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The data converter market size is forecast to increase by USD 1.8 billion, at a CAGR of 5.9% between 2023 and 2028. The market's growth hinges on various factors, notably the escalating global efforts toward digital transformation, which are reshaping industries across sectors. Concurrently, the increasing appetite for consumer electronics amplifies market dynamics, spurred by evolving consumer preferences and technological innovations. Moreover, the rise of industrial automation and Industry 4.0 heralds a new era of manufacturing efficiency and productivity, driving demand for advanced technologies and integrated solutions. As businesses worldwide embrace these transformative shifts, the market is poised for significant expansion, driven by the convergence of digitalization, technological advancements, and the pursuit of operational excellence in both consumer and industrial domains.
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The market has experienced significant growth in recent years, particularly in the context of governments initiating logistical initiatives to ensure the availability of essential items such as bottled water during scarcity periods. The tourism industry has also faced setbacks due to the fear of diseases and contaminated tap water, leading to increased consumption of packed drinking water. This market's growth can be attributed to the portability and convenience that bottled water offers, as well as the health hazards associated with contaminated water sources. In the initial months of this trend, traditional approaches to data acquisition were employed, involving the use of Analog-to-digital conversion (ADC) and interfacing sensors. However, the market's growth has necessitated more advanced data acquisition requirements, leading to the adoption of software-defined approaches and High-speed USB-enabled DAQs. Additionally, high-resolution images are increasingly being used to monitor water quality and maintain environmental standards, further driving the demand for data converters.
Rising initiatives for digital transformation worldwide is notably driving market growth. In the realm of digital transformation, governments and businesses alike face the challenge of converting analog data from various sources, such as logistical operations, environmental monitoring, or the tourism industry, into digital format.
Moreover, this conversion is crucial for making informed decisions and automating processes in sectors like bottled water production. In the initial months of digital transformation initiatives, scarcity and decreased sales may occur due to setbacks, such as fear of diseases or contaminated tap water. However, the market's growth is driven by the increasing demand for portability, convenience, and healthier alternatives like functional water, carbonated, still, and sparkling water. Thus, such factors are driving the growth of the market during the forecast period.
Rising integration with digital signal processing (DSP) is the key trend in the market. In the market, governments and various initiatives have recognized the logistical challenges in ensuring access to clean water, particularly in the initial months of scarcity or setbacks in the tourism industry due to fear of diseases or contaminated tap water.
Moreover, to address these concerns, data converters play a crucial role in the processing and acquisition of data from sensors interfacing with water sources. Traditional approaches to data acquisition have relied on analog-to-digital conversion (ADC) and high-speed USB-enabled data acquisition systems (DAQs) for interfacing sensors and acquiring high-resolution images. However, the market's growth is driven by the shift towards software-defined approaches, which offer increased portability, convenience, and energy efficiency. Thus, such trends will shape the growth of the market during the forecast period.
Presence of noise and interference in data converters is the major challenge that affects the growth of the market. In the market, governments worldwide have initiated logistical efforts to ensure signal integrity in high-precision applications, recognizing the potential impact of noise and interference on data accuracy and reliability.
Moreover, the initial months of the market's growth were marked by scarcity and decreased sales due to setbacks in the tourism industry and fear of diseases, leading consumers to prioritize contaminated tap water over bottled water. However, the convenience and portability of packaged drinking water, available in various forms such as carbonated, still, sparkling, and functional water, have driven market consumption. Hence, the above factors will impede the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
The market share growth by the analog-to-digital converter segment will be significant during the forecast period. An analog-to-digital converter (ADC) is an important electronic component or system used to convert analog signals to digital signals. Analog signals are continuous and can take on any value within a certain range. ADCs play an essential role in modern communications systems, such as modems and wireless transceivers, where they convert analog voice or data signals into digital forms for transmission.
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The analog-to-digital converter segment showed a gradual increase in the market share of USD 2.71 billion in 2018. ADCs are used in different industrial measurement devices and control systems to digitize sensor readings and monitor processes. Additionally, modern cars use ADCs in a variety of applications, including engine control, airbag sensors, and multimedia systems. Therefore, the growing demand for ADCs will contribute to the growth of the ADC segment, which will drive the growth of the market during the forecast period.
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APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is poised for substantial expansion, driven by the burgeoning economies of China, India, and Southeast Asian nations. This region is witnessing a robust growth rate, resulting in heightened investments in sectors such as infrastructure, telecommunications, and the consumer electronics industry. Data converters are indispensable components in these industries, particularly for audio, video, and communication applications. Analog Devices' ADAS1256, ADAS1135, and ADAS1134 are integral to the semiconductor industry's data converter landscape. Hence, such factors are driving the market in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is a significant segment in the technology industry, driven by the increasing demand for data conversion solutions in various sectors. These converters facilitate seamless data transfer between different formats and interfaces, making them essential for businesses and organizations. The market is characterized by a diverse range of offerings, including Analog-to-Digital (A/D) and Digital-to-Analog (D/A) converters, Serial-to-Parallel (S/P) and Parallel-to-Serial (P/S) converters, and others. The market growth is fueled by factors such as the proliferation of IoT devices, the rise of Industry 4.0, and the increasing adoption of advanced technologies like AI and machine learning. Additionally, the market is witnessing a trend towards miniaturization and higher conversion speeds, driving innovation and competition among key players. Overall, the market is expected to experience steady growth in the coming years, offering lucrative opportunities for stakeholders.
The market is experiencing significant growth, driven by advancements in scientific and medical applications and increasing demand for high-speed USB-enabled DAQs. Key players are focusing on low-power consumption data converters to cater to the semiconductor industry, ensuring ultra-low-power operation while maintaining performance and functionality. The integration of RF converters, such as the AD9081/AD9082 mixed-signal RF converters, is enhancing the quality of service in wireless infrastructure, especially with the rollout of 4G communication and 5G communication technologies. This evolution in radio architecture core and system-on-chip (SoC) designs supports call capacity and meets the wide bandwidth demands of today's applications. As the market grows, innovations in digital downconverter technology, coupled with improvements in resolution, dynamic range, and linearity, are paving the way for more efficient frequency translation and filtering in the digital domain. Furthermore, intermediate frequency (IF) signal processing and multiplexing techniques will continue to shape the future of data converters.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.9% |
Market growth 2024-2028 |
USD 1.79 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.5 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 34% |
Key countries |
China, US, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ams OSRAM AG, Analog Devices Inc., Asahi Kasei Corp., Berkshire Hathaway Inc., Faraday Technology Corp., Infineon Technologies AG, IQ Analog, MediaTek Inc., Microchip Technology Inc., Monolithic Power Systems Inc., Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Omni Design Technologies Inc., ON Semiconductor Corp., Renesas Electronics Corp., ROHM Co. Ltd., STMicroelectronics International N.V., Synopsys Inc., Texas Instruments Inc., and TransDigm Group Inc. |
Market dynamics |
Parent market analysis, market growth analysis, market forecasting, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Usage
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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