With 8.28 Bn, Data Converter Market to reach 8.4% of CAGR by 2028

Data Converter Market Size & Growth Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (DAC and ADC), Sampling Rates (High Speed Converters and General/Low Speed Converters), Application (Medical, Industrial, Communications, Consumer Electronics, Automotive, and Others), Resolution (10-14 bit, Above 14-20 bit, and Above 20 bit), and Rate of Converter (Below 100Msps, 100-500Msps, Above 500Msps-1Gsps, and Above 1Gsps-3Gsps)

Data converters provide precise and dependable conversion performance in different applications, including communications, energy, healthcare, instrumentation and measurement, motor and power control, industrial automation, and aerospace & defense. With the extended reach of smartphones worldwide, the number of smartphone users is expected to rise by 7.7 billion by 2027. A surge in demand for smartphones will eventually boost the sales of smartphone components, including analog-to-digital converters (ADCs), in the coming years. In December 2021, Texas Instruments (TI) launched the smallest 24-bit wideband ADC that delivers industry-leading signal-measurement precision at wider bandwidths than competing ADCs. The ADS127L11, the newest product in TI's portfolio of precision wideband ADCs, achieves ultra-precise data acquisition in a 50% smaller package, significantly optimizing power consumption, resolution, and measurement bandwidth for a wide range of industrial systems.

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Analog Devices, Inc., Texas Instruments Incorporated; NXP Semiconductors; STMicroelectronics; and ROHM CO., LTD. are a few of the key data converter market players. In addition, several other important market players were studied and analyzed during this study to get a holistic view of the market and its ecosystem.

Strategic Insights:
The data converter market players mainly focus on developing advanced and efficient products.

- In 2022, Analog Devices, Inc. launched new portfolio of next-generation 16-to-24-bit, ultrahigh-precision SAR ADCs that simplify the complex process of designing ADCs into instrumentation, industrial, and healthcare applications. The new high-performance SAR ADC family features the patented Easy Drive technology and versatile Flexi-SPI serial peripheral interface (SPI) of ADI that solve system design challenges and broaden the selection of directly compatible companion products.
- In 2022, STMicroelectronics launched a new series of radiation-hardened power, analog, and logic ICs in low-cost plastic packages to provide important functions for addressing requirements of low Earth orbit satellites' electronic circuitry. The first nine devices in this series include a data converter, a voltage regulator, an LVDS transceiver, a line driver, and five logic gates, which have already been released; these products are used in power generation and distribution systems, on-board computers, telemetry star trackers, and transceivers.

Impact of COVID-19 Pandemic on Data Converter Market

The COVID-19 pandemic posed major challenges for all sectors in the MEA in 2020 and mid-2021. The data converter market experienced a minor hit at the beginning of the pandemic due to the disrupted supply chains and hindered the growth of the automotive, consumer electronics, and IT & telecommunications industries. The sales of electronic devices increased gradually due to the WFH models, leading to a rise in the adoption of wireless communication solutions in the region. Many industries shifted their operational activities from physical offices to virtual spaces, which triggered the deployment of cloud technologies and boosted data usage in various industries.

Additionally, rising demand for consumer electronic devices in the Canada is boosting the data converter market growth. The use of smartphones, tablets, television, personal computers, and other devices is increasing tremendously. All the above devices demand high-resolution images which become simpler using the data conversion technology which is driving the market growth. Also, IoT and connected devices use data conversion technology for tracking and monitoring purposes of vital assets. The goods transporting companies use the technology for locating the vehicle and tracking the status of machines and containers in turn, fueling the data converter market's expansion.

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