The data converter market was valued at US$ 5.36 billion in 2022 and is expected to reach US$ 10.06 billion by 2030; it is estimated to record a CAGR of 8.2% from 2022 to 2030. Rise in high-speed data converters is expected to emerge as one of the data converter market trends.
Analyst Perspective:
North America accounted for the largest data converter market share in 2022 and is expected to continue its dominance during the forecast period. Rising investments in the developments of various sectors, including telecommunication, automotive, and consumer electronics, and increasing adoption of IoT connecting devices propel the demand for data converters. In the US, the broadband industry invested US$ 102.4 billion in communications infrastructure in 2022, showing broadband providers' determination to achieve the national objective of high-speed, affordable, and reliable connectivity. The above-mentioned parameters contribute to the growing data converter market size in North America.
Data Converter Market Overview:
Data converter is an electronic circuit; it converts data from one form to another, i. e., digital-to-analog convertor (DAC) or analog-to-digital convertor (ADC). The circuits operating with analog signals are analog, while circuits operating with digital signals are digital circuits. The high-speed ADCs are appropriate for industrial instrumentation, infrastructure, communications systems, industrial process control, data acquisition, measurement and control systems, and other sensory-based systems. Further, DACs are suitable for medical/test instrumentation and equipment, communication systems, and video applications. Thus, rising use of data converters in various applications fuels the data converter market growth.
Communication and protocol conversion; industrial control and measurement; 5G, wireless communications, wireline communications, LiDAR, and RADAR; automotive ethernet; and image sensors are among the major applications in which data converters are used. With an increasing demand for real-time information in these applications, the requirement for data converters will continue to grow in the coming years. Data converters have the potential to support high-speed operations with great precision and ease, which bolsters their demand in industrial, communication, consumer electronics, and medical applications. They also simplify system design while enhancing accuracy, lowering power, boosting bandwidth, and decreasing costs.
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Data Converter Market: Strategic Insights
Market Size Value in US$ 5.36 billion in 2022 Market Size Value by US$ 10.06 billion by 2030 Growth rate CAGR of 8.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Data Converter Market: Strategic Insights
| Market Size Value in | US$ 5.36 billion in 2022 |
| Market Size Value by | US$ 10.06 billion by 2030 |
| Growth rate | CAGR of 8.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Data Converter Market Driver:
Increasing Demand for Testing and Measurement by End Users Contributes to Data Converter Market Growth
Ensuring product quality, compliance, and efficiency remains a top priority for businesses across the world. The test and measurement (T&M) solution is a vital part of the electronic systems design & manufacturing (ESDM) sector, as it ensures the quality and performance of numerous electronic products.
In the communications industry, enhanced voice quality and data services are the result of advanced modulation and antenna techniques. Radio frequency (RF) signal analysis equipment, logic analyzers, signal generators, cable testers, network analyzers, and other test and measurement tools are needed to comprehensively test various networking components, including routers, repeaters, and connections. Analog-to-digital converters (ADC) and digital-to-analog converters (DAC) are frequently used in equipment for signal conversion. Growing use of ADCs and DACs in communication testing equipment propels the data converter market growth.
In the industrial sector, telecom service providers, network equipment manufacturers, and mobile device makers use test and measurement equipment to measure and keep an eye on a variety of parameters, including temperature, pressure, voltage, frequency signal, and product quality, as well as safety.
ADCs play a pivotal role in modern test and measurement equipment. In addition, a majority of real-world signals exist in analog form. The conversion of these analog signals into digital format becomes an indispensable step for subsequent processing, analysis, and storage. Test and measurement equipment finds extensive use across various industries, serving purposes such as design validation, troubleshooting, and data collection. Thus, advantages of testing and measurement in various industries for enhanced quality drive the data converter market growth.
Data Converter Market Segment Analysis:
The data converter market analysis has been carried out by considering the following segments: type, resolution, rate of converter, and end user. Based on type, the market is bifurcated into ADC and DAC. By resolution, the market is segmented into 10 bit, 12 bit, 14 bit, 16 bit, and others. The data converter market, based on rate of converter, is segmented into up to 50Msps, 51Msps to 100Msps, 101Msps to 200Msps, 201Msps to 500Msps, 501Msps to 1Gsps, and above 1Gsps. By end user, the market is segmented into automotive, communications, consumer electronics, industrial, medical, and others.
The ADC segment held a larger data converter market share in 2022. ADCs transform analog signals into binary codes, enabling the communication between digital circuits and the physical world. Analog signals continuously change values produced by sensors that monitor sound, light, temperature, or movements in the actual world. Many digital systems communicate with their surroundings by analyzing the analog signals produced by transducers. In addition, an upsurge in demand for smartphones propels the sales of smartphone components, including ADCs. In December 2021, Texas Instruments (TI) launched the smallest 24-bit wideband ADC that delivers industry-leading signal-measurement precision at wider bandwidths than competing ADCs. The ADS127L11, the newest product in TI’s portfolio of precision wideband ADCs, achieves ultra-precise data acquisition in a 50% smaller package, significantly optimizing power consumption, resolution, and measurement bandwidth for a wide range of industrial systems.
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Data Converter Market Regional Analysis:
The scope of the data converter market report covers North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In terms of revenue, North America dominated the market in 2022.
The North America data converter market is segmented into the US, Canada, and Mexico. The market growth in the region is attributed to the rising demand for high-resolution images in healthcare applications. The improved image quality can enable quick diagnosis and treatment of any disease, enhancing physicians' productivity. The rising adoption of data converters in technologically advanced data acquisition systems further drives the market growth in North America. The electronics industry is shifting toward a trend that combines flexible software and modular hardware.
Several market players are introducing data converters used in data acquisition systems. For instance, in November 2023, Texas Instruments TXN introduced device-screening specifications called space high-grade plastic (SHP) and SHP-compatible analog-to-digital converters (ADCs), namely ADC12DJ5200-SP and ADC12QJ1600-SP. TXN also bolstered its radiation-tolerant Space Enhanced Plastic (Space EP) portfolio with a new family of pulse-width modulation (PWM) controllers, namely TPS7H5005-SEP. Similarly, in December 2021, Texas Instruments Incorporated introduced the minimum 24-bit wideband ADC. The converter helps deliver industry-leading signal-measurement precision at wider bandwidths. The ADS127L11 can achieve ultra-precise data acquisition in a 50% smaller package, considerably optimizing power consumption, measurement bandwidth, and resolution for a wide range of industrial systems. Thus, all these factors propel the demand for data converters in North America.
According to the article published by the Balance, in 2022, the automotive industry contributes more than US$ 1 trillion to the US economy each year. In the automotive industry, data converters are used for various applications, including wireless transceivers, to communicate with other vehicles or with a fixed network. Also, analog sensors such as automotive radar, LiDAR, and cameras require an ADC interface. Thus, the increasing application of data converters in the automotive industry is favoring the data converters market.
Texas Instruments Incorporated; Analog Devices, Inc.; Omni Design Technologies, Inc.; Synopsys, Inc.; Microchip Technology, Inc.; and many data converter manufacturers have a significant presence in North America. Therefore, the parameters mentioned above drive the growth of the North America data converter market.
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Key Player Analysis:
Major players such as Asahi Kasei Microdevices Corporation; Analog Devices, Inc.; CIRRUS LOGIC, INC.; Microchip Technology Inc.; Semiconductor Components Industries, LLC; ROHM CO., LTD.; Renesas Electronics Corporation; STMicroelectronics N.V; Texas Instruments Incorporated; and Teledyne Technologies Inc. were analyzed to get a holistic view of the market and its ecosystem.
Recent Developments:
Companies in the market focus on both inorganic and organic strategies for their business growth. The data converter market forecast can help stakeholders plan their growth strategies. The data converter market report emphasizes the key factors driving the market and prominent players' developments. As per the press releases published by the key market players, a few recent key market developments are listed below:
- In March 2022, STMicroelectronics introduced a new line of radiation-hardened power, analog, and logic ICs in low-cost plastic packages that perform critical duties for satellite electronic circuits. The first nine devices in this series were introduced, and they include data converter, voltage regulator, line driver, LVDS transceiver, and five logic gates that are used in a variety of systems such as power generation and distribution, telemetry star trackers, on-board computers, and transceivers.
- In November 2023, Renesas Electronics Corp added a new RX device for high-end industrial sensor systems to its lineup of 32-bit microcontrollers. The new MCU incorporates a 24-bit Delta-Sigma A/D converter with a maximum conversion speed of 125 kSPS (125,000 samples/second) and it is eight times quicker than the RX23E-A.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Resolution, Rate of Converter, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The incremental growth expected to be recorded for the global data converter market during the forecast period is US$ 4706.32 million.
The global data converter market is expected to reach US$ 10068.77 million by 2030.
The key players holding majority shares in the global data converter market are Texas Instruments Inc; STMicroelectronics NV; Renesas Electronics Corp; ROHM Co Ltd; Analog Devices Inc; Cirrus Logic Inc; Asahi Kasei Microdevices Corp; Microchip Technology Inc; On Semiconductor Corp; and Teledyne Technologies Inc.
Rise of high-speed data converters is anticipated to play a significant role in the global data converter market in the coming years.
The increasing demand for testing and measurement by end users and rising demand for data converters in wireless communications are the major factors that propel the global data converter market.
The global data converter market was estimated to be US$ 5362.45 million in 2022 and is expected to grow at a CAGR of 8.2% during the forecast period 2022 - 2030.
The List of Companies - Data Converter Market
- Texas Instruments Inc
- STMicroelectronics NV
- Renesas Electronics Corp
- ROHM Co Ltd
- Analog Devices Inc
- Cirrus Logic Inc
- Asahi Kasei Microdevices Corp
- Microchip Technology Inc
- On Semiconductor Corp
- Teledyne Technologies Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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