The latest report by IMARC Group, titled “Data Converter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global data converter market report. The global market size reached US$ 5.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
A data converter is an electronic component that changes analog data into digital format or vice versa. The analog-to-digital converter (ADC) interface unit deals with the conversion of analog signals into digital signals, while the digital-to-analog converter (DAC) converts digital signals back to analog signals. For instance, the extensive use of data converters in computers requires ADCs to convert signals into a format that can be read. In addition, modems also use DACs to convert digital signals into analog signals for transmission over telephone lines. It uses data efficiently, saves time, and provides easy access to important information which is interpreted, reviewed, and customized. It also simplifies complex information into simple and eliminates redundant information and application. As a result, data converters are widely adopted in various industrial verticals, such as communications, medical, testing and measurement, and consumer electronics sectors.
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Data Converter Market Trends and Drivers:
The market is primarily driven by the rising demand for data converters in several industrial sectors, such as industrial process control, automation, and automotive industries. In addition, the widespread adoption of data converters in the aerospace and defense sectors in electronic warfare, communication systems, and defense vehicles to convert and transmit signals are contributing to the market growth. Moreover, the incorporation of the Internet of Things (IoT) with connected devices represents another major growth-inducing factor. Additionally, the emergence of wireless communication networks, such as fourth-generation (4G), fifth-generation (5G), and long-term evolution (LTE), are accelerating the product adoption rate. In line with this, the escalating demand for data converter in electronics sectors with numerous smart devices such as smartphones, laptops, and tablets for improving image processing, touch sensitivity, and video calling is influencing the market growth. Apart from this, the data converter market is growing at different rates in numerous regions, with the Asia Pacific region being one of the largest data converters markets due to the widespread adoption of automation in the manufacturing industries. Moreover, the industry is expected to face competition in the forthcoming years as various key players are implementing competitive strategies to sustain their presence in the market. For instance, in May 2022, Analog Devices in the U.S introduced the next generation of 16 to 24-bit, ultra-high precision successive approximation register (SAR) analog to digital converters (ADCs), simplifying the complex process of designing ADCs for industrial instrumentation and healthcare applications. Furthermore, rapid digitalization, the increasing adoption of technologically advanced data acquisition systems, new product launches, and mergers and acquisitions (M&A) among key market players are creating a positive market outlook. For instance, in October 2020, Microchip Technology introduced the acquisition of New Zealand-based Tekron international limited, allowing it to expand its customer base in the expanding smart energy and industrial markets.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Analog-to-Digital Converters
- Digital-to-Analog Converters
Breakup by Sampling Rate:
- High-Speed Data Converters
- General-Purpose Data Converters
Breakup by Application:
- Communications
- Automotive
- Consumer Electronics
- Industrial Process Control and Automation
- Medical
- Testing and Measurement
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitors Landscape with Key Players:
- Analog Devices Inc.
- Asahi Kasei Microdevices Corporation
- Datel Inc. (Murata Manufacturing)
- Fujitsu Ltd.
- IQ-Analog Corporation
- Maxim Integrated
- Microchip Technology Inc.
- NXP Semiconductors N.V.
- ON Semiconductor
- Renesas Electronics Corporation
- STMicroelectronics
- Synopsys Inc.
- Texas Instruments Incorporated
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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