 

The growing demand for monitoring in end-user industries drives market growth. The main advantage of data monitoring is that it improves the operational quality and supports early fault detection during the production stage in the aerospace and defense, government, energy, and automotive sectors, by reducing the amount of human involvement. 

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Market Challenge - 

Data acquisition system complexity and CAPEX costs are significant challenges hindering market growth. There is a growing concern among the consumers of the data acquisition market systems regarding the costs and seeking out affordable, higher-quality data acquisition systems. Some of the main factors that influence the price of a data acquisition (DAQ) system include sensors, channel counts, and the need to build a data acquisition (DAQ) market system that can withstand challenging working conditions.

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• The market share growth of the power and energy segment is significant during the forecast period. There is an increasing adoption of data acquisition systems across the power and energy sector to gather, store, and analyze information about the production, distribution, and consumption of electricity. These systems typically comprise sensors, data loggers, and software that can track various variables, including voltage, current, power, energy, and temperature. 
• North America is estimated to account for 36% to the growth of the global DAQ system market during the forecast period. One of the main factors that is signficantly contributing to the growth of the global DAQ system market in North America is the increasing penetration of the Internet leading to the interconnection of several devices and the generation of vast amounts of data that needs to be collected, stored, and analyzed. Hence, such factors drive the market growth in North America during the forecast period.
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Key Companies in the Data Acquisition System Market:

ADLINK Technology Inc., ALTHEN GmbH, AMETEK Inc., AstroNova Inc., Campbell Scientific Inc., Curtiss Wright Corp., Dataforth Corp., Dewesoft d.o.o., Emerson Electric Co., Fortive Corp., Gantner Instruments Environment Solutions GmbH, General Electric Co., Honeywell International Inc., imc Test and Measurement GmbH, Keysight Technologies Inc., National Instruments Corp., Schneider Electric SE, Siemens AG, Spectris Plc, and Yokogawa Electric Corp.

Related Reports:

The data center IT equipment market size is estimated to grow at a CAGR of 9.09% between 2022 and 2027. The market size is forecast to increase by USD 65.26 billion. 

The modular data centers market size is estimated to grow at a CAGR of 15.58% between 2022 and 2027. The market size is forecast to increase by USD 26,783.44 million. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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