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Latest Report Details Of Data Acquisition (DAQ) Hardware Market Size & Share, Growth, Trends and Forecast 2017 - 2025
The main objective of this report is to define, describe, and forecast the global “Data Acquisition (DAQ) Hardware” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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Data acquisition hardware comprises signal conditioning circuitry, sensors, and analog-to-digital converters. Sensors are also called transducers that convert physical parameters into measurable electrical signals. The signal circuitry converts sensor signals to numerical values. Data acquisition hardware is an industrial control system that collects the data from instruments and sensors positioned at isolated sites, then communicates and demonstrates this data at an essential site for monitoring and control purposes. It is also used to collect and analyze data in real time. DAQ exploits the processing power, productivity, and connectivity capabilities of industry standard computers to provide powerful, cost effective, and flexible measurement solutions.
Factors favorable to the growth of the market are the increasing developments related to plug-in data acquisition board size. Further, increasing adoption of dedicated solutions for strategic decision making is expected to favor the growth of the data acquisition hardware market. With the number of industrial sites being set up in remote locations projected to surge during the forecast period, central monitoring requirements are projected to drive the DAQ market. Moreover, higher growth rate of industrial operations is anticipated to increase the demand for automation requirements resulting in higher opportunities for the market.
Data acquisition hardware is widely adopted for design validation, research & analysis, manufacturing & quality tests, asset condition monitoring, verification, diagnostics & repair, and computer based control and automation. Further, increasing analysis and design activities such as modeling behavior of scientific phenomenon and new product design is expected to support the growth of the data acquisition hardware market. Operations such as verifying product lifecycle, testing for accuracy and reliability, ensuring conformance to industry standards, and establishing evidence, design validation and testing is required for maintaining the required standards. The manufacturing and quality testing for electrical, mechanical, and environmental parameters is also carried out with the help of data acquisition hardware. Diagnostics and repair systems are useful to recognize root cause of the problem within machinery and image inspection systems. Moreover, asset conditioning and monitoring solutions are used for the durable condition monitoring of equipment such as turbines and compressors and to detect problems and prevent failures. Condition monitoring helps to prevent outages, optimize performance, and reduce repair costs. Computer based control systems help in handling various processes and machinery without human interaction. However, increasing complexity related to signal conditioning in the data acquisition market is expected to restrain the growth of this market.
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The data acquisition (DAQ) hardware market is anticipated to expand at a higher rate during the forecast period. Also, large investments in infrastructure would support the growth of the market. Industries are progressively demanding automated processes to simplify the operations. The market of data acquisition (DAQ) hardware is forecast to experience an encouraging surge in growth with the increasing demand for real time decision making and analysis.
The data acquisition (DAQ) hardware market can be segmented on the basis of component and end-users. Based on component, the market can be segregated into human machine interface, data acquisition software, remote terminal unit (RTU), SCADA, communication system, and programmable logic components. Furthermore, it is used by various end-users such as aviation and defense, chemicals, transportation, food and beverages, power generation, oil & gas, manufacturing, waste water treatment and others.
Some of the leading players driving the data acquisition (DAQ) hardware market are ABB Ltd., Advantech, Agilent Technologies, Campbel Scientific, Data Translation, Schneider Electric, Honeywell International, Siemens AG, Rockwell Automation, MathWorks, General Electric, Omron, Alstom,Yokogawa Electric Co, and Emerson Electric Co.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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