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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Data acquisition (DAQ) is the process of measuring an electrical count such as voltage, current, temperature, pressure, or sound with a computer. DAQ system consists of various parts that includes sensors, DAQ measurement hardware, and a computer with programmable software. It is also known as a data logger. It basically collects data from real world and converts it into a signal, this data can be processed by computer.
It is widely used in industrial, commercial electronic, and other engineering fields as it is capable to capture electrical signal and convert it into analog and digital signal. DAQ systems help with processing power, productivity, display, and connectivity capabilities of computers, providing a more powerful, flexible, and cost-effective measurement solution.
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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.
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COVID-19 Scenario Analysis:
- Policy-makers and government organizations across the globe have used AI platforms, big data analytics, and data visualization tools to predict where the virus might spread in real-time. In addition, various research entities preferred advance technologies to identify medications that may be helpful to fight against COVID-19.
- Collecting vital data on COVID-19, such as transmissibility, risk factors, incubation period, and mortality rate is used for visualizations, creating mathematical models, and training neural networks through analyzing data. This has positively impacted the data acquisition system market growth in 2020.
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