Emerging Technologies Shaping the Future of the Data Converter Market

The Data Converter Market Size is projected to rise from USD 5.5 billion in 2023 to USD 7.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.

Pune, 03/05/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

The Data Converter Market Size has significant growth potential. It is expected to rise at a Compound Annual Growth Rate (CAGR) of 6.0%, rising from USD 5.5 billion in 2023 to USD 7.4 billion by 2028.

The increasing need for analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) across a range of industries is one of the causes driving this growth trend. Both general-purpose and high-speed data converters are being widely used in a variety of industries, including consumer electronics, industrial automation, automotive, and telecommunications. Geographically, it is anticipated that market growth would be significantly influenced by North America, Europe, Asia-Pacific, and the rest of the globe. The global proliferation of digitalization and connectivity trends, in conjunction with technological advancements in data converters, are propelling the data converter market's growth over the forecast period.

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The growing need for high-resolution images in the scientific and medical domains is one of the main drivers of the data converter market expansion. Data converters that can precisely convert analogue signals into digital formats are essential as long as sectors like healthcare and research need precise imaging for study, treatment planning, and diagnostics. The market is also being driven by the growing use of technologically sophisticated data collecting systems in a variety of industries. These systems are essential to enabling sophisticated data-driven decision-making processes because they use data converters to transform analogue signals from the actual world into digital data for processing and analysis. 

Digital-to-Analog Converters (DACS) is expected to hold the second-largest share during the forecast period

A crucial part that transforms digital information into analogue signals and allows high-quality audio to be produced in a variety of electronic devices, including computers, tablets, and smartphones, is a digital-to-analog converter, or DAC. Large volumes of digital data must be converted into analogue signals by DACs in order to fully realise the promise of digital audio. This process ensures accurate and clear sound reproduction. DACs are now necessary for converting digital audio signals into analogue formats for playback through speakers or headphones since digital audio sources are widely used in modern gadgets. Consumer desire for high-fidelity audio experiences across a wide range of devices and applications is likely to drive demand for digital audio converters (DACs), from professional audio equipment to in-car infotainment systems and home entertainment systems.

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High-speed data converters to grow at a higher CAGR during the forecast period

With sample rates ranging from 10 MSPS to multi-GSPS, high-speed data converters are essential parts that are widely used in communications applications to quickly and precisely transform analogue signals to digital form and vice versa. These converters are essential to the communications sector, as businesses are always spending money on R&D to create new devices that are specifically designed to satisfy the increasing needs of high-speed communications infrastructure. High-speed data converter manufacturers have a lot of business prospects because of this innovation drive, especially in the communications and test and measurement (T&M) industries. High-speed data converter demand is predicted to increase as the telecoms sector moves closer to the general commercialization of 5G technology. This demand is driven by the necessity for reliable and effective communication systems that can handle high data rates. The increase in demand highlights how important high-speed data converters are to facilitating the smooth transition to next-generation communication networks.

Communications application is expected to hold the largest share of the data converter market during the forecast period

The communications sector is one of the biggest and most dynamic in the world. It is marked by intense competition and a constant need for cost-effectiveness, scalability, and technological innovation. Base stations, optical communication devices, and other infrastructure components have seen a significant increase in demand since the introduction of wireless communication technologies such as 3G, 4G, and LTE. On the other hand, the swift advancement of 5G wireless communications technology is leading the way in the industry's growth and is expected to further increase the demand for data converters globally. The data converter industry is seeing innovation due to the increasing demand for greater spectral efficiency, higher sampling rates, and larger input bandwidth as 4G networks give way to 5G networks. Since 4G and 5G networks cover a large range of signal bands, data converters become essential parts of the communication ecosystem. great-speed data converters are in great demand as a result of manufacturers of network infrastructure and electronics being forced to create high-speed, latency-free solutions to fulfil the demands of sophisticated communications applications. The market for data converters is also being driven by the increasing uptake of different high-speed broadband communication devices, especially in-home and in-building communication systems. High-speed data converters are used in software-defined radio (SDR), digital repeaters, and other vital communication systems within the wireless infrastructure segment. This highlights their vital role in facilitating smooth and effective data transmission across contemporary communication networks.

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North America to hold the second-largest market share during the forecast period

With major companies like Teradyne (US) and Roos Instruments (US) at the forefront, the automated testing equipment system market in North America is quite strong. Test and measurement (T&M) solutions are critical to the region's industries, especially the communications and industrial sectors, since they guarantee the uninterrupted provision of voice, data, and video services. The market for data converters in North America is expected to increase significantly as a result of the increasing demand for T&M equipment. Furthermore, the Internet of Things (IoT) and connected solutions are finding new applications in a variety of industries thanks to massive research and development activities in both academic institutions and business sectors. The quickening rate of digitalization in a variety of industries, together with the rising popularity of smart, connected gadgets and ongoing technological developments, all contribute to the data converter market's explosive expansion in North America.

Data Converter Companies:

• Texas Instruments (US),
• Analog Devices (US),
• Skyworks Solutions, Inc. (US),
• Infineon Technologies AG (Germany),
• STMicroelectronics (Switzerland),
• Qorvo, Inc. (US),
• NXP Semiconductor (Netherlands),
• ON Semiconductor (US),
• Microchip Technology (US),
• Renesas Electronics Corporation (Japan). 

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