Press release
Data Converter Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033
Data Converter Market Overview
The Business Research Company presents an extensive market research report on the Data Converter Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The data converter market size has grown strongly in recent years. It will grow from $4.44 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to expansion of mobile and consumer electronics, rise of internet of things (IoT), demand for high-performance computing, increasing bandwidth requirements, automotive electronics evolution.
The data converter market size is expected to see strong growth in the next few years. It will grow to $6.91 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to emergence of edge computing, rapid growth in electric vehicles (EVs), integration in advanced medical devices, focus on energy efficiency. Major trends in the forecast period include 5G technology implementation, technological convergence, advancements in communication technologies, integration of high-speed data converters, rise of wideband and software-defined radio (SDR) applications.
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Key Market Players:
Major companies operating in the data converter market report are Continental AG, Mitsubishi Electric Corp., Sumitomo Electric Industries Ltd., Asahi Kasei Corporation, Texas Instruments Incorporated, TE Connectivity Ltd., STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors NV, Renesas Electronics Corporation, Amphenol Corp., Analog Devices Inc., Semiconductor Components Industries LLC, Microchip Technology Inc., Skyworks Solutions Inc., Synopsys Inc., Qorvo Inc., BorgWarner Inc., ROHM Semiconductor Co. Ltd., Vishay Intertechnology Inc., Maxim Integrated Products Inc., Diodes Incorporated, Microsemi Corporation, Cirrus Logic Inc., Dialog Semiconductor plc, Silicon Laboratories Inc., Knowles Electronics LLC, Semtech Corp., Faraday Technology Corporation, DATEL Inc.
Market Drivers:
The growing demand for high-resolution images in scientific and medical applications is expected to propel the growth of the data converter market. High-resolution images are used in medical image processing. Medical image processing is the use and investigation of 3D image files of the human body, often collected from a Computed Tomography (CT) or Magnetic Resonance Imaging (MRI) scanner, to diagnose disorders, guide medical procedures such as surgery planning, or for research reasons. The data converter plays a vital role in meeting the demand for medical imaging devices in terms of image quality, pixel density, accuracy, linearity, and noise. According to GE Healthcare, medical imaging accounts for more than 90% of healthcare data. Therefore, the increasing usage of high-resolution imaging devices in medical applications outfitted with data converters is driving the data converter market growth.
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https://www.thebusinessresearchcompany.com/report/data-converter-global-market-report
The data converter market covered in this report is segmented -
1) By Type: Analog-To-Digital Converters, Digital-To-Analog Converters
2) By Sampling Rate: High-Speed Data Converters, General-Purpose Data Converters
3) By Rate Type: 1Gsps To 5Gsps, 5Gsps To 200Gsps
4) By Application: Communications, Automotive, Consumer Electronics, Industrial Process Control And Automation, Medical, Testing And Measurement, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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