data converter Market

The data converter market size was valued at US$ 5.36 billion in 2022 and is expected to reach US$ 10.06 billion by 2030; it is estimated to record a CAGR of 8.2% from 2022 to 2030.

The report includes growth prospects owing to the current data converter market trends and their foreseeable impact during the forecast period.

Europe accounted for the third largest data market share after APAC in 2022. The huge presence of data converter manufacturers across the region is one of the factors contributing to the growth of the market in Europe. NXP Semiconductors and STMicroelectronics are among the major players operating in the region. Additionally, the rising demand for consumer electronic devices in Europe bolsters the need for data converters across the region. In November 2023, BTECH Germany (One of Germany's leading consumer electronics and appliance companies with a global presence) unveiled a range of bespoke home appliances and consumer electronic products, which the company says are all carefully designed for the Nigerian market. All these factors contribute to the data converter market growth in Europe.

The data converter market in APAC is expected to grow at the highest CAGR during the forecast period. China and India have many domestic manufacturers of data converters, which are boosting the growth of the APAC market. Also, the growing telecom, automotive, and consumer electronics sectors in APAC and rising investments by the governments in the expansion of the semiconductor industry in the region boost the regional data converter market growth.

Pertaining to the fact that data converters have their usage in the industrial sector, countries such as China, the US, Japan, Germany, India, South Korea, Italy, France, the UK, and Indonesia persist with an opportunity to witness more demand for the same. The mentioned countries are amongst the top manufacturing countries across the globe. Favorable government support for strengthening the industrial sector, growing economy, and increasing technology integration in systems used in industrial plants are among the factors contributing towards positioning the countries above in the top list. The growing industrial sector is anticipated to provide lucrative business opportunities for data converter companies to address more industrial requirements.

The growing industrial sector is one of the key factors assisting the growth of the data converter market share of MEA and SAM. The expanding consumer electronics industry propels the need for data converters in consumer electronics such as audio/video devices, cell phones, PLCs, digital multimeters, and CMOS image sensors for mobile applications. Further, growing demand for communication, 5G, RADAR processing, medical imaging, and ADAS systems is expected to generate lucrative business opportunities for data converter market players during the forecast period.

Data Converter Market Analysis of Segments:

The "data converter market analysis" has been carried out by considering the following segments: type, resolution, rate of converter, and application. Based on type, the market is bifurcated into ADC and DAC. By resolution, the market is segmented into 10 bit, 12 bit, 14 bit, 16 bit, and others. The data converter market, based on rate of converter, is segmented into up to 50Msps, 51Msps to 100Msps, 101Msps to 200Msps, 201Msps to 500Msps, 501Msps to 1Gsps, and above 1Gsps. By end user, the market is segmented into automotive, communications, consumer electronics, industrial, medical, and others.

Data Converter Market Competitive Landscape and Key Developments

The data converter market report consists company profiling of major players such as Asahi Kasei Microdevices Corporation; Analog Devices, Inc.; CIRRUS LOGIC, INC.; Microchip Technology Inc.; Semiconductor Components Industries, LLC; ROHM CO., LTD.; Renesas Electronics Corporation; STMicroelectronics N.V; Texas Instruments Incorporated; and Teledyne Technologies Inc. Several other essential data converter market players were analyzed to get a holistic view of the market and its ecosystem. The data converter market forecast can help stakeholders plan their growth strategies.