New York, April 20, 2023 (GLOBE NEWSWIRE) -- The data converter market size is projected to surpass around USD 9.0 billion by 2032, and it is poised to reach a CAGR of 6.0% from 2023 to 2032. It is projected to grow at a valuation of USD 5.1 billion in 2022.
Data converters are electronic devices that convert analog signals into digital signals or vice versa. Data converters are used in a variety of applications, such as consumer electronics, medical equipment, automatic systems, telecommunication, and industrial automation.
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Key Takeaway:
- By type, the analog-to-digital segment generated the largest revenue share of 64% in 2022.
- By sampling rate, the high-speed data converter segment has dominated the market, and it accounted for the most prominent global revenue of 70% in 2022.
- By industry vertical, the consumer goods & electronics segment was dominant in the market, with the largest market revenue share of 32% in 2022.
- In 2022, Asia Pacific dominated the market with the highest revenue share of 35%.
Data converters include a wide variety of products, such as analog-to-digital converters (ADCs), digital-to-analog converters (DACs), and mixed-signal converters. Data converters can be standalone hardware devices or software programs integrated into larger systems. They play an important role in the data transformation process and are often used in data-centric industries such as telecommunication, healthcare, and finance.
Factors affecting the growth of the data converters market
There are several factors that can affect the growth of the data converter market. Some of these factors include:
- Rising demand for DACs: DAC helps to improve audio quality by converting digital audio files into analog sound waves. This method is one of the fastest methods of conversion, which allows the conversion of binary inputs into an analog form easily.
- Increasing demand for electronic devices and technological advancements: With the emergence of the Internet of Things (IoT) and the rising adoption of smartphones are propelling the market growth. Also, developments in advanced technologies such as 5G, AI, and autonomous vehicles are propelling the demand for high-speed data converters.
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Market Growth
The rising adoption of automation in various industries, such as energy manufacturing and transformation, also drives the demand for data converters that enables faster and more accurate data processing. Increasing adoption of wireless technologies such as 5G, the Internet of Things (IoT), and Artificial Intelligence (AI) is propelling the demand for data converters to support technologies. Consumers worldwide are shifting towards the adoption of renewable energy sources such as solar and wind power. Data converters help in efficient power conversion and management, fueling market growth.
Regional Analysis
The data converters market was dominated by Asia Pacific, which acquired the most significant revenue share of 35% in 2022. The growth of the region is propelled by the increasing adoption of automation in manufacturing industries. IT & telecommunication industries are increasingly adopting analog-to-digital data converters propelling market growth. North America is expected to show significant growth during the forecast period due to increasing demand for data converters in healthcare industries.
Competitive Landscape
Texas Instrument (TI) is the leading key player in the data converter market, one of the largest semiconductor manufacturers known for its analog and mixed-signal integrated systems. Analog Devices Inc. is another leading semiconductor company that offers a broad portfolio of data convertors for different markets. The major key players in the data converter market are focusing on manufacturing energy-efficient, cost-effective analog devices to obtain a competitive edge in the market. The top key players in the global data converter market include Maxim Integrated Products Inc., Microchip Technology Inc., STMicroelectronics N.V., and Cirrus Logic Inc.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 5.1 Billion |
| Market Size (2032) | USD 9 Billion |
| CAGR (from 2023 to 2032) | 6.0% |
| Asia Pacific Revenue Share | 35% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The demand for high-speed and high-resolution data converters is increasing in various industries such as telecommunication, healthcare, and automotive industries, which is a primary factor driving the market growth. Data converters play an important role in the automotive industry. They perform the function of identifying different engine statuses to radar/LIDAR, which enables Automotive Driver Assistance Systems (ADAS). Analog-to-digital and digital-to-analog systems provide an interface for a multitude of analog sensors to automotive systems-on-chips (SoCs).
Market Restraints
The costs of data converters that offer high resolution and the sampling rate are very high, which limits the adoption of data converters in consumer electronics. Also, data converters are complex devices that require significant design expertise and engineering resources to develop. Thus the lack of skilled professionals and the complexity of data converters restrain the market growth.
Market Opportunities
The rising adoption of smartphones with the emergence of 5G network services is driving the demand for ADAs that can handle data rates of several gigabits per second. In addition, the demand for data converters with low power consumption is increasing due to increasing concerns regarding energy efficiency and sustainability. Thus, manufacturers in the market are focusing on developing low-power ADAs and DACs that can operate on low voltage and consume less power. Furthermore, rising demand for autonomous vehicles' advanced driver assistance systems boosts the demand for data converters that can handle high-bandwidth data streams generated by these systems. Factors such as increasing demand for high-quality audio & video, rising growth of wireless communication networks, adoption of automation, and the Internet of Things are expected to drive the market in the forecast period.
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Report Segmentation of the Data Converter Market
Type Insight
Based on type, the analog-to-digital segment was dominant in the market, with the largest market revenue share in 2022. This system plays an important role in control and monitoring applications because most sensors, such as temperature, force, and pressure sensors, produce analog output voltages that a microcontroller cannot read without analog-to-digital converters. This converter requires low supply voltage, low power consumption, high sampling rate, circuit, and easy integration on a chip; thus, they have high demand in the electronics and automotive industries.
Sampling Rate Insight
Based on the sampling rate, the high-speed data converter segment was dominant in the market, with the largest market revenue share in 2022. The growth of this segment is attributed to a high sampling rate, higher performance, low power consumption, and better integration in fine lithography CMOS processes. High-speed data converters are capable of handling signals with bandwidths of 10MHz to more than 1GHz.
Industry Vertical Insight
On the basis of industry vertical, the consumer goods & electronics segment was dominant in the market, with the largest market revenue share in 2022. Data converters are increasingly adopted for consumer electronic devices such as tablets, laptops, and mobiles for the functions such as image processing, network signal processing, video calling, and others.
Recent Development of the Data Converter Market
- In July 2020, Analog Devices Inc. acquired Maxim Integrated Products Inc., which is a leading company in the manufacturing of analog devices.
- In October 2020, Microchip Technology announced the acquisition of New Zealand-based Tekron International Limited.
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Market Segmentation
By Type
- Analog-to-Digital Converters
- Digital-to-Analog Converters
By Sampling Rate
- High-Speed Data Converters
- General-Purpose Data Converters
By Industry Vertical
- IT & Telecommunications
- Manufacturing
- Consumer Goods & Electronics
- Media & Entertainment
- Test & Measurement
- Healthcare & Life Sciences
- Other Industry Verticals
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- Analog Devices Inc.
- Texas Instruments Inc.
- Maxim Integrated Products Inc.
- Microchip Technology Inc.
- STMicroelectronics N.V.
- Cirrus Logic Inc.
- Renesas Electronics Corporation
- NXP Semiconductors N.V.
- ON Semiconductor Corporation
- ROHM Semiconductor
- Other Key Players
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- Analog-digital Converters Market is expected to grow at a CAGR of roughly 5.60% over the next nine years and will reach USD 1841.22 million in 2028, from USD 3175.04 million in 2018.
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