Data Converter Market on a Trajectory to $7.4 Billion by 2028

Posted September 21, 2023 by avinashgogawale14

At a CAGR of 6.0%, the Data Converter Market Size is projected to increase from a value of USD 5.5 billion in 2023 to USD 7.4 billion by 2028.
The Analog-to-Digital Converters and Digital-to-Analog Converters market segments, as well as the High-Speed Data Converters and General-Purpose Data Converters subsegments based on sample rate, provide encouraging growth prospects. The market, which has been examined in terms of North America, Europe, APAC, and RoW, is expected to grow. The Data Converter Market is expected to grow from its current worth of USD 5.5 billion in 2023 to USD 7.4 billion in 2028, representing a respectable Compound Annual Growth Rate (CAGR) of 6.0% from 2023 to 2028. This projected expansion underlines the rising demand for effective data conversion solutions across a range of industries. In order to fulfil the expanding demands of the global market, technological developments and innovation within the data converter domain are being driven by the market's trajectory, which shows a developing requirement for dependable and high-speed data processing.

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The increased need for high-resolution images in scientific and medical applications is one of several crucial aspects that have considerably contributed to the expansion of the data converter market. High-resolution data processing is becoming more and more necessary as technology develops, especially for scientific research and medical imaging, which calls for effective data converters to manage and convert this data effectively. A major factor propelling the market ahead is the rising adoption of technologically sophisticated data collecting systems. High-performance data converters are necessary for modern data gathering systems to ensure accuracy and dependability when converting analogue signals to digital data. Combining these elements demonstrates the crucial part that data converters play in enabling cutting-edge technologies and applications, which in turn drives the market's growth and expansion.

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

During the projected period, it is anticipated that Digital-to-Analog Converters (DACs) will hold the second-largest market share in the data converter industry. Devices can produce high-quality audio by converting digital signals into analogue signals, which is where DACs come in. Many modern products, including computers, smartphones, and tablets, contain these converters, which allow massive amounts of digital data to be converted into analogue signals for higher audio quality. To fulfil the rising need for better audio experiences, DACs are crucial components for professional audio equipment, in-car infotainment systems, and home entertainment systems in the world of consumer electronics. The market for general-purpose DACs is anticipated to grow as a result of the continuing spike in demand for such devices, confirming their sizeable market share in the data converter industry.

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

During the projected period, high-speed data converters are expected to grow significantly and at a faster compound annual growth rate (CAGR). High-speed data converters are essential in communications applications because they allow for the quick and accurate translation of analogue signals to digital signals and vice versa. They operate at sampling rates ranging from 10 MSPS to several GSPS. High-speed data converter vendors should see large prospects as a result of the communications industry's ongoing demand for effective data conversion, particularly in the rapidly developing field of 5G technology. The needs of high-speed communications and Test and Measurement (T&M) applications are met in large part by these converters. The need for high-speed data converters is expected to increase as communications infrastructure develops and businesses work to satisfy the demands of high-speed communications, heralding a significant growth trajectory in the market.

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

Throughout the anticipated period, the communications application segment is expected to rule the data converter market. The continually changing and fiercely competitive communications market requires products that are not just technologically cutting edge but also scalable and affordable. The rapid adoption of 5G technology and the explosion of wireless communication networks like 3G and 4G have accelerated the development of communication infrastructure, including base stations and optical communication devices. In order to meet the changing demands of sophisticated high-performance communications applications, the switch from 4G to 5G has sparked innovation in data converters, needing broader input bandwidth, higher sampling rates, and improved spectral efficiency. Due to the wide signal band coverage of 4G and 5G wireless networks, data converters are essential to the entire communication system in this scenario and play a crucial role. The demand for data converters is being further fueled by the increasing use of high-speed broadband communication equipment, particularly in wireless infrastructure segments like software-defined radio (SDR) and digital repeaters. The increasing need for effective data converters highlights their critical role in enhancing communication technology and satisfying the rising expectations of the contemporary communications industry.

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

During the projection period, North America is anticipated to hold the second-largest market share in the data converter market. Leading manufacturers of automated testing equipment system components, like Teradyne and Roos Instruments, are concentrated in this area. Businesses use Test and Measurement (T&M) technologies extensively to improve the delivery of video, phone, and data services, particularly in the industrial and communications industries in North America. One of the main factors driving the expansion of the data converter market in this region is the rising need for T&M equipment. The application domains of linked solutions and the Internet of Things (IoT) are also spreading across a number of industries as a result of considerable research and development efforts conducted in both academic and industrial contexts. The quickening speed of digitization, together with the widespread use of smart connected devices and ongoing technological breakthroughs, all support the data converter market's robust expansion in North America.

The key players in this market are 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). The players in this market have adopted various strategies to expand their global presence and increase their market shares.

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Last Updated September 21, 2023