Data Acquisition System Market

National Instruments (Texas), Keysight Technologies (US) are Leading Companies in Data Acquisition System Market

The data acquisition systems market was valued at USD 1.8 billion in 2019 and is expected to reach USD 2.2 billion by 2024, at a CAGR of 5.0% between 2019 and 2024. Some of the major driving factors for the market include the increased demand for industrial mobility for remotely managing the process industry, the increasing adoption of cloud computing in data acquisition system, the increasing infrastructure development in terms of smart cities and transportation, and the rising adoption of Industry 4.0, Industrial Internet of Things (IIOT) and Smart Factory, using the data acquisition system.

Key players in the DAQ system ecosystem include National Instruments (Texas), Keysight Technologies (US), Siemens (Germany), HBM (Germany), Yokogawa Electric (Japan), ABB Ltd (Switzerland), Honeywell International (US), Rockwell Automation (US), AMETEK Inc (US), and Emerson Electric (US),etc. Product launches and developments have been the key strategies adopted by the players to grow and stay competitive in the DAQ system market between January 2016 and March 2018. Besides product launches and developments, companies have adopted partnerships, collaborations, and strategic alliances to enhance their product portfolio. These strategies have significantly strengthened their position in the overall DAQ system market.

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National Instruments ( Austin, Texas ) offers a wide portfolio of DAQ systems for a range of applications. The company is one of the pioneers in the DAQ system market. The company has adopted product launches as its key business strategy to expand its customer base and increase its revenue. For instance, in November 2018, National Instruments (NI) launched a new release of LabVIEW NXG, demonstrating continued investment in the next generation of LabVIEW engineering system design software. This version of LabVIEW NXG simplifies the most time-consuming tasks in automated test and automated measurement applications, from setting up and configuring systems to developing test and measurement code and creating web-ready applications.

Keysight, ( Santa Rosa, CA ) a spin-off from Agilent Technologies, is one of the leading companies in data acquisition system market. The company is one of the key players in wireless DAQ and backed by huge expertise to engineer such products and services. It mainly focuses on manufacturing innovative products by carrying out extensive research & development (R&D) activities to maintain its market position and gain a competitive advantage. The company has a strong expertise in developing DAQ devices and continuous innovation supported by 13 R&D centers, globally.

Related Reports:

Data Acquisition System Market by Offering (Hardware, Software), Lifecycle Application (R&D, Field, Manufacturing), Vertical (Automotive & Transporation, Aerospace & Defense, Energy & Power, Environmental Monitoring, Food & Beverages), Region - Global Forecast to 2024

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Report Code
SE 7123
RI Published ON
5/28/2019
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