Data Converter Market Size Worth $8.28 Billion by 2028 at 8.4% CAGR Led by Consumer Electronics Industry, COVID-19 Impact and Global Analysis by The Insight Partners

NEW YORK, Aug. 23, 2022 /PRNewswire/ -- The Insight Partners published latest research study on 'Data Converter Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (DAC and ADC), Sampling Rates (High Speed Converters and General/Low Speed Converters), Application (Medical, Industrial, Communications, Consumer Electronics, Automotive, and Others), Resolution (10–14 bit, Above 14-20 bit, and Above 20 bit), and Rate of Converter (Below 100Msps, 100-500Msps, Above 500Msps-1Gsps, and Above 1Gsps-3Gsps),' the global data converter market size is expected to grow from $5.10 Billion in 2022 to $8.28 Billion by 2028 at a CAGR of 8.4% from 2022 to 2028.

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Data Converter Market Report Scope & Strategic Insights:

Data Converter Market: Competitive Landscape and Key Developments

Analog Devices, Inc.; Texas Instruments Incorporated; NXP Semiconductors; STMicroelectronics; ROHM CO., LTD. are a few key data converter market players. In addition, several other companies—including Microchip Technology; Omni Design Technologies, Inc.; On Semiconductor; Renesas Electronics Corporation; Synopsys, Inc. —were studied and analyzed to get a holistic view of the data converter market and its ecosystem.

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In 2022, ROHM launched the D/A converter IC (DAC chip) BD34352EKV and the corresponding evaluation board BD34352EKV-EVK-001, supporting the playback of high-resolution sound sources in high-fidelity audio equipment. Designed to maximally extract and convert high-resolution digital audio data to analog audio signals, audio DAC chips are one of the most important components for determining the quality of audio equipment.

In 2021, Texas Instruments expanded its portfolio of high-speed data converters with a new family of successive-approximation register (SAR) analog-to-digital converters (ADCs) that enable high-precision data acquisition in industrial designs. Featuring best-in-class dynamic range at the lowest power consumption, the ADC3660 family includes 8 SAR ADCs with 14-, 16- and 18-bit resolutions and sampling speeds ranging from 10 MSPS to 125 MSPS. These products help in improving signal resolution, extend battery life, and strengthen system protection.

The data converter market growth in Europe is driven by the proliferating automotive sector. The automotive sector represents over 7% of the GDP of Europe. The increasing development and sales of electric vehicles, and the presence of established car manufacturer and supplier bases, with strong brand value and technological and financial capabilities, would boost the Europe data converter market growth in the coming years. Russia is one of the leading providers of raw materials required in the manufacturing of semiconductors; however, the Russia and Ukraine conflict has raised the raw material and logistics costs to some extent, which is weighing down the automotive industry in the region.

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Germany led the data converter market size in Europe in 2021. The country is recognized for its outstanding automotive industry in the world. According to German Trade & Invest (GTAI), in 2021, the country produced more than 3.1 million passenger vehicles, and 351,000 commercial vehicles were manufactured in German plants, of which ~77% will be exported to the globally. In addition, in February 2021, Clean Energy Wire announced that the German government is investing US$ 1.54 billion (1.5 billion euros) to help the car industry become more environmentally friendly and digitalized by 2024. Thus, the growing automotive industry is expected to fuel the growth of the German data converter market in the coming years.

Telecom and aerospace are other industries having a robust foothold in Germany. Deutsche Telekom provides a 5G network that covers more than 90% of the German population. The company has more than 63,000 antennas transmitting 5G Internet throughout the country. Since 5G is one of the prominent applications of data converters in the communications industry, this industry holds huge potential for the data converter market players.

Data Converter Market: Impact of COVID-19

Germany, France, and the UK have several electronics manufacturing facilities. The COVID-19 pandemic has marginally affected the operations of electronics and semiconductor manufacturers, including data converter market players, as manufacturers continued their operations with limited workforces, which adversely impacted the product deliveries in 2020. On the contrary, the demand for cloud services increased as consumers spent maximum time working and learning from home; they were also compelled to opt for home entertainment. In addition, companies from various industries required large data spaces to deploy their operations digitally in virtual space during the pandemic.

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According to European Automobile Manufacturers Association (ACEA) report 2020, the automobile industry in Europe suffered 22.9% loss in total production compared to 2019. Nevertheless, the telecommunications sector reported a doubling of its services during the lockdown. As a result, the unprecedented rise in data generation and the need to improve the performance of wireless communication devices have boosted the demand for constructing new communication infrastructure and restoring the existing ones. Thus, a surge in the adoption of consumer electronics products amid the WFH model has propelled the demand for data converters in Europe during the COVID-19 pandemic and thus has contributed positively towards data converter market.

Data Converter Market: Application Overview

Based on application, the data converter market size is segmented into medical, industrial, communications, consumer electronics, automotive, and others. The consumer electronics segment led the data converter market in 2021; however, the industrial segment is expected to register the fastest CAGR during the forecast period.

The manufacturing sector is utilizing high-speed data converter solutions to ensure synchronized data sharing. In the industrial sector, instrumentation, precision, industrial control, and assembly-line robots are among the prominent use cases of data converters. China, the US, Japan, Germany, and India are a few of the leading manufacturing countries in the world. The growing industrial sectors in these countries would help bolster the penetration of data converters to make the industrial process smarter and automated.

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Smartphones, laptops, wearables, tablets, peripheral devices, and other consumer electronics are among the key application areas of data converters. The increasing adoption of these products in developed and developing countries is mainly attributed to the elevating population and disposable income, and growing Internet penetration. Advancements in smartphone technologies and increasing digitalization are significant factors that propel the growth of the data converter market.

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