The Data Converter Market is expected to grow steadily from its current valuation of USD 5.5 billion in 2023 to USD 7.4 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.

This market expansion is a sign of the growing requirement for high-performance electronic systems, growing adoption of digitalization across industries, and growing demand for data converters due to technology breakthroughs. The research highlights the crucial function that data converters perform in enabling smooth data processing and communication, establishing them as essential elements in the dynamic environment of electronic systems and devices.

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Numerous important factors are driving the expansion of the data converter market, but the growing need for high-resolution images in scientific and medical applications is one of the main drivers. Data converters that can quickly process and convert data to ensure the transmission of precise and comprehensive information are becoming more and more necessary as these industries develop. Additionally, a major factor propelling the market ahead is the growing use of highly sophisticated data collecting systems. The market has experienced significant expansion due to the increased demand for high-performance data converters as a result of industries adopting advanced data collecting methods.

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Digital-to-Analog Converters (DACS) is expected to hold the second-largest share during the forecast period

A digital-to-analog converter (DAC) is an essential part of many electronic devices, including computers, tablets, and smartphones, because it converts digital signals into analogue signals. Large volumes of digital data must be converted into analogue signals by DACs in order to produce high-quality audio, which is crucial for unlocking digital audio. Due to the fact that DACs are necessary to convert digital audio into an analogue format, they are widely found in current electronics. DACs are compatible with a wide range of devices, such as digital TV boxes, portable music players, CD or Blu-ray players, and game consoles. The market for general-purpose DACs is expected to develop significantly due to the rising demand for professional audio equipment, in-car infotainment systems, and home entertainment devices.

High-speed data converters to grow at a higher CAGR during the forecast period

High-speed data converters are essential parts that are frequently used in communications applications. They are distinguished by their operating sample rates, which range from 10 MSPS to multi-GSPS. High-speed data converters, which are well-known for their ability to accurately and quickly convert analogue signals to digital formats or vice versa, are essential to the communications sector. Opportunities for high-speed data converter providers arise as communications infrastructure providers work to improve their R&D capacities in order to satisfy the needs of high-speed communications. Applications such as test and measurement and communications make substantial use of these converters. The communications industry has a sizable opportunity for the high-speed data converter market as 5G technology continues to be developed and commercialised.

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Communications application is expected to hold the largest share of the data converter market during the forecast period

The worldwide communications sector is among the largest and fastest-growing industries. To remain relevant in this highly competitive market, products need to demonstrate cost-effectiveness, technological innovation, and scalability. Base stations, optical communication devices, and other infrastructure items have grown rapidly in the last several years due to the introduction of wireless communication networks such as 3G, 4G, and LTE. The need for data converters will increase globally as 5G wireless technology develops quickly. The need for data converters is growing as the wireless industry moves from 4G to 5G infrastructure because of the need for increased spectral efficiency, higher sampling rates, and wide input bandwidth. Since 4G and 5G networks include a large number of signal bands, data converters are essential to the complete communication ecosystem. High-speed data converters are becoming more and more in demand as manufacturers in the electronics and network infrastructure industries strive to create high-speed, latency-free solutions to suit the demands of modern high-performance communication applications. Data converter demand has been spurred by the increasing usage of various forms of high-speed broadband communication equipment. High-speed data converters are used in a variety of wireless infrastructure applications, including digital repeaters and software-defined radio (SDR), among others.

North America to hold the second-largest market share during the forecast period

Leading manufacturers of automated testing equipment system components, such as Teradyne and Roos Instruments, are centred in North America. To improve the delivery of phone, data, and video services, industries in the region, especially the industrial and communications sectors, mostly rely on Test and Measurement (T&M) solutions. The data converter market in North America is expected to increase as a result of the increasing need for T&M equipment. The Internet of Things (IoT) and linked solutions are finding new applications in a variety of industries thanks to ongoing research and development efforts in both the academic and industrial spheres. The quickening rate of digitalization across many industries, in conjunction with the pervasive integration of smart devices and ongoing technical progress, significantly contributes to the expansion of the data converter market in North America.

The key players in this market are Texas Instruments (US), Analog Devices (US), Skyworks Solutions, Inc. (US), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), Qorvo, Inc. (US), NXP Semiconductor (Netherlands), ON Semiconductor (US), Microchip Technology (US), Renesas Electronics Corporation (Japan). The players in this market have adopted various strategies to expand their global presence and increase their market shares.

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