Global Data Converters Market
The global Data converters market was valued at USD3,871.7 million in 2019 and is expected to reach USD 7,310.8 million by 2027, growing at a CAGR of 8.47% from 2020 to 2027.
The Communication application segment is estimated to be the highest share of the Data converters market in 2019. The telecommunication industry is seeing an upsurge in investments to meet the increasing need for high-speed internet from consumers & enterprises and mounting data consumption. Data center operators and telecommunication service providers are heavily investing their capital in setting up network infrastructure and data centers as converters are the important components of the manufactured products, fostering the market growth for data converters.
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Market Drivers: Increasing adoption of technologically advanced data acquisition system
Market Challenges: Limitations of data converters on latency
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Market Opportunity: Potential Use of Data Converters in Developing Advanced 5g Infrastructure
COVID-19 Impact Analysis
Depending upon the type, business is categorized into type such as Analog-To-Digital Converter (ADC) and Digital-To-Analog Converter (DAC). Among all, the global Digital-To-Analog Converter (DAC) market is expected to witness the largest market share over the forecast period.
On the basis of converter type market is segmented into High Speed D/A Converters, and High Speed A/D Converters. In terms of sampling rate, the market is categorized into High-Speed Data Converters, and General Purpose Data Converters.
In terms of rate type market is segmented into 1Gsps to 5Gsps, and 5Gsps to 20Gsps, by resolution market is segmented into 10 bit resolutions, 12 bit resolutions, and 14 bit resolutions.
In terms of application, the worldwide industry is categorized into Aerospace, Defense, Automotive, Communication, Test and Measurement, Consumer Electronics and Medical.
On the basis of region market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America Data converters market is estimated to grow from US$ 282.97 million in 2019 to US$ 465.93 million by 2027, at a CAGR of 6.35% over the forecast period.
North America is occupied the lion’s share due to market growth in telecommunication sectors and the use of Field-Programmable Gate Array (FPGA) to increase the demand of analogue-to-digital converter in consumer electronics for high-resolution images has become an indispensable part which encourages the data converters market growth. The need for consumer electronics in North America increased at a rate of 3 to 4 % in 2019, according to the reports published by the Consumer Technology Association (CTA).
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