The power supply market is
expected to be worth USD 34.92 billion by 2023, growing at a CAGR of 6.7% from
2018 to 2023. Factors such as growing adoption of home and building automation
systems, emerging telecommunications sector, and increasing demand for
energy-efficient devices/appliances are driving the growth of the power supply
market. The increasing requirement of power supply in medical and healthcare
devices will provide opportunities to players in this market.
Request Free Sample pages:
The market for power supplies with low output power
(500 W and below) is expected to grow at the highest CAGR during
2018–2023. The growth of power supplies with low output power is mainly due to
the increasing use of AC-DC power supplies with low output power in
telecommunications and consumer electronics. More than 3 million products
supplied across the world operate in this power range and are designed to
ensure low current leakage and protection against short circuits, overvoltage,
and overload issues of high-wattage products.
Many telecommunication and lighting devices, medical
equipment, and consumer electronics, as well as a few industrial applications,
such as home and building automation systems, operate in this power range due
to the benefits such as reduced power control system size, weight, and cost;
this also makes the consumption of electricity more efficient. Hence, owing to
the increasing demand for energy-efficient devices/appliances and advancements
in telecommunications and medical sectors will upsurge the growth of low output
power AC-DC power supplies.
The power supply market for AC-DC power supplies is
expected to grow at the highest CAGR from 2018 to 2023. The growth of this type
of power supply can be attibuted to its wide usage in industrial and healthcare
applications. The AC-DC power supplies are available in different types such as
enclosed/encapsulated, DIN rail, open frame, PCB mount, configurable, and
others. Other types comprise power supplies such as panel mount, specific
purpose, chassis mount, front end type, and external type power supplies.
Download PDF Brochure:
The power supply market for lighting vertical is
expected to grow at the highest CAGR during the forecast period. In the
lighting industry, LED lighting has a significant growth potential owing to the
increasing consumer demand for energy-efficient lighting systems, declining
prices of LEDs, and growing penetration of LEDs as a light source in several
lighting applications. LED lighting is a significant consumer of power
supplies, thereby driving the growth of the power supply market in the near
future.
The power supply market in APAC is expected to grow
at the highest CAGR during the forecast period. Moreover, the market in APAC is
likely to continue to hold the largest size owing to the increasing demand for
consumer equipment, such as portable healthcare electronics and white goods.
Increasing digitization and automation in various sectors is likely to generate
demand for power supplies in APAC.
About
MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high
growth niche opportunities/threats which will impact 70% to 80% of worldwide
companies' revenues. Currently servicing 7500 customers worldwide including 80%
of global Fortune 1000 companies as clients. Almost 75,000 top officers across
eight industries worldwide approach MarketsandMarkets™ for their painpoints
around revenues decisions.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
