Data Acquisition System (DAQ) Market

Market Leaders - Data Acquisition System (DAQ) Market

The global DAQ system market size is projected to reach USD 2.6 billion by 2024 from an estimated revenue of USD 1.9 billion in 2019, at a CAGR of 5.9% during the forecast period. North America is expected to lead the DAQ system market, followed closely by Asia Pacific and Europe. The North America region is also expected to grow at the fastest rate during the forecast period. The rising demand for the DAQ system in end-use sectors such as aerospace and defense, automotive, wireless communication and energy are expected to fuel the market growth.

The DAQ system market is served by a mix of large international players with their presence and capabilities across different regions, as well as local players that have a strong foothold in the domestic markets. The key players operating in the market include National Instruments (US), Keysight Technologies (US), Fortive Corporation (US), Teledyne (US), Ametek (US) and Yokogawa (Japan).

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The major strategies adopted by the players in the DAQ system market include new product launches, contracts & agreements, and mergers & acquisitions. The new product launch was the most commonly adopted strategy from 2016 to 2019. Collaboration and partnerships are other strategies adopted by companies, as they look to strengthen their service offerings and geographic market reach.

National Instruments (US) is a key player in the DAQ market that offers computer-based instrumentation hardware and software for testing and calibration. The DAQ system products offered by the company broadly encompass hardware, software, and specialty products. Hardware products include multifunction input/output, voltage, current, digital input/output, counters and timers, packages controllers, board-level controllers, HMIS and display and safety products while software products help create customized solutions with integrated development environments. The company caters to various industries and applications worldwide including semiconductor, transportation, aerospace, government and defense.

Keysight Technologies (US) is another leading player in the DAQ system market. The DAQ products include electronic design, test software, instruments, and systems used in simulation, design, validation, manufacturing, installation, and optimization of electronic equipment. The software-driven solutions include design and verification tools, a range of electrical test and measurement instruments, comprehensive manufacturing systems, material analysis, and university education solutions. The end-users of the company’s DAQ products include power, energy, automotive, medical, research, and education sectors.

Related Reports:

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

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Report Code
SE 7123
RI Published ON
2/11/2020
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