Data Acquisition System Market is forecasted to grow by USD 560.39 Mn through 2023-2027  

The Data Acquisition System Market is forecasted to witness market expansion by USD 560.39 Mn, followed by accelerating growth at a CAGR of 5.6% between 2022 and 2027. The rising demand for monitoring in end-user industries, regulations to ensure the equal and safe supply of resources, and dominance of the power and energy industry as end-users are some of the significant contributors to the Data Acquisition System Market expansion.

Technavio's report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. 

Data Acquisition System Market Market Drivers at a Glance

Navigating through the eccentric market drivers of the Data Acquisition System Market: It has been observed that rising demand for monitoring in end-user industries is notably driving market growth. The operational quality gets enhanced through data monitoring and it aids in early fault detection during the production. Data monitoring is useful in the energy sector for assessing the performance of assets such as solar PV, wind turbines, and other power generation machinery.

For instance, "Data Monitoring is used in is used in the aerospace industry to validate the design and safety parameters for the engine and other aircraft components and analyze the flight aerodynamics characteristics."

Hence the increasing demand for data monitoring from the end-user industries will augment the market growth

Core Companies of the Data Acquisition System Market

Some of the prominent names when it comes to the major market leaders are 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., Schneider Electric SE, etc. which comes with a wide variety of products and innovations.

For Instance, Organizations like National Instruments Corp. offer data acquisition systems such as PC-Based Systems, CompactDAQ, and CompactRIO. This segment focuses on providing integrated solutions involving modular hardware and open, flexible software systems, to support evolving test and measurement needs of organizations. Our report includes qualitative and quantitative analyses of market leaders with a wider understanding of the business ecosystem.Download our sample report

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 5.6%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by USD 560.39 mn through 2023-2027.
    
3. What is a key factor driving this market?
   Increasing demand for monitoring in end-user industries will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   North America, Europe, APAC, Middle East and Africa, and South America are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   36% growth will originate from North America
    
6. What are the market segments covered in this report?
   The market is segmented 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)