Data Acquisition System Market Size

Data Acquisition (DAQ) System Market size is expected to cross USD 3.7 Billion by the end of 2035, growing at a CAGR of 5.5% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of the data acquisition system was over USD 1.8 Billion. The demand for industrial Ethernet, which addresses the particular issues faced by factory environments, such as noise, specialized process requirements, and severe circumstances, is on the rise, thus resulting in the growth of the global market.  According to estimates, the data transmission rate ranges from 10 Mbps to 1 Gbps with the industrial Ethernet.

The data acquisition (DAQ) system market is expanding as a result of the increasing adoption of Internet of Things (IoT)-based systems in a variety of industries. These systems enable businesses to monitor inventory in real time and receive prompt warnings in case of any deviations, enabling proactive and effective management. China, Western Europe, and North America account for 67% of IoT usage. 94 % of retailers who use IoT say the benefits exceed the risks. There will be a concentration of 40% of the value that IoT creates in developing economies.