(MENAFN- PR Newswire) DUBLIN, Feb. 14, 2023 /PRNewswire/ -- The 'data converter market by type (analog-to-digital converters, digital-to-analog converters), sampling rate (high-speed data converters, general-purpose data converters), application and region (north america, europe, apac, row) - global forecast to 2028' report has been added to
ResearchAndMarkets.com's offering.
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 Rising demand for test & measurement (T&M) solutions by end users and the growing demand for high-resolution images in scientific and medical applications are driving the growth of the market during the forecast period.
Rising demand for test & measurement (T&M) solutions by end users
In the communications application, advanced modulation and antenna techniques have improved the quality of voice and data services. Networking components such as connectors, repeaters, and routers must be tested thoroughly, for which many testing and measurement (T&M) instruments, such as signal generators, logic analyzers, cable testers, network analyzers, and RF signal analysis equipment, are required. These T&M equipment widely use ADCs and DACs for converting the signals. This increasing use of data converters in communication testing equipment is driving the ADC and DAC market.
In addition, for industrial applications, T&M equipment are used to measure and monitor parameters such as product quality and safety, current, voltage, frequency signal, pressure, and temperature by several telecommunication service providers, mobile device manufacturers, network equipment manufacturers, and telecommunication service providers.
Furthermore, process and discrete industry players perform different types of analyses such as vibration monitoring, corrosion monitoring, motor current signature analysis, metrology and calibration, and quality control to provide their customers with high-quality and high-performing services, which requires communication T&M solutions. Thus, the rising demand for T&M equipment drives the growth of the data converter market.
Growing demand for high-resolution images in scientific and medical applications
In scientific and medical applications, the diagnosis is made with the help of images captured through computed tomography (CT), X-radiation (X-ray), and magnetic resonance imaging (MRI) scanners. These images are stored in the high-resolution digital format for which analog-to-digital converters are used.
The medical industry has witnessed significant advancements in imaging technology. The need for digital image acquisition and processing is growing with advancements in imaging techniques. The data converter is an essential part of the networked imaging system.
Special-purpose high-speed data converters are required for analog-to-digital data conversion of images. The amplifier, data converter, interface, power management tool, digital signal processor, microprocessor, and microcontroller are the basic components required for the analog-to-digital conversion of images.
Datel (UK) provides analog-to-digital converters for the medical industry to give high-resolution, fully tested, and complete package solutions. Thus, the increasing demand for high-resolution images in scientific and medical applications is a major driving factor for the growth of the data converter market.
APAC is the fastest-growing region in the data converter market
The growing medical tourism in developing countries in Asia Pacific, such as China and India, is expected to provide new opportunities for advanced and sophisticated medical electronic device manufacturers during the forecast period.
Developments in medical device manufacturing would assist the data converter market in Asia Pacific for medical applications to grow at the highest CAGR during forecast period.
Competitive landscape
Some of the key data converter providers are Analog Devices, Inc. (US), Texas Instruments (US), Skyworks Solution (US), STMicroelectronics (Switzerland), and Qorvo, Inc. (US).
Premium Insights
Demand for Data Converters in Communications Applications Drives Market Growth Adcs to Hold Larger Market Share During Forecast Period China and Communications Applications Expected to Hold Largest Share of Asia-Pacific Data Converter Market in 2028 Data Converter Market in India to Grow at Highest CAGR During 2023-2028 China to Dominate Data Converter Market During Forecast Period Communications Applications Expected to Hold Largest Size of Data Converter Market During Forecast Period
Market Dynamics
Drivers
Rising Demand for Test & Measurement (T&M) Solutions by End-users Growing Demand for High-Resolution Images in Scientific and Medical Applications Increasing Adoption of Technologically Advanced Data Acquisition Systems
Restraints
Integration of RF Data Converters into Fpga and System-On-Chip (Soc)
Opportunities
Potential Use of Data Converters in Developing Advanced 5G Infrastructure Rapid Adoption of IoT Devices and Data Consumption
Challenges
Development of Low-Power Consumption Data Converters
Value Chain Analysis
Research and Development Manufacturing Assembly Distribution and Marketing and Sales
Technology Trends
RF Innovation for 5G Fpgas Designed for Data Converters Microcontrollers Integrated with Adc, Dac, and Temperature Sensors for Analog and Digital Sensing Studio-Quality Audio
Case Studies
Characterizing High-Speed Analog to Digital Converter National Instrument Chose Analog Devices to Deliver 1 Msps Per Channel I/O with One-Watt Power Consumption Datang Opted for Analog Device's High-Speed-Quad Dacs for High-Performance, Small-Form-Factor Wireless Base Stations
Company Profiles
Key Players
Texas Instruments Analog Devices Skyworks Solutions, Inc. Infineon Technologies Ag Qorvo, Inc Renesas Electronics Corporation Microchip Technology Nxp Semiconductors on Semiconductor Recent Developments
Other Players
Asahi Kasei Microdevices (Akm) Cirrus Logic Faraday Technology Corp Avia Semiconductor (Xiamen) Data Device Corporation (Ddc) Iq-Analog Rohm Semiconductor Synopsys Omni Design Technologies, Inc. Isine Inc. Ams Osram Adsantec Inc Phoenix Contact Maxlinear Antelope Audio
For more information about this report visit
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo:
SOURCE Research and Markets