Report Ocean has recently added a comprehensive market research report that provides an in-depth analysis of the “Data Converter Market” industry. This report offers valuable insights into current and future industry trends, empowering readers to identify revenue growth and profitability drivers. It conducts a detailed analysis of key factors influencing the global and regional market, including drivers, restraints, threats, challenges, opportunities, and industry-specific trends. The report also highlights global certainties, downstream and upstream analysis of key players, and provides forecast market information, SWOT & PESTEL analysis, market scenarios, and possibility studies.
Data Converter Market is valued approximately at USD 5.28 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.33 % over the forecast period 2023-2030. A data converter is a device or software that converts data from one format to another, enabling compatibility between different systems or components. It facilitates the transformation of data from one representation to another for efficient processing or communication. The Data Converter market is expanding because of factors such as, rising adoption of Internet of things IoT and rising number of electronic health records. Moreover, increasing adoption of IoT devices led to increase in the demand for data converters which enable efficient data conversion and communication between IoT devices and systems.
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According to the Statista in 2022, the number of Internet of Things devices globally is expected to nearly triple from USD9.7 billion in 2020 to over USD29 billion by 2030. By 2030, China is projected to account the largest number of IoT devices, with around 5 billion devices used by consumers. The rising adoption of electronic health records has increased the demand for data converters. These converters are essential for healthcare organizations to effectively manage and integrate various data formats into standardized electronic records. According to Statista, the global electronic health records market was valued at around USD 29 billion in 2020. Projections indicate that by 2027, the market is expected to surpass USD 47 billion. In addition, technological advancements in data converters and increasing number of data centers would create a lucrative growth opportunity. However, the lack of knowledge about using the smart devices and high cost of Data Converter stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Data Converter Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market during the forecast period with largest market share owing to presence of technology companies, as well as, increasing advancements in sectors such as automotive, healthcare, and telecommunications and a growing adoption of IoT and smart devices in the region. Asia Pacific is expected to be the fastest growing region during the forecast period, owing to factors such as, rising in electronics industry, expanding manufacturing sector and increasing investments in infrastructure and telecommunications contribute to the demand for data converters in the region.
Major market player included in this report are:
Analog Devices, Inc.
Microchip Technology Inc.
STMicroelectronics N.V.
NXP Semiconductors N.V.
Texas Instruments Incorporated
Faraday Technology Corporation,
Asahi Kasei Microdevices,
ON Semiconductor Corporation
Rohm Co., Ltd.
Skyworks Solutions, Inc.
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Recent Developments in the Market:
In 2022, In January 2023, ON Semiconductor Corporation partnered with Ampt LLC, the leading company in DC optimizers for large-scale PV solar and energy storage systems. This collaboration will enable ON Semiconductor Corporation to meet the growing demand for DC string optimizers.
In March 2022, ROHM introduced the BD34352EKV D/A converter IC DAC chip and the BD34352EKV-EVK-001 evaluation board to support the reproduction of high-resolution audio sources in high-quality audio devices. The audio DAC chip is a crucial component in audio equipment, responsible for effectively extracting and converting high-resolution digital audio data into analogue audio signals, thereby influencing the overall audio quality.
Global Data Converter Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimatio: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Sampling Rate, End-User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Digital-to-Analog Converters
Analog-to-Digital Converters
By Sampling Rate:
General-Purpose
High-Speed
By End-User:
Medical
Test and Measurement
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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