Data Converter Market is anticipated to grow substantially over the forecast time span owing to the rising demand for high-resolution images in healthcare applications, growing demand for test and measurement solutions, and the rising adoption of innovative data acquisition systems. These systems are being majorly used in industrial, automotive, medical imaging, and telecom applications. The adoption of IoT, penetration of connected devices, and the growing digitization in the industrial sectors will globally provide an impetus for the data converter market.
The penetration of these products in the aerospace & defense sector is gaining momentum. These converters are used in several applications, which range from electronic warfare systems, communication systems, defense vehicles, and weapons to condition and convert digital signal to analog signal and vice versa. The implementation of these converters helps in improving the process control capabilities, data processing, and transmission of signals.
The substantial growth of data converter market can also be attributed to the high demand and integration of smart devices such as tablets and smartphones. These devices are implementing these converters for video calling, network signal processing, touch sensitivity, call signal, and image processing uses. Leading companies, such as Apple, Inc., LG Corporation, Nokia Corporation, Samsung Electronics, Co., Ltd., and Sony Corporation, are using these converters in their Test & Measurement (T&M) applications.
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An enhanced demand for high-speed data converter market will be witnessed in the coming years owing to the ongoing developments in the wireless communication networks such as the 5G technology. To develop innovative high-performance communication applications, several network infrastructure manufacturers are investing in high-speed solutions, which have enhanced the demand for the converters. The rise in the network penetration in several regions and the high rate of 4G compatibility in smart devices will fuel the data converter market.
A key factor hampering the data converter market growth is the restrictions on latency. Advanced solutions perform computing at high precision and speed and it is difficult to implement the System on Chips (SOC) owing to the technical limitations in the manufacturing processes. The final circuit of the system will always have the latency in comparison to the theoretical design and will hamper the performance. Moreover, the manufacturing sector is not using these SOCs owing to the lack of knowledge about the placement of converter in smart devices.
The data converter market is segmented by type and end-use industry. The industry is classified into Analog to Digital Converter (ADC) and Digital to Analog Converter (DAC). The ADC converter helps in converting audio signals from audio equipment and makes them perceptible for the listeners while the DAC converts digital signals into analog signals. DAC is mainly implemented in audio output equipment such as speakers. To meet the rising demand for data consumption, and high-speed internet, the converters are being used in several products such as multiplexers, base stations, microwave radios, servers, routers, and switches.
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Based on the end-use industry, the data converter market is classified into test & measurement (T&M), healthcare, industrial, consumer electronics, telecom, and automotive sectors. The telecom sector is witnessing an increase in investments to meet the rising demand for growing data consumption and high-speed internet from enterprises and consumers. Data center operators and telecom service providers are investing a high capital in setting up data centers and network infrastructure respectively as converters are the vital components of the manufactured products, propelling the data converter market growth.
The Asia Pacific data converter market is anticipated to witness a substantial growth during the forecast timeline. Countries, such as China, Japan, Taiwan, and South Korea, will contribute majorly to the growth as it is a key manufacturing hub for smart devices, computers, and laptops. In addition, the presence of several semiconductor companies in the region has stimulated the data converter market growth. In the last few years, China and India have witnessed a rise in demand for these advanced products owing to the growth in 3G/4G subscriptions.
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Companies operating in the data converter market are Analog Devices, Inc., Asahi Kasei Microdevices Corporation, Avia Semiconductor (Xiamen) Co., Ltd., Cirrus Logic, Inc., Datel, Faraday Technology Corporation, Honeywell International, Inc., Intersil, IQ-Analog Corporation, Maxim Integrated, MaxLinear, Micro Analog, Inc., Microchip Technology, Inc., Microsemi Corporation, National Instruments Corporation, NXP Semiconductors N.V., Nuvoton Technology Corporation, Nisshinbo Holdings, Inc., On Semiconductor, ROHM Semiconductor, Silicon Laboratories, Inc., STMicroelectronics, and Texas Instruments, Inc. Companies are increasingly focusing on innovative strategies such as agreements, collaborations, mergers and acquisitions, and product developments and promotions to expand their regional presence and improve the product offerings.
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