A Data Acquisition system comprises of instruments that acquire data from sensors, converting them into digital forms for storing in a central location. This data is then further analysed and processed in the location. The market growing at a CAGR of 6.07 %, is currently evaluated at $ 2.26 billion in 2015 and is estimated to cross $ 3.03 billion by 2020. The technology is also forecasted to grow tremendously in all verticals over the next five years.
The DAQ Market is changing as per the customer requirements with additional features of faster processors, higher sampling rates, more bandwidth etc. The DAQ system aids in real-time decision making due to its ability in obtaining and analysing information at real time. The emergence and the popularity of the M2M technology are exhibiting a new pattern of demand in the segment. The integration of DAQ with cloud computing is yet another area of interest in the market today. Keeping the following trends in mind, companies must focus on coming up with better solutions. There is a need to establish a competitive edge by making users access data at any location. The upcoming trend of communication through mobile technologies and their interfaces is also becoming increasingly popular.
With large scale industrial development in the APAC, Latin America, and Middle East regions, the DAQ technology is estimated to grow at a high pace in the regions for the next several years. Applications of sensors such as pressure and flow sensor in the oil, gas and medical domain are helping the growth of the industry.
The popular vendors in the technology are Advantech, Agilent Technologies, Campbell Scientific, Data Translation, Fluke Corporation, General Electric, Honeywell, Keyence, MathWorks, Supcon, VTI Instrumentations, Yokogawa etc.