Power Supply Market Methodology and Scope Analysis by 2023
The overall Power Supply Market is expected to grow from USD 25.20 billion in 2018 to USD 34.92 billion by 2023, at a CAGR of 6.7%. Growing adoption of home and building automation systems, emerging telecommunications sector, increasing demand for energy-efficient devices/appliances are the key factors driving the growth of this market.
A power supply is a device that accepts an AC power input, rectifies and filters it and then applies the resulting DC voltage to a regulator circuit that provides a constant DC output voltage. There are a wide variety of AC-DC and DC-DC power supplies that can have an output voltage from less than 1 V to thousands of volts and output power ranging from 0.1 W to thousands of watts. AC-DC and DC-DC power supply applications from verticals such as lighting, industrial, consumer electronics, and medical are driving the power supply market by integrating it in various devices such as street lighting, home lighting, wearable bands, smartphones, and patient-monitoring devices.
The power supply market has been segmented by output power into low, medium, and high. The market for power supply with low output power is expected to grow at the highest CAGR from 2018 to 2023. The high adoption of power supply with low output power in the telecommunications and consumer electronics applications contribute to the rapid growth of the said market.
The power supply market in APAC is expected to grow at the highest CAGR during the forecast period. Moreover, APAC is expected to dominate the overall power supply during the forecast period. This growth can be attributed to the strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing digitization and automation in various sectors is likely to generate demand for power supplies in APAC.
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The following are the major Objectives of the Study.
- To describe and forecast the power supply market, in terms of value, by output power, product type, and vertical
- To describe and forecast the power supply market, in terms of value, by region—North America, Asia Pacific (APAC), Europe, Rest of the World (RoW)
- To provide detailed information regarding major factors influencing growth (drivers, restraints, opportunities, and challenges)
- To study complete value chain of power supplies and analyze current and future market trends
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the power supply ecosystem
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
- To analyze strategic approaches such as product launches, acquisitions, collaborations, contracts, agreements, expansions and partnerships in
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