Data Converter Global Market Report 2024

The data converter market size has grown strongly in recent years. It will grow from $4.44 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth observed in the historical period can be attributed to the expansion of mobile and consumer electronics markets, the rise of Internet of Things (IoT) technologies, the increased demand for high-performance computing solutions, escalating bandwidth requirements, and the evolution of automotive electronics.

The data converter market size is expected to see strong growth in the next few years. It will grow to $6.91 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. Anticipated growth in the forecast period is expected to be driven by the emergence of edge computing, the rapid expansion of electric vehicles (EVs), increased integration into advanced medical devices, and a heightened focus on energy efficiency initiatives.

The data converter market is poised for significant growth, driven by two key factors in distinct sectors. Firstly, in scientific and medical domains, there's a rising demand for high-resolution images, particularly in applications such as medical image processing. This process involves the analysis and utilization of 3D image files from CT or MRI scans for diagnosing disorders, guiding medical procedures, and research purposes. Data converters play a crucial role in meeting the stringent requirements of medical imaging devices, ensuring top-notch image quality, pixel density, accuracy, linearity, and noise reduction. Given that medical imaging constitutes over 90% of healthcare data, the surge in high-resolution imaging devices equipped with data converters is actively fueling the growth of the data converter market.

The proliferation of smartphones is a significant catalyst for market expansion. These multifunctional devices integrate various functionalities such as telephony, computing, media playback, and photography. Data converters within smartphones are essential components that enable the conversion of analog signals into digital values, allowing seamless processing by microcontrollers or computers. For instance, statistics from November 2023 by Uswitch indicate that 92% of mobile users in the UK rely on smartphones. Additionally, according to The Office of Communications in March 2022, 21% of internet users in the UK primarily access the internet through smartphones. This soaring adoption of smartphones is a pivotal driver behind the escalating growth trajectory of the data converter market.

Key players in the data converter market are driving profitability through the introduction of new software solutions. Software plays a pivotal role in configuring and managing data converters, providing essential functionalities for tasks such as data conversion, analysis, and visualization. For instance, in June 2023, Analog Devices Inc., a prominent US-based semiconductor manufacturing company, unveiled Apollo MxFE. This cutting-edge software boasts advanced software-defined capabilities, direct RF-sampling, and a wideband mixed signal front end, specifically designed to elevate performance in radio frequency applications. Tailored for Aerospace, Defense, and Communication applications, the Apollo MxFE supports groundbreaking technologies such as phased array radar and 6G communications, catering to the surging demand for broader bandwidths and rapid data processing in 5G, 6G, Wi-Fi 7 & 8, radar, and signal intelligence at the network edge. With bandwidths reaching up to 10GHz and direct sampling and synthesis capabilities extending to 18GHz, this 16nm CMOS device expedites design cycles and product time-to-market while ensuring future-proofing through its superior RF Analog-to-Digital and Digital-to-Analog Converter cores. This innovative software solution serves as a crucial asset in driving the competitive edge and profitability of major players in the data converter market.

Leading companies within the data converter market are enhancing their market position by introducing innovative data conversion tools. These tools, encompassing software or utilities, serve the critical function of transforming data by modifying its format, structure, encoding, or presentation, ensuring compatibility across diverse systems, applications, or storage formats. For instance, in September 2022, Glencoe Software, a prominent US-based provider of scientific image data management solutions, launched NGFF-Converter. This specialized tool is tailored to assist scientists handling extensive bioimaging datasets, particularly in fields such as digital pathology. The NGFF-Converter stands out as an open-source utility adept at converting bioimage formats into cloud-compatible data formats, such as OME-NGFF or OME-TIFF. The OME-NGFF format, optimized for efficient cloud storage, significantly enhances the analysis of multi-dimensional bioimaging data. Available for download on Windows and MacOS platforms, the user-friendly NGFF-Converter represents a cornerstone of Glencoe's commitment to transforming scientific image data management. This initiative is geared towards streamlining and amplifying data workflows in both academic and industrial research settings.

In August 2021, Analog Devices, a prominent US-based multinational semiconductor company, completed the acquisition of Maxim Integrated Products, Inc., for a substantial $20.8 billion. This strategic move was aimed at fortifying Analog Devices' position as a leading high-performance semiconductor manufacturer in the analog device realm. The acquisition sought to bolster Analog Devices' analog segment by integrating Maxim's extensive portfolio of high-quality analog integrated circuits. Additionally, this acquisition played a pivotal role in consolidating a comprehensive single-device portfolio, positioning Analog Devices for increased market penetration across diverse sectors. Maxim Integrated Products, Inc., a US-based manufacturer renowned for its cutting-edge analog integrated circuits, specializes in catering to a wide array of industries, including automotive, industrial, healthcare, mobile consumer, and cloud data center applications. Analog Devices' acquisition of Maxim was a significant step towards expanding its footprint in these crucial markets while harnessing Maxim's expertise and technology to further its growth and innovation within the semiconductor industry.

Major companies operating in the data converter market report are Continental AG, Mitsubishi Electric Corp., Sumitomo Electric Industries Ltd., Asahi Kasei Corporation, Texas Instruments Incorporated, TE Connectivity Ltd., STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors NV, Renesas Electronics Corporation, Amphenol Corp., Analog Devices Inc., Semiconductor Components Industries LLC, Microchip Technology Inc., Skyworks Solutions Inc., Synopsys Inc., Qorvo Inc., BorgWarner Inc., ROHM Semiconductor Co. Ltd., Vishay Intertechnology Inc., Maxim Integrated Products Inc., Diodes Incorporated, Microsemi Corporation, Cirrus Logic Inc., Dialog Semiconductor plc, Silicon Laboratories Inc., Knowles Electronics LLC, Semtech Corp., Faraday Technology Corporation, DATEL Inc.

North America was the largest region in the data converter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data converter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the data converter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Data converters primarily consist of two main types such as analog-to-digital converters (ADCs) and digital-to-analog converters (DACs). Digital-to-analog converters function as electric circuits that receive digital data essentially a stream of numbers - and generate an output of voltage or current proportional to the digital data's value. The sampling rates for these converters are classified into high-speed data converters and general-purpose data converters, with major rate types falling within ranges such as 1 GSPS to 5 GSPS and 5 GSPS to 20 GSPS. These converters find applications across diverse segments such as communications, automotive technology, consumer electronics, industrial process control and automation, medical devices, testing and measurement equipment, and various other industries requiring data conversion capabilities.

The data converters market research report is one of a series of new reports that provides data converters market statistics, including data converters industry global market size, regional shares, competitors with an data converters market share, detailed data converters market segments, market trends and opportunities, and any further data you may need to thrive in the data converters industry. This data converters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The data converter market includes revenues earned by entities providing data entry service, data annotation services, digital asset management services, real estate data management services, email appending services, data appending services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.