Manufacturing Industry’s Strong Emphasis on Industrial Automation & Focus on Shortening Time to Market (TTM) to Drive Demand for Data Acquisition (DAQ) Hardware
Increased adoption of industrial automation technologies and emphasis on faster Time to Market (TTM) in a bid to survive the growing competition in the manufacturing industry are poised to drive the global market for Data Acquisition (DAQ) Hardware to reach US$1.7 billion by 2022
Data acquisition (DAQ) is an established technical concept that focuses on recording, analyzing, and reporting of electrical measurements such as power, current and voltage, and transducer/sensor-driven data such as vibration, temperature, humidity, strain, flow and level etc. DAQ is carried out by DAQ systems, the specially designed tools to seamlessly collect data from equipment and processes in industrial sites, commercial facilities and scientific laboratories and transmit gathered data to a processing device for generating valuable insights for use in monitoring, control and analysis applications. DAQ systems, comprising of hardware and software solutions, are primarily available in the form of plug-in cards & boards and external devices such as data loggers, chart recorders, DAQ front ends, digital I/O, timing I/O and standalone systems. DAQ hardware solutions integrate signal conditioning circuitry, sensors, and analog-to-digital converters (ADCs) for collection and transmission of data. While sensors perform the role of converting physical parameters into electrical signals, signal conditioning circuitry focuses on converting sensor signals into digital values.
Market for DAQ hardware continues to expand, driven by the well-established role of data acquisition in test, measurement and instrumentation platforms; growing inclination towards data-driven strategies and real-time data analysis for improved control of industrial processes; and emergence of next generation industrial concepts such as Industrial Internet of Things (IIoT), Machine-to-Machine (M2M) communication, and Industry 4.0. Also benefiting market growth is the increase in research analysis, and design activities in scientific and product development domains such as modeling behavior analysis of scientific concepts and novel product design programs. Technology developments supporting growth include miniaturization of DAQ boards, increased availability of open source DAQ software leading to decreased DAQ costs, progression in plug-in DAQ card technology and wireless DAQ systems. DAQ systems based on Ethernet, USB, LXI, PCI and PXI architectures are gaining traction in the market. Adoption of DAQ remains highly visible in industries such as manufacturing, transportation/automotive, oil & gas, power generation, aerospace & defense, life sciences & healthcare and waste water treatment, among others.
As stated by the new market research report on Data Acquisition (DAQ) Hardware, the United States represents the largest market worldwide. Trailing at a CAGR of 9% over the analysis period, Asia-Pacific ranks as the fastest growing market. Factors such as expanding base of industrial manufacturers; rising investments in automation of control & processing equipment; and wider adoption of SCADA systems, PLCs and HMI technologies are poised to steer DAQ hardware sales in Asia-Pacific.
Major players in the market include ADInstruments Ltd., AMETEK Inc., Campbell Scientific Inc., DATAQ Instruments Inc., Fortive Corp., General Electric Company, HBM Test and Measurement, Honeywell International Inc., Keysight Technologies Inc., Mantracourt Electronics Ltd., Measurement Computing Corp., National Instruments Corporation, PRUFTECHNIK Dieter Busch AG, Red Lion Controls Inc., Spectris Plc, and Yokogawa Electric Corp., among others.
The research report titled “Data Acquisition (DAQ) Hardware – Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and strategic industry activities of global companies. The report provides market estimates and projections for Data Acquisition (DAQ) Hardware in US$ for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World. The report analyzes the DAQ Hardware market by product segments – External Devices, and Plug-in Cards & Boards.
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