Data Converter Market to Witness Huge Growth by Premium Market Insights

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.

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Analysis of the Top Market Players:

1. Texas Instruments Inc
2. STMicroelectronics NV
3. Renesas Electronics Corp
4. ROHM Co Ltd
5. Analog Devices Inc
6. Cirrus Logic Inc
7. Asahi Kasei Microdevices Corp
8. Microchip Technology Inc
9. On Semiconductor Corp
10. Teledyne Technologies Inc

In this report, the market has been segmented on the basis of:

Type
• ADC and DAC

Resolution
• 10 Bit
• 12 Bit
• 14 Bit
• 16 Bit

Rate of Converter
• Upto 50 Msps
• 51 to 100 Msps
• 101 to 200 Msps
• 201 to 500 Msps
• 501 Msps to 1 Gsps
• Above 1 Gsps

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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.

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This release was published on openPR.