Data Acquisition Hardware Market Overview
As per MRFR analysis, the Data Acquisition Hardware Market Size was estimated at 45.12 (USD Billion) in 2022. The Data Acquisition Hardware Market Industry is expected to grow from 47.78(USD Billion) in 2023 to 80.0 (USD Billion) by 2032. The Data Acquisition Hardware Market CAGR (growth rate) is expected to be around 5.89% during the forecast period (2024 - 2032).
Key Data Acquisition Hardware Market Trends Highlighted
The Data Acquisition Hardware Market is poised to witness significant growth in the coming years due to advancements in technology and increasing demand for real-time data analysis. Key market drivers include the proliferation of IoT devices, the growth of cloud-based data processing, and the increasing adoption of AI and machine learning algorithms. Opportunities to be explored include the development of low-cost, high-performance data acquisition hardware, the integration of sensors with data acquisition systems, and the expansion into new application areas such as healthcare and manufacturing.
Recent trends include the rise of wireless data acquisition systems, the development of modular and customizable hardware, and the adoption of open-source software for data acquisition. By leveraging these trends and opportunities, market participants can capitalize on the growing demand for data acquisition hardware and drive future growth in this dynamic market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Data Acquisition Hardware Market Drivers
Growing Demand for Data Analytics and IoT
The increasing adoption of data analytics and the Internet of Things (IoT) is driving the demand for data acquisition hardware. Data analytics helps businesses and organizations to make informed decisions by analyzing large volumes of data. IoT devices generate vast amounts of data that need to be collected and processed, which is driving the need for data acquisition hardware. Data acquisition hardware is used to collect data from various sources, such as sensors, machines, and IoT devices.
This data is then processed and analyzed to provide insights that can help businesses improve their operations, make better decisions, and gain a competitive advantage. The growing demand for data analytics and IoT is expected to continue to drive the growth of the data acquisition hardware market in the coming years. As more businesses and organizations adopt data analytics and IoT, the need for data acquisition hardware will increase. This is creating a significant opportunity for companies that provide data acquisition hardware and solutions.
Advancements in Technology
Advancements in technology are also driving the growth of the data acquisition hardware market. The development of new technologies, such as artificial intelligence (AI) and machine learning (ML), is making it possible to collect and process data more efficiently and effectively, and ML algorithms can be used to analyze data in real time and identify patterns and trends. This can help businesses to make more informed decisions and respond to changes in the market more quickly. The development of new technologies is also making data acquisition hardware more affordable and accessible.This is making it possible for small and medium-sized businesses to adopt data acquisition hardware and gain the benefits of data analytics.
Government Regulations
Government regulations are also driving the growth of the data acquisition hardware market. In many countries, governments are implementing regulations that require businesses to collect and report data on their operations. This is driving the demand for data acquisition hardware that can be used to collect and manage data in compliance with these regulations. For example, the European Union's General Data Protection Regulation (GDPR) requires businesses to collect and process data in a compliant manner.This is driving the demand for data acquisition hardware that can help businesses to comply with GDPR.
Data Acquisition Hardware Market Segment Insights
Data Acquisition Hardware Market Type Insights
The Data Acquisition Hardware Market is segmented into types, which include DAQ Cards, DAQ Modules, DAQ Chassis, and DAQ Systems. Among these, DAQ Cards held the largest market share in 2023 and are projected to maintain their dominance throughout the forecast period. The growth of this segment can be attributed to the increasing adoption of DAQ cards in various industries, including manufacturing, automotive, and healthcare.
DAQ Modules are expected to witness significant growth during the forecast period due to their flexibility and scalability, making them suitable for a wide range of applications.DAQ Chassis provides a modular and expandable platform for data acquisition systems, and their demand is expected to rise as more industries adopt automated data acquisition processes. DAQ Systems offers a complete solution for data acquisition, including hardware, software, and support, and their market is expected to grow steadily over the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Data Acquisition Hardware Market Form Factor Insights
The Data Acquisition Hardware Market is segmented by form factor into PCI/PCIe, PXI, USB, and Ethernet.
PCI/PCIe held the largest market share in 2023, owing to its high performance and reliability. The growth of the market is attributed to the increasing demand for data acquisition systems in various industries, such as automotive, aerospace, and healthcare.
PCI/PCIe: PCI/PCIe form factor offers high performance and reliability, making it suitable for applications that require high data throughput. It is commonly used in industrial automation, test and measurement, and medical imaging applications.PXI: The PXI form factor is designed for modular instrumentation and is known for its flexibility and scalability. It is widely used in applications such as test and measurement, data acquisition, and industrial automation. USB: USB form factor is widely used due to its ease of use and low cost. It is commonly found in portable and low-cost data acquisition applications, such as data logging, environmental monitoring, and laboratory automation. Ethernet: Ethernet form factor offers high data transfer speeds and is suitable for applications that require real-time data transmission.It is commonly used in industrial automation, medical imaging, and telecommunications applications.
Data Acquisition Hardware Market Application Insights
The Data Acquisition Hardware Market is segmented by Application into Industrial Automation, Test and Measurement, Medical Imaging, and Scientific Research. Industrial Automation is the largest segment, accounting for over 40% of the market in 2023. This segment is expected to continue to grow at a healthy CAGR of 5.5% over the forecast period, driven by the increasing demand for automation in the manufacturing and process industries. The Test and Measurement segment is the second-largest segment, accounting for over 30% of the market in 2023.
This segment is expected to grow at a CAGR of 6.0% over the forecast period, driven by the increasing demand for testing and measurement equipment in various industries. The Medical Imaging segment is the third-largest segment, accounting for over 15% of the market in 2023. This segment is expected to grow at a CAGR of 7.0% over the forecast period, driven by the increasing demand for medical imaging equipment in hospitals and clinics. The Scientific Research segment is the smallest, accounting for over 10% of the market in 2023. This segment is expected to grow at a CAGR of 4.5% over the forecast period, driven by the increasing demand for data acquisition hardware in research laboratories.
Data Acquisition Hardware Market Channel Count Insights
The Channel Count segment plays a crucial role in the Data Acquisition Hardware Market. In 2023, the '16 Channels' segment dominated the market with a revenue share of approximately 35%. This dominance is attributed to the widespread adoption of low-channel-count devices in various applications, including industrial automation, laboratory measurements, and medical diagnostics. The '16-32 Channels' segment is projected to witness significant growth over the forecast period, driven by increasing demand for higher-channel-count devices in applications such as research and development, automotive testing, and telecommunications.As per market research, this segment is estimated to account for a revenue share of around 28% by 2032. The '32-64 Channels' and '>64 Channels' segments are anticipated to contribute to the overall market growth.
These segments cater to specialized applications that require high-channel-count devices for complex data acquisition and analysis, such as in aerospace, defense, and semiconductor manufacturing. Their revenue share is expected to reach approximately 20% and 17%, respectively, by 2032. Overall, the Data Acquisition Hardware Market is expected to witness steady growth across all channel count segments, driven by advancements in technology and increasing demand from various industries.
Data Acquisition Hardware Market Protocol Insights
The Data Acquisition Hardware Market is segmented by protocol into analog input, analog output, digital input/output, and serial communication. The analog input segment held the largest market share in 2023, accounting for over 35% of the global market revenue. This segment is expected to continue to dominate the market over the forecast period, driven by the increasing demand for high-precision data acquisition systems in various industrial applications, such as manufacturing, automotive, and healthcare.
The analog output segment is expected to witness significant growth over the forecast period, owing to the rising adoption of industrial automation and process control systems.The digital input/output segment is also expected to grow at a steady pace, driven by the increasing demand for data acquisition systems in embedded applications, such as IoT devices and smart sensors. The serial communication segment is expected to grow at a moderate pace over the forecast period, driven by the increasing adoption of wireless communication technologies in industrial and commercial applications.
Data Acquisition Hardware Market Regional Insights
The Data Acquisition Hardware Market exhibits a fragmented competitive landscape with the presence of numerous regional and international players. North America accounted for the largest share of the global market. The region houses several key industry leaders and benefits from strong demand for data acquisition hardware across various industries, including automotive, aerospace, manufacturing, and healthcare.
Europe represents another significant regional market, with a robust presence of technology hubs and a growing number of startups specializing in data acquisition solutions.The region has a strong focus on industrial automation and Industry 4.0 initiatives, driving the adoption of data acquisition hardware for real-time data monitoring and analysis. APAC is projected to witness the fastest growth in the coming years. The region's rapidly developing economies, coupled with increasing investments in infrastructure and smart city projects, are expected to fuel demand for data acquisition hardware.
Countries such as China, India, and Japan are emerging as major markets for data acquisition solutions. South America and MEA hold a relatively smaller share of the global market but offer potential for growth.The regions are experiencing growing demand for data acquisition hardware in sectors such as mining, oil and gas, and renewable energy. Strategic investments in infrastructure development and government initiatives aimed at digital transformation are expected to drive market growth in these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Data Acquisition Hardware Market Key Players And Competitive Insights
Major players in the Data Acquisition Hardware Market industry are constantly striving to gain a competitive edge by investing in research and development to introduce innovative products and technologies. Leading Data Acquisition Hardware Market players are also focusing on strategic partnerships, mergers, and acquisitions to expand their market reach and enhance their product offerings. The Data Acquisition Hardware Market development is expected to be driven by the growing adoption of industrial automation, the increasing demand for real-time data analysis, and the need for improved data accuracy and reliability.
The Data Acquisition Hardware Market Competitive Landscape is expected to remain highly competitive, with key players vying for market share through product innovation, strategic alliances, and aggressive marketing strategies.National Instruments Corporation, a leading company in the Data Acquisition Hardware Market, offers a comprehensive portfolio of data acquisition hardware, including data acquisition cards, data loggers, and modular instrumentation.
The company's products are known for their reliability, accuracy, and ease of use. National Instruments Corporation has a strong global presence and a wide customer base across various industries, including manufacturing, automotive, aerospace, and healthcare.Advantech Co., Ltd., a competitor company in the Data Acquisition Hardware Market, provides a wide range of data acquisition hardware solutions, including data acquisition modules, data loggers, and industrial PCs. The company's products are designed for various applications, such as factory automation, process control, and environmental monitoring. Advantech Co., Ltd. has a strong focus on research and development and invests heavily in developing innovative products and technologies. The company has a global presence and serves customers in over 100 countries.
Key Companies in the Data Acquisition Hardware Market Include:
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Amphenol
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National Instruments
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Emerson Electric
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Bruel Kjaer
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Spectris
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Agilent Technologies
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Yokogawa Electric
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Parker Hannifin
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TE Connectivity
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HBM
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Texas Instruments
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Keysight Technologies
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Analog Devices
Data Acquisition Hardware Market Industry Developments
The Data Acquisition Hardware Market is projected to reach USD 80.0 billion by 2032, exhibiting a CAGR of 5.89% during the forecast period (2024-2032). The growth of the market is attributed to the increasing adoption of IoT devices, the rising demand for data analytics, and the growing need for automation in various industries.Recent news developments in the market include the launch of new products and solutions by key players.
For instance, in 2023, National Instruments introduced a new series of data acquisition devices designed for high-speed applications. Additionally, several companies are partnering to offer integrated solutions for data acquisition and analysis. For example, in 2022, Analog Devices and MathWorks collaborated to provide a combined hardware and software solution for data acquisition and signal processing. These developments indicate the growing competitiveness and innovation within the market.
Data Acquisition Hardware Market Segmentation Insights
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Data Acquisition Hardware Market Type Outlook
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DAQ Cards
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DAQ Modules
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DAQ Chassis
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DAQ Systems
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Data Acquisition Hardware Market Form Factor Outlook
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PCI/PCIe
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PXI
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USB
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Ethernet
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Data Acquisition Hardware Market Application Outlook
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Industrial Automation
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Test and Measurement
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Medical Imaging
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Scientific Research
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Data Acquisition Hardware Market Channel Count Outlook
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16 Channels
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16-32 Channels
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32-64 Channels
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>64 Channels
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Data Acquisition Hardware Market Protocol Outlook
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Analog Input
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Analog Output
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Digital Input/Output
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Serial Communication
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Data Acquisition Hardware Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
45.12(USD Billion) |
| Market Size 2023 |
47.78(USD Billion) |
| Market Size 2032 |
80.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.89% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Amphenol, National Instruments, Emerson Electric, Bruel Kjaer, Spectris, Agilent Technologies, Yokogawa Electric, Parker Hannifin, TE Connectivity, HBM, Texas Instruments, Keysight Technologies, Analog Devices |
| Segments Covered |
Type, Form Factor, Application, Channel Count, Protocol, Regional |
| Key Market Opportunities |
Autonomous driving systems, Industrial IoT applications, Cloud-based data acquisition, Advanced signal processing techniques, &AIpowered data analysis |
| Key Market Dynamics |
Rising AI adoption, Industrial automation expansion, Growing IoT integration, Increasing demand for remote monitoring, Government initiatives for digitization |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Data Acquisition Hardware Market is estimated to be valued at USD 47.78 billion in 2023.
The Data Acquisition Hardware Market is projected to grow at a CAGR of 5.89% from 2023 to 2032.
North America is expected to hold the largest market share in the Data Acquisition Hardware Market in 2023.
The industrial automation segment is expected to drive the growth of the Data Acquisition Hardware Market.
Some of the key competitors in the Data Acquisition Hardware Market include National Instruments, Analog Devices, and Siemens.
Some of the challenges faced by the Data Acquisition Hardware Market include the high cost of hardware and the need for skilled professionals to operate and maintain the equipment.
Some of the opportunities for the Data Acquisition Hardware Market include the increasing demand for data in various industries and the development of new technologies that are making data acquisition more efficient and affordable.
Some of the trends in the Data Acquisition Hardware Market include the increasing adoption of cloud-based data acquisition solutions and the development of wireless data acquisition devices.
Some of the factors driving the growth of the Data Acquisition Hardware Market include the increasing demand for data in various industries and the development of new technologies that are making data acquisition more efficient and affordable.
Some of the applications of Data Acquisition Hardware include industrial automation, automotive testing, and medical research.
