Data converters play a crucial role in facilitating communication between analog and digital systems. These allow real-world signals like temperature, light, pressure, and others to be measured and transmitted in digital form for processing. Global data converter market has witnessed growth over the years due to increasing digitization across various industries like electronics, healthcare, automotive, and others. Various types of data converters are available in the market based on their operational characteristics and speed such as analog to digital converters (ADC), digital to analog converters (DAC), sampling rates, and others. Advancements in IC fabrication technology have enabled development of more compact and efficient converter ICs capable of higher speeds and resolutions. This factor along with growth in applications like IoT is expected drive the data converters market growth.
Market Dynamics:
Global data converters market growth is driven by rapid growth in digitization and connectivity across many industries. Growing adoption of smart devices, industrial automation, self-driving cars, and others necessitates data conversion for various sensors and control processes. However, high development costs of advanced converter ICs limits its mass adoption and hampers the market growth. The ongoing shift towards more connected systems and technologies like 5G communication presents significant opportunities in applications like mobile and wireless networks. Advancements in technologies like AI also offer scope for increasing integration of data converters.
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