According to a recent report published by Allied Market Research, titled, Analog-to-Digital Converters Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global analog-to-digital converters market was valued at $2,145.00 million in 2016, and is projected to reach at $3,175.04 million by 2023, growing at a CAGR of 5.60% from 2017 to 2023.
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An analog-to-digital converter (ADC) is an electronic component that accepts analog (continuous) input and transforms it into digital (discrete) output. The market is driven by increase in technological advancements and surge in disposable income of individuals. However, the design complexity design of the ADC device restricts the market growth.
At present, Asia-Pacific dominates this market, followed by North America. In 2016, China dominated the Asia-Pacific market; similarly, U.S. led the overall market in North America in the same year. The rest of Europe, excluding UK, Germany, and France, currently dominates the European analog-to-digital converters market.
In 2016, the delta-sigma ADC segment dominated the product segment, in terms of revenue. Furthermore, based on application, consumer electronics led the global market in 2016. However, the industrial application segment is expected to register the highest CAGR throughout the forecast period.
Key Findings of the Analog-to-digital Converters Market:
- Delta-sigma ADC segment generated the highest revenue o in the global market in 2016.
- In 2016, the consumer electronics segment generated the highest revenue in the application segment.
- LAMEA is anticipated to exhibit the highest CAGR from 2017 to 2023.
- In 2016, Asia-Pacific contributed the highest market share, followed by North America, Europe, and LAMEA.
The key players profiled in the report include Analog Devices, Inc., Microchip Technology Inc., Sony Corporation, Maxim Integrated, Adafruit Industries, Texas Instruments Incorporated, Asahi Kasei Microdevices Co., Renesas Electronics Corporation, National Instruments, and Diligent Inc.