Data Acquisition System (DAQ) Market by Component Type (Hardware, Software), Application (Research and Analysis, Manufacturing and Quality, Asset Condition Monitoring, Design Validation and Repair), End-user, and Region - Global Forecast to 2024

Data Acquisition System (DAQ) Market by Component Type (Hardware, Software), Application (Research and Analysis, Manufacturing and Quality, Asset Condition Monitoring, Design Validation and Repair), End-user, and Region - Global Forecast to 2024

The global DAQ system market size is expected to reach USD 2.6 billion by 2024, at a CAGR of 5.9% from 2019 to 2024
The global DAQ system market size is projected to reach USD 2.6 billion by 2024 from estimated revenue of USD 1.9 billion in 2019, at a CAGR of 5.9% during the forecast period. Increasing importance of the DAQ system and monitoring in sectors like aerospace, energy and power, automotive, telecom, are driving the market in North America, Asia Pacific, and Europe.

“Research and analysis segment is expected to dominate the DAQ system market.”
The research and analysis segment is expected to be the largest market, by application type, during the forecast period. The growth is evident owing to the rising demand for highly accurate, fast and precise DAQ system for testing of these new technologies in fields of wireless communication, autonomous vehicles and connected cars.

“Aerospace, defence and government is expected to dominate the DAQ system market. “
The aerospace and defence segment of the market, by end-user type, is estimated to be the largest during the forecast period. The growth is attributed to heavy investment in the US, France and UK and advent of new technologies like flying urban taxies, connected cars and autonomous vehicles.

“North America to lead the DAQ system market in terms of value.”
North America is the largest market in the DAQ system, followed by Asia Pacific, and Europe. The market is projected to be the fastest-growing market during the forecast period owing to rising investments in aerospace and defence, wireless communication, infrastructure and energy in the US and Canada.

Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:
By Company Type: Tier I–61%, Tier II–20%, and Tier III–19%
By Designation: C-Level–56%, Director Level–30%, and Others–14%
By Region: North America–40%, Europe–30%, Asia Pacific–10%, Middle East & Africa–10%, South America–10%

Note: Others include sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined based on their total revenue as of 2017—Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3: <USD 500 million.

The global DAQ system market is dominated by leading players that have an extensive regional presence. The leading players in the DAQ system industry include National Instruments (US), Keysight Technologies (US), Fortive (US), Teledyne (US), and Yokogawa (Japan) and others.

Research Coverage:
The report defines, describes, and forecasts the DAQ system industry, by component type, application, end-user, and region. It also offers detailed qualitative and quantitative analyses of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the DAQ system market.

Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global DAQ system comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the DAQ system and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.

Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall DAQ system and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities