Growth Opportunities in the Data Acquisition Market, Global, 2021-2028

Description

Fast Industrial Internet of Things Adoption is Driving Transformational Growth and Demand for Data Acquisition

In modern business operations, data is an essential factor in making crucial decisions. The drivers that contribute to the growth of the data acquisition (DAQ) market share a common thread-the need for more data analysis at every stage, from design to manufacturing and operations. Powerful factors drive this market, such as the widespread adoption of the Industrial Internet of Things (IIoT), the escalating costs of machine failure that necessitate conformance testing and design validation, and increasingly stringent government regulations. The high demand for multichannel measurement capabilities from end users, a consequence of the growing number of IIoT use cases, will be a major driver of market growth.

This Frost & Sullivan analysis focuses on the global data acquisition market and determines that the market size will have grown from $1.89 billion in 2021 to $2.18 billion in 2028, at a compound annual growth rate (CAGR) of 2.8%, with a base year (2023) negative growth rate of 5.7%.

North America and Europe have relatively mature markets, mostly driven by DAQ ecosystem part replacement, whereas Asia-Pacific sees the integration of newer DAQ systems, attaining a faster CAGR of 3.3%. Higher electric vehicle sales in the automotive sector and the growing presence of distributed DAQ in industries that deal with large objects, such as aerospace and defense and energy, will further renew market opportunities.

Product Code: KA10-30

Growth Environment: Transformation in the Data Acquisition Market

Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Data Acquisition Industry

Growth Environment: Ecosystem in the DAQ Market

Scope of Analysis
Segmentation
Distribution Channels

Growth Environment: Companies to Action, DAQ Market

Competitive Environment
Key Competitors

Growth Opportunity Analysis: Growth Generator in the DAQ Market

Growth Metrics
Growth Drivers
Growth Driver Analysis
Growth Restraints
Growth Restraint Analysis
Forecast Considerations
Revenue Forecast
Revenue Forecast by Application/Signal Type
Revenue Forecast by Region
Revenue Forecast by Industry Vertical
Revenue Forecast Analysis
Pricing Trends
DAQ Applications
Revenue Share
Revenue Share Analysis

Growth Opportunity Analysis: Growth Generator Temperature

Growth Metrics
Revenue Forecast
Forecast Analysis

Growth Opportunity Analysis: Growth Generator Voltage

Growth Metrics
Revenue Forecast
Forecast Analysis

Growth Opportunity Analysis: Growth Generator Sound and Vibration

Growth Metrics
Revenue Forecast
Forecast Analysis

Growth Opportunity Analysis: Growth Generator Strain

Growth Metrics
Revenue Forecast
Forecast Analysis

Growth Opportunity Universe in DAQ Market

Growth Opportunity 1: Industrial IoT Solutions
Growth Opportunity 2: Multichannel DAQ
Growth Opportunity 3: DAQ in Conformance Testing and Design Validation

Best Practices Recognition in DAQ Market

Best Practices Recognition

Frost Radar in DAQ Market

Frost Radar

Next Steps

Benefits and Impacts of Growth Opportunities
Action Items & Next Steps
List of Exhibits
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