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| Data Converters Market |
Data converters play a vital role in digital signal processing applications by converting analog signals to digital and vice versa. They find wide usage in various applications including consumer electronics, industrial, automotive, healthcare, and communications among others. Growing popularity of smartphones, wearables, smart home appliances and other connected devices is fueling the demand for data converters. Need for higher accuracy, precision and speed of data conversion is also driving innovations in data converter ICs.
The Global Data Converters Market is estimated
to be valued at US$ 9.94 Bn in 2024 and is expected to exhibit a CAGR of 7.1%
over the forecast period 2024 to 2031.
Rising penetration of Internet of Things (IoT)
is a key factor propelling the demand from various end-use industries. Data
converters seamlessly interface analog sensors with digital systems enabling
plethora of real-time monitoring applications in sectors like manufacturing,
healthcare and more. Potential opportunities lie in development of power
efficient mixed-signal System-on-Chip (SoC) solutions for next-gen consumer
devices.
Key Takeaways
Key players operating in the Data
Converters Market Size are Analog Devices, Inc., Caelus Technology,
Digikey, GlobalSpec, Infineon Technologies AG, Microchip Technology Inc., Omni
Design, Renesas, ROHM CO., LTD., STMicroelectronics, Synopsis, Teledyne
Technologies Incorporated, Texas Instruments, Faraday Technology Corporation,
Asahi Kasei Microdevices, Cirrus Logic. Data converter giants like Analog
Devices and Texas Instruments are consistently investing in R&D to develop
cutting-edge product portfolio and cater to evolving industry requirements.
Growth opportunities exist in sectors witnessing expansion of IoT deployments
like industrial automation, smart cities, transportation, and healthcare.
Converter companies are expanding their global footprint through strategic
partnerships and acquisitions to tap into overseas markets and leverage
low-cost manufacturing locations in Asia. For instance, Renesas expanded its
converter business through acquisition of Integrated Device Technology in 2020.
Market Drivers
- Growing demand for high speed data converters from consumer electronics like
smartphones, laptops, cameras owing to rise in multimedia content consumption
and connectivity.
- Increasing usage of precision data converters in industrial automation,
factory automation, process industries for real-time data acquisition and
monitoring applications.
Market Restraints
- Presence of alternative technologies like digital signal processing and field
programmable gate arrays acting as substitutes to traditional data converters.
- High cost associated with development of cutting-edge data converter ICs
hampering adoption in price sensitive applications.
Segment Analysis
The Data Converter market can be segmented into Analog to Digital Converters
(ADCs) and Digital to Analog Converters (DACs). ADCs account for the largest
share as they are widely used in applications such as industrial
instrumentation, audio and video processing, scientific measurement devices.
Within ADCs, successive approximation registers(SAR) based converters dominate
owing to their better performance, accuracy, resolution and cost effectiveness
compared to other types of ADCs such as flash and delta-sigma converters.
Global Analysis
North America accounts for the largest share in the data converter market
currently owing to strong presence of semiconductor companies in the region and
rapid adoption of advanced electronics in industries. The region is expected to
continue its dominance during the forecast period as well. Asia Pacific region
is expected to grow at the fastest pace due to growing electronics
manufacturing industry and expanding automotive sector in major countries such
as China, India, Japan and South Korea. Countries in Asia Pacific such as China
and India are anticipated to become major markets for data converters with
increasing local manufacturing. Advancements in wireless communication
technologies and increasing number of connected devices would aid the growth of
the market across all regions globally. Key players are focusing on developing
highly integrated converters with higher speed and resolution to facilitate
emerging applications.
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Converters Market
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