PUBLISHER: Grand View Research | PRODUCT CODE: 1530236
PUBLISHER: Grand View Research | PRODUCT CODE: 1530236
The global data converter market size is expected to reach USD 8.52 billion by 2030, registering a CAGR of 6.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Businesses across various industries, such as consumer electronics, healthcare & life sciences, and automotive, increasingly use data to make informed decisions. This trend is driving the need for efficient and accurate data collection and analysis. Data converters play a vital role in this process by ensuring the collected data is accurate and reliable. Automation of manufacturing and industrial processes is another major growth driver in the market. Automated systems rely on data converters to collect data from sensors and control machines. As the level of automation in these industries continues to increase, the demand for data converters will also increase significantly.
Electronic systems rely heavily on data acquisition systems to collect and process information from the real world. These systems often use data converters to translate analog signals from sensors and other devices into digital data that computers can process. As the demand for advanced data acquisition systems grows, this would drive the market demand. The Internet of Things (IoT) refers to the network of physical devices embedded with sensors and software, allowing them to collect and exchange data. As the number of IoT devices grows, the demand for data converters will also increase. IoT devices often rely on data converters to convert sensor data into a format that can be transmitted over networks.