Power Supply Market: Introduction
Transparency Market Research delivers key insights on the global power supply market. In terms of revenue, the global power supply market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global power supply market.
The global power supply market is broadly affected by several factors, including rise in consumer trend toward building automation, widespread use of consumer electronics, stringent RoHS compliance, and rising demand for automation devices in street lighting and industrial applications. Thus, expanding applications of power supply in different sectors is propelling the global power supply market.
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Power Supply Market: Dynamics
The widespread use of consumer electronics and stringent RoHS compliance, as well as the rising demand for automation devices in street lighting and industrial applications, is expected to fuel the industrial power supply market. The growing adoption of power supply with low output power in telecommunications and consumer electronics applications leads to significant growth of the power supply market across the globe. Moreover, the demand for uninterrupted power supply due to increasing industrial automation is likely to propel the global power supply market during the forecast period.
Developments in wireless Internet and smartphones have extended the concept of smart home to services that can be remotely controlled anytime and anywhere, which is likely to lead to significant growth in power supply modules and in turn help to boost the power supply market across the globe. Moreover, rise in consumer trend toward building automation due to rising disposable income is likely to result in major growth of smart homes. Rapid developments in the field of artificial intelligence is anticipated to increase the application of power supplies in the field of building automation, which is likely to lead to significant growth of the power supply market.
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Power Supply Market: Prominent Regions
The power supply market in North America is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and growth of consumer electronics and industrial automation in the region. The power supply market in Europe is projected to witness favorable growth during the forecast period, due to significant rise in industrial activities and expansion of the automotive sector in the region. The Asia Pacific power supply market is likely to expand during the forecast period, owing to the presence of a large number of players designing and producing power supplies.
Power Supply Market: Key Players
Key players operating in the global power supply market are Artesyn, COSEL ASIA LTD, Delta Electronics Inc., General Electric, MEAN WELL Enterprises Co. Ltd, Murata Power Solutions, Phoenix Contact, Phoenix Contact, Siemens AG, TDK-Lambda Corporation, and XP Power among others.
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