Special Purpose A/D Converter Market Expected to Reach $724.5 Million, Globally, By 2031 at 6.5% CAGR: Allied Market Research
The special purpose A/D converter market has steadily gained traction, owing to a rise in demand for enhanced technologies in telecommunication across industries and integration of IoT and AI in different industrial applications, including consumer electronics, IT and telecommunication, automotive, and others
PORTLAND, Ore., Jan. 30, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Special Purpose A/D Converter Market By Resolution (8-bit, 10-bit, 12-bit, 14-bit, 16-bit, and Others), Application (Consumer Electronics, IT and Telecommunication, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031", According to the report, the global Special Purpose A/D Converter industry generated $403.8 million in 2021, and is estimated to reach $724.5 million by 2031, witnessing a CAGR of 6.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, Restraints, and Opportunities
The increase in demand for data converters for wireless communications & rise in digitalization of various industrial sectors drives the growth of the global Special Purpose A/D Converter market. On the other hand, complex structural design may impede data collecting restraining growth to some extent. However, government support for digitizing work processes and ongoing competitive pressure to develop high-performance and efficient devices in emerging economies have paved the way for lucrative opportunities in the industry.
Report Coverage and Details:
The 12-bit segment to maintain its dominance during the forecast period-
By resolution, the 12-bit segment garnered the highest share in 2021, holding nearly thirty percent of the global Special Purpose A/D Converter market revenue. This is because In February 2019, Analogix Semiconductor, announced the availability of its ANX7451, second generation 10 Gbps USB-C re-timer capable of supporting 12-bit Gen2 data rates and DisplayPort 1.4a at 8.1 Gbps for next generation 10G mobile devices which require re-timers to drive appreciable distances. ANX7451 guarantees high bandwidth data and video transport over long channels in smartphone system boards and external cable connections.
The IT and Telecommunication segment to rule the roost
By application, the IT and telecommunication segment accounted for more than three-fifths of the global Special Purpose A/D Converter market revenue in 2021, and is projected to retain the lion's share by 2031. This growth is due to the move to fourth generation (4G) networks with advanced modulation and antenna technology to improve voice and data services and quality. Furthermore, the ongoing technological development and widespread demand for wireless technology are the main reasons for the high share of this application. With this development of communication applications, the demand for data converters will also increase.
Asia-Pacific garnered the major share in 2021
By region, Asia-Pacific contributed to the highest share in 2021, garnering more than one-third of the global Special Purpose A/D Converter market revenue. Vehicles like passenger cars, buses, lorries, and EVs are in high demand throughout the region. Research and development for greener cars and fuels are being supported by BRIC nations including China, India, and Russia. Additionally, there is a growing need for vehicles with features like CD players, voice-activated controls, Bluetooth connections with cell phones (for improved communication), and radar distance control. Data converters (both ADCs and DACs) are required for the manufacturing of all these components and vehicles.
In April 2022, India's Tata Motors announced plans to invest $3.08 billion in its passenger car business over the next five years. In March 2022, MG Motors announced plans to invest $350 million to $500 million in capital investment in India, which will include expanding electric vehicle production capacity. Such investments by automakers and governments to boost the automotive industry are likely to bring opportunities for the growth of data converters market players during the forecast period.
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Leading Market Players:
The report analyzes these key players of the global Special Purpose A/D Converter market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
Key Benefits For Stakeholders:
Special Purpose A to D Converter Market Key Segments:
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