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.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Data Converter Market by Type, Sampling Rate, Application and Region - Global Forecast to 2028" - https://www.reportlinker.com/p05134418/?utm_source=GNW
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.
The breakup of primaries conducted during the study is depicted below:
• By Company Type: Tier 1 – 38 %, Tier 2 – 28%, and Tier 3 –34%
• By Designation: C-Level Executives – 40%, Directors – 30%, and Others – 30%
• By Region: North America– 35%, Europe – 20%, Asia Pacific – 35%, Rest of world– 10%
The report segments the data converter market and forecasts its size, by value, based on region (North America, Europe, Asia Pacific, and RoW), type (Analog-to-Digital Converters (ADCs) and Digital-to-Analog Converters (DACs)), sampling rate (High-speed data converters and General-purpose data converters), and application (Communications, Consumer Electronics, Industrial, Medical, Test & Measurement, and Automotive).The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the data converter market.
The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying This Report
1 This report segments the data converter market comprehensively provides the closest approximations of the overall market size and those of the subsegments across different applications and regions
2 The report provides a detailed analysis of the data converter market with the help of competitive leadership mapping, including crucial companies in the market and their relations in the ecosystem.
3 Major market drivers, restraints, challenges, and opportunities have been detailed in this report.
4 Illustrative segmentation, analyses, and forecasts for the market based on type, sampling rate, application, and region have been conducted to provide an overall view of the data converter market.
5 The report includes an in-depth analysis and ranking of key players.
Read the full report: https://www.reportlinker.com/p05134418/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001