The Global Data Converter Market size is expected to reach $7.2 billion by 2028, rising at a market growth of 5.8% CAGR during the forecast period.
The conversion of one dataset into another is known as data conversion. Human intervention is not needed because it is a specific procedure that is largely carried out using the software. The main purposes of data modification are to facilitate interoperability between different data types and to sustain the data by embedding as much information as is practical. Data conversion can be easy or difficult, depending on the environment and the types involved.
The data converters translate voltage values between the continuously varying analog and discrete digital signals, two distinct domains. The need for high-resolution photographs in scientific & medical applications and the rising usage of technologically sophisticated data-collecting systems have fueled the market's expansion.
The development of linked devices and wireless communication networks, such as 5G wireless communication networks, has further propelled the market's expansion. Furthermore, the fourth-generation network with cutting-edge modulation and antenna techniques was ascribed to the desire for better voice and data services, data acquisition systems, and quality. These factors are thought to be driving up the need for data converters since they offer accurate and flexible conversion and essential information about data collection.
A growing number of high-performance data converters are being used in high-performance electronic systems to enhance the design and open new application possibilities. New generations of data converters are being created due to the cutting-edge circuit and system technologies driving the development of state-of-the-art modulators. Additionally, the world's economy, technological advancement, and marketing are just a few new and old aspects that influence current and future trends.
During the pandemic, businesses from various sectors needed enormous data spaces to deploy their activities digitally in virtual space. Demand and supply for data converter across the globe were shocked as a result of the COVID-19 outbreak. According to estimates, the semiconductor sector would experience a drop initially. One of the end-user industries most affected by 3D ICs is the automotive industry, followed by consumer electronics. Also, the lack of movement caused by the required lockdown has decreased sales of consumer electronics and automobile products, lowering the market for 3D ICs.
With a considerable rise in mobile subscribers due to the rollout of 5G, infrastructure that can manage user data requests will need to be constructed. The 5G technology is projected to operate at higher frequency bands, encouraging the development of the small cell network idea and providing high bandwidth for several use cases. High-speed data converters are one of the essential parts of communication transceivers. Therefore, this would present an opportunity for them to construct modern 5G infrastructure. This would further support the market expansion during the projection period.
In the industrial sector, data-collecting systems are essential for making decisions in real-time. Data acquisition systems have transformed from simple processing systems to the key to achieving the full benefits of automation as businesses move towards a data-centric approach in operations and production to maintain a competitive edge while enabling users to access the data anytime, regardless of location. The primary driver of the data converter market's expansion has been end-users switching from conventional data acquisition (DAQ) systems to computer-based ones. The rising use of cutting-edge data collection systems will further support market growth in the upcoming years.
The interface between the analogue and digital worlds is created by the ADC, one of the crucial blocks forms. Energy efficiency is typically a primary design concern to extend the network's lifespan because batteries or energy-harvesting devices fuel these sensor nodes. Integrating an ADC inside the controller reduces the number of components, cost, and power consumption in low-power data acquisition (DAQ) systems. However, the overall power consumption of DAQ systems could rise due to this strategy. Low-power data converters are thus a significant concern for data converter makers and could have a substantial impact on the future growth of the market.
By type, the data convertor market is segmented into analog-to-digital convertor (ADCs), and digital-to-analog convertors (DACs). The digital-to-analog converters (DACs) segment covered a considerable revenue share in the data converter market in 2021. A system that transforms a digital signal into an analogue signal is known as a digital-to-analog converter. The DAC is the key to unlocking digital audio, and it may be found in many computers, smartphones, and tablets. It translates massive amounts of digital data into analogue impulses, yielding high-quality audio. To convert digital audio to an analog signal, most contemporary gadgets need DACs.
On the basis of sampling rate, the data convertor market is fragmented into high-speed data convertor, and general-purpose data convertor. The high-speed data convertor segment dominated the data converter market by generating maximum revenue share in 2021. A high-speed data converter operates at a sampling rate of 10 MSPS to several GSPS. Because they can correctly and quickly convert analog signals to digital form, these converters are frequently used in communications applications. High-speed data converter suppliers may have more opportunities as infrastructure-supporting companies in the communications industry increase their R&D capabilities to create new equipment to fulfill high-speed communications demands.
Based on application, the data convertor market is divided into communication, consumer electronics, industrial, medical, test & measurement and automotive. In 2021, the medical segment garnered a significant revenue share in the data converter. The medical application involves the use of imaging and monitoring devices. General-purpose data converters are necessary for cardiac, hemodynamic, and respiratory monitoring devices. On the other hand, the operation of imaging devices like CT scanners, MRI scanners, and ultrasound systems may necessitate the use of high-speed data converters, which is one of the major factors propelling the growth of the high-speed data converter market.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 4.9 Billion |
| Market size forecast in 2028 | USD 7.2 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 5.8% from 2022 to 2028 |
| Number of Pages | 229 |
| Number of Table | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Sampling Rate, Application, Type, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the data convertor market is analyzed across North America, Europe, Asia Pacific and LAMEA. The Asia Pacific region led the data converter market with the highest revenue share in 2021. Opportunities to grow the data converter business will undoubtedly be present in the region's numerous growing economies. Asia Pacific is home to a large number of OEMs and manufacturers of semiconductor devices and products. Favorable legislative frameworks for the clearance of cutting-edge semiconductor technology and the saturation of the market in Western nations both increase companies' ambition to expand their businesses in the Asia Pacific, particularly in China.
Free Valuable Insights: Global Data Converter Market size to reach USD 7.2 billion by 2028
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Analog Devices, Inc., NXP Semiconductors N.V., Texas Instruments, Inc., ON Semiconductor Corporation, Rohm Co., Ltd., Skyworks Solutions, Inc., Infineon Technologies AG, Microchip Technology Incorporated, Qorvo, Inc., and Renesas Electronics Corporation.
By Sampling Rate
By Type
By Application
By Geography
The global Data Converter Market size is expected to reach $7.2 billion by 2028.
Data converters could be used to build cutting-edge 5G infrastructure are driving the market in coming years, however, The creation of data converters with low power requirements restraints the growth of the market.
Analog Devices, Inc., NXP Semiconductors N.V., Texas Instruments, Inc., ON Semiconductor Corporation, Rohm Co., Ltd., Skyworks Solutions, Inc., Infineon Technologies AG, Microchip Technology Incorporated, Qorvo, Inc., and Renesas Electronics Corporation.
The Analog-to-Digital Converters (ADCs) segment acquired maximum revenue share in the Global Data Converter Market by Type in 2021 thereby, achieving a market value of $5.1 billion by 2028.
The Asia Pacific market dominated the Global Data Converter Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.8 billion by 2028.
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