World Data Converter Market to Amount to USD 5.08 Bn by 2023, Expects M&M in Its New Research Report Recently Added at MarketPublishers.com16 Oct 2017 • by Natalie Aster
LONDON – In 2017, the value of the data converter market has reached USD 3.52 billion. This market is anticipated to experience modest healthy growth at a 6.3% CAGR over 2017-2023 to amount to USD 5.08 billion by the end of the projected period.
The major factors predicted to fuel uptake in the data converter market comprise escalating demand for test and measurement solutions from end-users, enhancing demand for high-resolution images in medical and scientific applications as well as increasing number of product launches, M&A, partnerships and collaborations in this field.
The main market growth challenge is the integration of FR data converters into FPGA and system-on-chip (SoC).
Basing on types, the major market share belongs to analog-to-digital converters (ADCs). This segment is poised to grow further spurred by expanding implementation of technologically advanced data acquisition systems, uptake of 5G technology in commercial applications, rising usage of electronic components in different automotive applications and escalating demand for fitness equipment.
Through 2023, the highest CAGR worldwide is predicted in the APAC market for data converters. Robust growth in this regional market is fueled by increasing digitisation in the industrial sector, escalating adoption of IIoT along with enhancing penetration of connected devices.
New research report “Data Converter Market by Type, Sampling Rate, Application, and Region - Global Forecast to 2023” drawn up by MarketsandMarkets (M&M) is a reliable source of data on the market performance at different geographical levels. This research study presents a detailed analysis of the data converter market dynamics, landscape, trends and segmentation. It estimates the market shares, gives access to updated statistics, examines the key factors influencing the market development, touches upon the historical development patterns and describes the actual market scenario. Besides, this research study identifies and discusses the merging market growth threats and opportunities, and provides an all-round future outlook with detailed forecasts through 2023. Moreover, this study scrutinises the competitive environment and profiles the leading companies engaged in the data converters industry worldwide.
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