The application
segment of the Data Acquisition System market is segmented into
research and analysis, manufacturing and quality, asset condition monitoring
and design validation and repair. Research and Analysis expected to register
the highest growth rate during the forecast period. The growth in this segment
is expected to be driven by an increasing need for real-time analysis of data
from key end-users such as automotive, wireless communication, and aerospace
and defense.
Who are the Key players operating in Data
Acquisition System market?
The major players in
the data acquisition system (DAQ) market are market are National Instruments
(US), Keysight Technologies (US), Fortive Corporation (US), Teledyne (US),
Ametek (US) and Yokogawa (Japan).
Which would be the leading region with the
highest market share by 2024?
The market is
segmented, by region, into North America, South America, Europe, Asia Pacific,
and the Middle East & Africa. North America comprising of the US, Canada,
and Mexico had the largest share of data acquisition system market share in
2018, and this trend is expected to continue until 2024. The DAQ system market
in the region is expected to be driven by sectors such as aerospace, defense
& government services, automotive, wireless communication and
infrastructure and energy. Increasing the need for tracking real-time data,
improved visibility, and control on production activity are driving the
adoption of the DAQ system in this region.
Which of the end-user segments is expected to
have the maximum opportunity to grow during the forecast period?
The DAQ system is
segmented, by end-user, into aerospace, defense & government services,
automotive, energy, wireless communication and infrastructure, and others. The
automotive sector is projected to grow at the fastest rate during the forecast
period. The auto sector is highly technology-driven and the DAQ system finds
full applications ranging from virtual load test to on-road data acquisition.
DAQ systems are extensively used to test the vehicles and components under real
conditions of use such as increased exposure to extreme ambient and temperature
conditions that reflect the real-world operational scenarios to measure further
and enhance their operations.
What are the industry trends that would be
seen over the next five years?
Aerospace, defense
& government services segment accounted for the largest share of the DAQ
system market in 2018. The aerospace sector is driven by increased research and
development investment in countries such as the US, France, UK, Germany and
Russia along with the advent of new technologies like flying urban taxies,
electric passenger planes and freight-carrying drones. This is expected to
drive this segment across regions such as North America, Asia Pacific, and
Europe.
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