The Growing Data Converters Market is driven by Surging Demand for Analog-to-Digital Conversion
The data converters market enables the conversion of analog signals to digital signals and vice versa. Data converters such as analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) are essential for real-time signal processing applications across various industries. Data converters facilitate integration, interoperability and connectivity between analog and digital systems in applications of measurement, control, computation and communication. ADCs are extensively used for monitoring applications across industrial sensors and equipment. On the other hand, DACs enable recreation of analog signals for various output applications.
The global data converters market is estimated to be valued at US$ 9.94 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Data Converters Market Size are Analog Devices, Inc., Caelus Technology, Digikey, GlobalSpec, Infineon Technologies AG, Microchip Technology Inc., Omni Design, Renesas, ROHM CO., LTD., STMicroelectronics, Synopsis, Teledyne Technologies Incorporated, Texas Instruments, Faraday Technology Corporation, Asahi Kasei Microdevices, Cirrus Logic. Rising industrial automation and focus on Industry 4.0 is accelerating demand for high performance ADCs and DACs across myriad industrial sensors and control equipment. Moreover, surging adoption of connectivity solutions such as Internet of Things (IoT) and industrial internet is further catalyzing market growth. The data converters market is also expanding globally with growing investments in manufacturing hubs across Asia Pacific and Middle East & Africa.
Market Drivers
One of the key drivers for the data converters market is surging demand for analog-to-digital conversion. Rapid transition from analog to digital technologies is increasing the requirement for ADCs across various industries. Emergence of autonomous vehicles and smart grid infrastructure is significantly propelling the demand. Furthermore, proliferation of cloud computing and edge computing applications has augmented the need for high-speed data conversion solutions. Rising investments by established players to develop advanced data converters with improved specifications will further augment the market growth over the forecast period.
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