With 6.0% CAGR, Data Converter Market Growth to Surpass USD 7.4 Billion

According to MarketsandMarkets, the data converter market size is valued at USD 5.5 Billion in 2023 and is anticipated to be USD 7.4 Billion by 2028; growing at a CAGR of 6.0% from 2023 to 2028. Factors such as the Increasing adoption of technologically advanced data acquisition systems, and growing demand for high-resolution images in scientific and medical applications are driving the growth of the market during the forecast period.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=26991458

Based on the type of data converter market has been segmented into Analog-to-Digital Converters (ADCs) and Digital-to-Analog Converters (DACs). The Analog-to-Digital Converters (ADCs) segment is expected to have a higher growth rate during the forecast period. Advancements in technologies for communications applications and digital operations in industrial applications are the major factors for the growth of the ADC market.

Based on the sampling rate the data converter market has been segmented into High-speed data converters and General-purpose data converters. High-speed data converters accounted for the largest share of the data converter market in 2028. High-speed data converters are commonly used for communications and T&M applications. The increasing development toward the commercialization of 5G technology is likely to be a significant opportunity for the communications application, which is anticipated to drive the high-speed data converter market.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=26991458

Based on the applications the data converter market has been segmented into Communications, Consumer Electronics, Industrial, Medical, Test & Measurement, and Automotive. The data converter market for medical applications is expected to witness the highest CAGR during the forecast period. The increasing demand for advanced medical devices, owing to the rising importance of medical electronics in patient tracking as well as other monitoring activities, has played a prominent role in the growth of the medical electronics market worldwide. High adoption of portable and compact medical devices is expected to propel the market's growth for general-purpose data converters, while high-resolution medical imaging and diagnostic equipment would create opportunities for high-speed data converter providers.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.