Global Portable Data Acquisition System Market to Grow at 9.5% CAGR During the Forecast Period

Published | 18 October 2022

The Global portable data acquisition (DAQ) system market is growing rapidly due to its key role in robotization, medical data exchange, as well as a variety of uses in other fields.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, forecasts Global Portable Data Acquisition (DAQ) System Market to grow at a CAGR of 9.5% during the forecast period between 2022 and 2028. A major growth factor for global portable data acquisition (DAQ) system market is DAQ systems’ use in increasing automation, robotization, and medical data exchanges. A portable data acquisition (DAQ) system uses a variety of detectors to collect information in the form of analog signals about physical variables, such as voltage, current, temperature, pressure, and sound. Signal conditioning circuits and analog-to-digital transformers (ADCs) handle incoming signals for further examination and analysis. When manufacturing marketable products, such as motors and aircraft, it gives superior control and a quick response to failure. As a result, it finds use in a variety of fields, including quality control, combustion analysis, process control, and research and development (R&D).

Global Portable Data Acquisition System Market - Technology Advancements

In artificial intelligence (AI), data collecting systems are critical for real-time decision- making. Portable data acquisition (DAQ) systems have evolved from bare processing systems to the key to achieving the full benefits of robotization as companies evolve toward a data-centric approach in product and operations to maintain a competitive edge. The increasing use of electric cars (EVs) is one of the primary factors for portable data acquisition (DAQ) systems growth. EVs have grown at a quicker rate than fossil fuel motor cars in recent times and have now surpassed them.

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Increasing demand for portable data acquisition systems

One of the primary reasons for the growth of portable data acquisition (DAQ) systems is the integration of control systems with DAQ results, which allows real-time control and post-recording display and analysis of data. Apart from that, the food and beverages (F&B) assistance's expensive relinquishment of administrative control and data acquisition (SCADA) systems for adding food quality operation positively increases the demand for DAQ systems. The use of these technologies with the internet of things (IoT) in home robotization systems is also contributing to increased product demand. Likewise, the growing use of portable DAQ systems in healthcare assistance is propelling the market expansion, as DAQ systems make medical data exchange easier.

Regional Insights

While North America dominated the market for portable DAQ systems, favorable government reforms, robust industrial automation adoption, and smart manufacturing startups are expected to boost Europe’s market share during the forecast period. This expansion is expected to be aided by the major economies, such as Germany and the United Kingdom, which are implementing the next generation of industrial solutions.

Impact of Covid-19 on Global Portable Data Acquisition System Market

In 2020, global portable DAQ system market declined. This is due to governments in several major economies imposed lockdowns to prevent the spread of COVID-19. Manufacturing activities have been severely hampered because of the lockdowns. The major verticals for DAQ system solutions are aerospace and defense, as well as automotive and transportation. Due to the COVID-19 pandemic, many countries, including the United States, Japan, China, and South Korea, halted automobile production for several weeks in 2020. The pandemic-induced lockdowns impacted Chinese parts exports, manufacturing interruptions across Europe, and US assembly plants.

Competitive Landscape

Prominent players in global portable data acquisition system market include National Instruments Corp., ABB Group, Keysight Technologies, Siemens Digital Industries Software, Spectris PLC, Fortive, ADLINK Technology, AMETEK, Inc., Dewesoft d.o.o, Teledyne Technologies Incorporated, Yokogawa Electric Corporation, Pentek, Inc., AstroNova Inc., Campbell Scientific Inc., Curtiss-Wright Corporation, Dataforth Corporation, Dewetron GmbH, Emerson Electric Co., Gantner Instruments, General Electric Company, Graphtec Corporation, imc Test & Measurement GmbH, Hioki E.E. Corporation, Honeywell International Inc., MTS System Corp., Kistler Group, Rockwell Automation Corporation, Schneider Electric SE, and Sefram. These companies follow various strategies, including mergers and acquisitions, partnerships, licensing agreements, join ventures, and collaborations, to gain further market share in global portable data acquisition market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Portable Data Acquisition System Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Portable Data Acquisition System Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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