Data Converters Market To Hold a High Potential for Growth by 2027

The market for Data Converters is increasing due to high adoption and integration of smart devices with Data Converters. The smart data converters helps in managing additional system functions, and allow designer to use most cost effective data processors along with making programming easier to improve overall system performance.

It is expected in coming year or two the quick expansion of advanced sensor in parallel with converter core technology development and the continuous movement towards adjustable power features in the data converter are helping this data converter market to grow.

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The data converters are increasingly being adopted for consumer electronics devices such as smartphones and tablets for functions such as network signal processing, image processing, video calling and others. Presently, various industries are working towards creation of low power consumption data converters due to rising need for low power consumption data converters.

Data Converters Market: Drivers and Challenges

The major factor driving the adoption of data converters is the increasing usage of smart devices among individuals. Users are demanding high speed data converters which can be employed in electronic warfare. Moreover, users are adopting low power consuming data converters as these helps in saving battery life of smart devices.

The key challenge for data converters is the lack of knowledge about the usage of it in growing smart devices. Companies are using these data converters for conversion of data for basic functions in smart devices such as video calling, video streaming, image capture and touch sensing. The smart device manufacturers in developing regions are not using these data converters due to less availability and lack of knowledge.

Data Converters Market: Segmentation

Segmentation on the basis of type:

High Speed Data Converter
Standard Data Converter
Segmentation on the basis of Industry:

Consumer Electronics
Automotive
Manufacturing
Others
Key Developments:

In March 2016, MegaChips Corporation has selected Data Converter IP, a solution from S3 group based Magellan portfolio. These high speed data converters provide optimal performance targeted for highly integrated connected consumer SoC’s, such as those requiring LTE-A, WiFi (802.11x), DVB or next generation DSL connectivity.

In September 2016, ABB, a data converter company has launched power converter diagnostic tool for controlling higher uptime. The software tool helps optimize service and maintenance costs over the power converter’s life cycle and reduces costly emergency repair. The tool continuously monitors the status of the power converter system and respondswith predefined diagnostic actions such as data collection, processing and reporting when changes occurs.

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Regional Overview

North America is holding the largest market share currently for Data Converter market due high adoption of smart devices among enterprises in U.S. to improve the functions of smart devices such as video calling, HD calling and others. Companies are also working towards the enhancement of Data Converters solutions with the partnerships in this market to increase market opportunities. In Europe region, the market for Data Converters is witnessing high growth rate due to presence of large number of smart devices service providers on real time.

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This release was published on openPR.