Data Converters Market is Estimated to Witness High Growth Owing to Growing Adoption of Industrial Automation
The data converters market includes products such as Analog to Digital Converters (ADCs) and Digital to Analog Converters (DACs). ADCs are widely used in medical devices and consumer electronics to convert analog signals from sensors and other sources into digital signals that can be processed by digital systems. DACs help convert digital signals from systems like computers and microcontrollers into analog outputs that can drive displays, audio systems and other analog devices.
The growing adoption of automation across various industries such as manufacturing, oil & gas, robotics etc. is driving significant for Data Converters Market Demand. As industrial robots, PLCs, and other equipment require interfacing of analog and digital systems, data converters play a critical role in industrial automation.
The Global data converters market is estimated to be valued at US$ 6.13 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2031.
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