DATA CONVERTERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Data processing requirements are growing exponentially due to the rapid development of technologies like IoT, 5G, and AI. However, converter chips are finding it hard to keep up with the escalating demand for faster data transfer speeds. Converter designs must also reduce power consumption without compromising performance to support emerging applications. Further, geopolitical tensions have disrupted global supply chains, creating uncertainties in raw material procurement. Standards and compatibility issues pose additional technical hurdles as the market transitions to new protocols and architectures.

Market Opportunity: Emergence of IoT applications

The proliferation of connected devices and networks of sensors requires more analog-to-digital interfaces. Emerging domains such as autonomous vehicles and augmented reality are expected to massively increase the usage of data converters. Expanding into product segments like industrial automation, consumer electronics and mobile devices can boost revenues.