The global high speed data converters market is poised to reach US$ 5 Bn by 2032, exhibiting growth at a CAGR of around 6% - 7% during the forecast period (2022-2032). As per the study, total sales of high speed data converters are projected to surpass US$ 4 Bn in 2022. High speed data converter are devices used to convert analog signals to digital signals. As a result, its application in the medical imaging, consumer audio or video and cellular communication is increasing.
In addition to this, need for rapid data conversion in several industries, especially healthcare, to avoid the delay in transmission of vital information is burgeoning. This is anticipated to propel the adoption of high speed data converters. Subsequently, surging adoption of these converters to handle enterprise-grade data management in healthcare and defense sectors is projected to boost the market over the coming years.
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Which are the Drivers Boosting High Speed Data Converters Market?
Advancements in broadband communication technology is encouraging the use of electronic gadgets with high speed processing abilities. Consequently, growing adoption of smartphones, tablets, and laptops is improving the demand for high speed data converters.
Further, demand for processing signals with more than 1 gigahertz of bandwidth in computer and technology sector is rising. This is likely to push the sales of high speed data converters.
Also, adoption of high speed data converters is expected to increase with growing inclination towards wireless local area network (LAN) across the globe. On the back of these factors, the market is expected to witness positive growth over the forecast period.
High speed data converters provides exponential data bandwidth and excellent processing power. Hence, application in digital engines loaded with heavy signals and data will drive the demand in the market.
Which are the Factors Impeding the Growth in High Speed Data Converters Market?
Lack of knowledge regarding the use of high speed data converters in smart devices is anticipated to hinder the growth in the market.
Also, integration of radio frequency (RF) data converters into system-on-chip (SOC) and field-programmable gate array (FPGA) is likely to hamper the sales of high speed data converters.
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Will North America Emerge as Lucrative Pocket for High Speed Data Converters?
According to Future Market Insights (FMI), North America is expected to hold significant share in the global high speed data converters market. Expansion of construction and industrial sector is increasing the adoption of building and industrial automation equipment.
This is likely to bolster the demand for high bandwidth process control, thereby augmenting the sales of high speed data converters. Growing adoption of smartphones, tablets, PCs, and other consumer electronics in the U.S will create conducive environment for the high speed data converters market.
Which are the Factors Driving Sales of High Speed Data Converters in Asia Pacific?
Expansion of telecommunication and consumer electronics sectors in developing regions including China, India, and Japan is likely to create remunerative opportunities for the market.
Besides this, advent of industrial automation in several industries is likely to increase the use of sensor-based systems. This, in turn, will spur the adoption of high speed data converters over the forecast period.
Apart from this, growing investments in smart city projects and advancements in enterprise-grade wireless network infrastructure in India and China is projected to accelerate the adoption of high speed data converters.
Key players operating in the global high speed data converters market include Analog Devices, Inc., Renesas Electronic Corporation, Texas Instruments Incorporated, Maxim Integrated, Cirrus Logic, Inc., and Linear Technology, among others.
Key manufacturers are concentrating on advancing their product line and manufacturing processes to cater to the growing demand for swift data conversion. Some of the players are also adopting business strategies such as acquisitions, collaborations, and partnerships to expand their business in the coming years.
Key Segments Profiled in the High Speed Data Converters Market
- Wireless Infrastructure
- Process Control
- Defense and Aerospace Communications
- Industrial and Building Automation
- Monitor and Control
- Other Applications
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa
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