Data Acquisition (DAQ) Market: Introduction
In today’s world, increasing industrial automation and rise in demand for real time data analysis leads to adoption of data acquisition systems in enterprises. Data acquisition system is an integration of devices used to collect information by measuring an electrical and physical phenomenon with a computer. A data acquisition system consists of hardware components including sensors and a computer with a programmable software. The hardware component in a DAQ acts as an interface between signal and a PC. DAQ systems collect data from instruments and sensors attached to devices in various industrial sites and transmit that data to a central site for monitoring and controlling purpose.
Data acquisition systems are also used to collect and monitor real time data. Data acquisition hardware is primarily used for research and analysis, manufacturing, diagnostics and repair, quality test, and PC-based control and automation.
Data Acquisition (DAQ) Market: Drivers and Restraints
Factors such as growing industrial automation requirements, increasing investments in infrastructure and renewable energy power plants are the factors driving the growth of data acquisition (DAQ) market. Moreover, increasing data monitoring requirements globally and increasing demand of the equipment for strategic decision-making in enterprise is resulting into the growth of data acquisition (DAQ) market.
However, complexities related to interfacing and software compatibility issues and increasing complexity related to signal conditioning are some factors causing a hindrance in the growth of data acquisition (DAQ) market.
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Data Acquisition (DAQ) Market: Segmentation
Data Acquisition (DAQ) can be segmented on the basis of component, industry vertical and region wise. On the basis of component the market is further segmented into hardware and software. Industry vertical wise market is further segmented into oil & gas, power generation, and manufacturing. Region wise, data acquisition (DAQ) market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe and Middle East & Africa.
Data Acquisition (DAQ) Market: Regional Overview
North America data acquisition (DAQ) market holds the largest market share and is expected to dominate the market in the near future owing to large number of early technology adopters in this region. Europe contributes a significant market share in data acquisition (DAQ) market due to rise in adoption of IoT by enterprises in these regions. Asia-Pacific region is expected to show the highest growth rate due to expanding manufacturing sector and rise in investments in automation of control and monitoring equipment in this region. Latin America an MEA region are expected to show a moderate growth rate in data acquisition (DAQ) market.
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Data Acquisition (DAQ) Market: Key Players
Siemens AG, Honeywell International Inc., Schneider Electric SA, ABB Ltd., Emerson Company, Rockwell Automation, HBM, ADwin, Alstom SA, and General Electric are some of the key players in Data Acquisition (DAQ) market.