DAQ technologies are deployed in a diverse mix of vertical market segments in a range of divergent use cases. Of the more than 20 consuming industries VDC tracked as part of this research, none generated more than 15% of DAQ revenues. While smaller consuming sectors leveraging new Industrial Internet of Things (IIoT) use cases will attain the greatest growth rates, traditional DAQ consumers such as the automotive sector will drive market growth from a dollar volume perspective.
The automotive sector is among the largest consumers of DAQ technologies globally. Use cases for DAQ solutions within the automotive industry range from design to production and include applications such as electromechanical design verification, aerodynamic testing, electric battery testing, and production quality monitoring. With today’s automobiles deploying a growing number of electronic systems for active safety features—brake assist, automatic emergency braking, and lane-keeping assist, for example—functional safety testing may become another important growth driver for DAQ solutions. Manufacturers, as specified by the ISO 26262 standard for the functional safety of automotive electronic systems, must ensure their systems will behave properly in the case of a system failure or malfunction. Functional safety testing, enabled by DAQ solutions, will be critical to meeting these specifications.
We expect this segment to achieve modest growth over the next five years, with a much more significant growth rate attainable if manufacturing in nontraditional markets such as the Middle East and Africa continue to increase.
To learn more about this and other consuming industries within the market for DAQ systems and technologies, check out our Data Acquisition Solutions Market Intelligence Program or contact us for more details!