Kenneth Research, in its repository of market research reports, has recently added a report on Data Converter Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Data Converter Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Data Converter Market products.
Final Report will add the analysis of the impact of COVID-19 on this industry.
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Kenneth Research, in its repository of market research reports, have recently added a report on Data Converter Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 2031. The Data Converter Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2031.
By Sampling Rate (General-Purpose Data Converters, High-Speed Data Converters), Type (Digital-to-Analog Converters, Analog-to-Digital Converters), Vertical, and Regional Market Size, Status and Forecast to 2031.
The Global Data Converter Market was valued at USD 3.68 billion in 2016 and is projected to reach USD 6.37 billion by 2025, growing at a CAGR of 6.28% from 2017 to 2025.
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Data converters are widely used in consumer electronic devices like smartphones and tablets. Functions such as image processing, touch sensitivity, call signal processing, network signal processing, and video calling require the use of data converters. The integration of features such as gesture and voice command in the consumer electronic devices require data converters in the back-end.
1. Market Drivers
1.1 Increasing use of data converters in developing 5G infrastructure
1.2 Rising adoption of technologically advanced data acquisition systems
1.3 Increasing demand for high resolution images in scientific and medical applications
1.4 Growing demand for test and management solutions by end user
2. Market Restraints
2.1 Implementation of low-power consumption data converters
2.2 Integration of RF data converters into FPGA and system-on-chip
The Global Data Converter Market is segmented on the sampling rate, type, vertical, and region.
1. Sampling Rate:
1.1 General-Purpose Data Converters
1.2 High-Speed Data Converters
2. By Type:
2.1 Digital-to-Analog Converters
2.2 Analog-to-Digital Converters
3. By Vertical:
3.2 Test and Measurement
3.3 Consumer Electronics
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Cirrus Logic
2. Intersil (Renesas)
3. Asahi Kasei Microdevices
4. Maxim Integrated
5. On Semiconductor
7. Texas Instruments
8. Microchip Technology
9. NXP Semiconductors
11. Avia Semiconductor (Xiamen)
12. Faraday Technology
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Data Converter Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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