Rise in demand for data monitoring among end user sectors propels the demand for data acquisition systems, which is expected to boost the market growth during the forecast period.
In addition, emergence of big data, advent of IoT devices, and rise in technological advancements in data acquisition systems are expected to propel growth of the data acquisition system market.
Moreover, rise in investments in the automotive sector, owing to its technologically driven demand is also anticipated to boost the market growth. This is attributed to rise in demand for industrial mobility for remotely managing data process in automated vehicles, which, in turn, is expected to boost the market growth.
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However, implementation of the data acquisition system requires high cost which can be a drawback for the market growth. Contrarily, growing demand for automated data acquisition systems and need for high-speed connectivity technologies, such as 5G, in end-user sectors is an opportunistic factor expected to promote the growth of the data acquisition data acquisition system market in the forecasted period.
Increase in requirement for tracking real-time data, which is used for navigation or tracking, improving visibility, and controlling production activities drive the adoption of data acquisition systems.
Integration of data acquisition systems with equipment presents such as IoT devices and data analytics will allow manufacturers to monitor performance and improve quality to boost overall efficiency of the data system software. Growth in the use of internet of things (IoT) devices and machine-to-machine communication (M2M) technologies among various industries has broadened the scope of R&D for developing future applications of DAQ systems.
Key benefits of the report:
- This study presents the analytical depiction of the global data acquisition system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the data acquisition system market.
- The current market is quantitatively analyzed from 2021 to 2027 to highlight the global data acquisition system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the data acquisition system market.
- The report provides a detailed global data acquisition system market analysis based on competitive intensity and how the competition will take shape in coming years.
Major players analyzed in the market include Ametek Inc., Campbell Scientific Inc., Data Translation, Dewesoft, Emerson Electric corporation, Keysight Technologies, National Instruments Corporation, Rockwell Automation Inc., Siemens AG, and Yokogawa Electric Corporation.
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