Latest News- Data Acquisition (DAQ) System Market: Power and energy is expected to lead the End-user segment during 2025-2029

The Data Acquisition (DAQ) System Market is being driven by Increasing demand for monitoring in end-user industries

The Data Acquisition (DAQ) System Market is expected to grow at a CAGR of 5.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 643 million. In today's digital economy, the adoption of high-speed connectivity technologies, particularly 5G, is increasingly becoming a business necessity across various sectors. For instance, the automotive industry is transitioning towards autonomous vehicles, which require advanced digital systems for image recognition, voice detection, and other applications. However, current 4G technology falls short in providing the necessary speed and reliability for these systems. Similarly, the aerospace industry is leveraging 5G to enhance avionics equipment performance by reducing latency and boosting connectivity speed. Moreover, several nations are investing in 5G infrastructure to maintain their competitive edge and support their industries' digital transformation. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Power and energy
  • Automotive
  • Aerospace and defense
  • Education and research
  • Others
• Type
  • Hardware
  • Software
• Speed
  • High speed
  • Low speed
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for monitoring in end-user industries
• Regulations to ensure equal and safe supply of resources
• Dominance of power and energy industry as an end-user

However, the market also witnesses some limitations, which are as follows:

• Data acquisition system complexity and CAPEX costs
• High competition between companies
• Data security and privacy concerns

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Market Scope in Data Acquisition (DAQ) System Market Research Report

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Research Analysis Overview

The Data Acquisition System Market encompasses various components including Data Acquisition Hardware, Software, and Techniques for logging, analyzing, and visualizing data in real-time. Applications span from Industrial Automation and Smart Manufacturing to Aerospace Testing and Defense, with a focus on High-Speed Connectivity, High-Performance Computing, and Edge Computing. Security, Integrity, and Standardization are crucial, while Machine Learning and Predictive Analytics drive innovation. Data Acquisition Platforms, Tools, and Technologies continue to evolve, with trends towards Real-Time Control, Process Control, and 5G Network Infrastructure. Applications extend to Automotive Testing, Energy Sector Testing, Wind Turbine Monitoring, Solar PV Monitoring, Power Generation Monitoring, Aircraft Design, Aircraft Development, Aircraft Safety, Engine Monitoring, Avionics Systems, and more.

Market Research Overview

The Data Acquisition System (DAQ) market falls under the broader category of electronic equipment and instruments within the global electronics industry. This market encompasses solutions for data monitoring, fault detection, and operational efficiency in various sectors such as wind power generation, wind turbine data, flight aerodynamics, aircraft components, and harsh environments. Technavio projects the growth of the global electronic equipment and instruments market, which includes DAQ systems, to be driven by the increasing demand for advanced testing capabilities in industries like semiconductors, automotive, IT, consumer electronics, industrial, energy, and medical devices. Factors like technological advancements, digital transformation, and adherence to technical standards are fueling this demand. Furthermore, emerging technologies like 5G and their integration into autonomous cars are expected to create new opportunities for DAQ systems in the coming years.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/