Power Supply Market is Expected to Grow at High CAGR through 2028

Emerging telecommunication sector and rising demand for uninterrupted electricity from the industrial sector is likely to propel the demand for the power supply market across the globe.

According to TechSci Research report, “Global Power Supply Market - By Region, Competition, Forecast & Opportunities, 2028”. The global power supply market is growing owing to rapid urbanization and industrialization, rising demand for home and building automation, the developing telecommunications sector, and rising need for energy efficient equipment.

The adoption of home and building automation systems is increasing, which is a key element fueling the market's growth. Building automation has received a lot of interest recently due to its potential to lower energy use, facilitate building management, monitoring, and maintenance, and improve occupant satisfaction. The global power supply market is expanding at an accelerated rate due to factors such the growing need for improved lighting solutions, the increasing demand for energy-efficient gadgets and appliances, and the expanding telecommunications sector.  Consumer electronics, healthcare, military, and aerospace all have growing need for power supplies, which might offer significant development possibilities for their industry.

On the other hand, the market's expansion is being stifled by the increased use of high-voltage direct current (HVDC) and various regional or country specific regulatory and safety requirements.

The expansion of Internet of Things (IoT) applications, such as smart homes, smart cities, machine-to-machine (M2M) communication, and Industrial IoT (IIoT), among many others, is causing the market to grow in the upcoming years. The market is being further stimulated by the increased usage of home and building automation systems. Additionally, the industry is positively impacted by the growing demand for advanced energy services to help reduce poverty and improve quality of life.

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The global power supply market is divided into output power, type, and vertical. Based on output power, the market is divided into low, medium, and high. Based on type, the market is divided into AC-DC and DC-DC. Based on verticals, the market is divided into telecommunications, consumer electronics, medical & healthcare, and industrial. Additionally, based on region, the market is divided into Asia-Pacific, North America, Europe, Middle East & Africa, and South America.

Based on type, the AC-DC type segment is expected to have the largest market share during the upcoming years owing to wide use in industrial and medical & healthcare sectors. The commodity and non-commodity sectors each provide almost similar amounts of income to the AC-DC market. Additionally, increasing the usage of data centers across the globe is supporting the growth of the AC-DC Power Supply Market.

Based on verticals, the telecommunications verticals segment is expected to have the largest market share during the upcoming years. Due to developments in technology and consumer demands for continuous communication services, the broadband, mobile, and IP-based orientation of the telecom network ensures rapid growth of telecom power systems. Additionally, the demand for upgraded network services including 4G, Volte, and 5G has increased due to the increasing use of smartphones and data transmission. It is thus anticipated to serve as the main driver of power supply market expansion.

Key market players in the global power supply market include:

• MEAN WELL Enterprises Co. Ltd
• TDK Corporation
• Siemens AG
• General Electric Company
• XP Power Ltd
• Murata Manufacturing Co. Ltd
• Emerson Electric Co
• Delta Electronics Inc
• Power Systems & Controls Inc
• Acopian Technical Company

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“Global Power Supply Market is expected to boost in the upcoming years owing to increasing demand of continuous power supply, rising infrastructure activities, rapid urbanization & industrialization, growing electricity demand from various sectors that include, manufacturing industries, transportation, Defense & aerospace etc. are major driving factors of the power supply market and expected to register a significant CAGR during the forecast period.

Presently, many country’s governments focused on electric vehicle products and trying to enhance the usage of electric vehicles in the upcoming years. For instance, Silicon Mobility and G-Pulse decided to partner and develop a high voltage multiphase interleaving bidirectional DC-DC converter platform for new energy vehicles (NEVs), such as hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell electric vehicles (FCEVs). Furthermore, in Asia Pacific region, in terms of populations, India’s on the top. Therefore, growing population along with increasing electrification results India's power consumption increased by 11% to 121.19 billion units in December 2022. Thus, above mentioned factors, are expected to rise the market of global power supply in the upcoming years."  Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

 “Power Supply Market – Global Industry Size, Share, Trends, Opportunity and Forecasted, 2018-2028 By Output Power (Low, Medium, High), By Type (AC-DC, DC-DC), By Vertical (Telecommunications, Consumer Electronics, Medical & Healthcare, Industrial), By Region and Competition”, has evaluated the future growth potential of Global Power Supply Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Power Supply Market.

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