Global Digital Power Conversion Market: Forecast Highlights
According to the research report, the global digital power conversion market is expected to witness robust growth rate during the period of assessment. The global market is poised to register a high CAGR of 17.8% during 2017-2027. With this tremendous growth rate, it is expected to reach a market valuation of around US$ 62.4 Bn in 2027 from a value of US$ 12.19 Bn in 2017 which reflects a 5x increase in the growth since 2017.
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Global Digital Power Conversion Market: Dynamics
There are several aspects that influence the growth of the global digital power conversion market. Increasing usage of DPS across diversified industry application, favourable government policies, rising demand for digital power conversion in downstream markets, use of advanced power control solutions, growth in the Automotive sector, increasing use of wireless infrastructure, growth of consumer electronics segment, increasing investment by MNCs and semiconductor manufacturers, increasing industrial automation, increasing manufacturing activities, rising power electronics device market, rising demand for high end power electronic products and boom in the digital sector have been supporting the growth of the global digital power conversion market. However, economic and political instability, infrastructure limitations, rising corruption and product specifications compliance which is the most expensive, are few of the aspects that are challenging the growth of the global market for digital power conversion.
Global Digital Power Conversion Market: Segmental Intelligence
The global digital power conversion market has been segmented by product type, by application and by region.
- By region, the global power conversion market in Asia Pacific excluding Japan (APEJ) region is expected to grow at a healthy pace to reach a higher market valuation of about US$ 10.5 Bn by the end of the forecasted year. Digital power conversion market in Latin America region is projected to grow at the highest pace in the coming years
- By product type category, the AC/DC segment is poised to be the largest segment in terms of market value and share during the period of assessment. However, the isolated DC/DC segment in this category reflects higher potential to reach a significant market estimation with a higher pace and poised to register a CAGR of more than 21% throughout the period of assessment
- By application, industrial segment is expected to be the largest segment in terms of higher market valuation and is estimated to reach a value of more than US$ 20 Bn by the end of 2027. It is also a high growth segment reflecting a higher CAGR of 21.7% throughout the period of forecast, as compared to other application segments
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Global Digital Power Conversion Market: Key Players
The global digital power conversion market research study has included analysis on the key players operating within the market. Various aspects such as SWOT analysis, geographical reach, strategies, product portfolio, expansion plans, mergers and acquisitions, key developments, distribution channel analysis etc., of the key players have been covered in this study. Key companies such as Texas Instruments Inc., EnOcean GmbH, NXP Semiconductor, Inc., Vertiv Co (formerly, Emerson Network Power), Ericsson Power Modules AB, General Electric Energy division, Infineon Technologies A.G, Microchip Technology Inc., TDK Corporation, Cosel CO. Ltd., and Cirrus Logic Inc., have been profiled in this research report.