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Digital Power Conversion Market Report
Digital Power Conversion Market Trends, Dynamics & Market Insights
Digital Power Conversion Market, By Product (AC/DC, Isolated DC/DC, Sequencers, DC/AC, Power Conditioning/Active Power Filtering, Hot-Swap), By Application (Communication Infrastructure, Enterprise & Cloud Computing, Automotive, Industrial), and Region -...
The Digital Power Conversion Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of xx% during the forecast period.
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Digital power is that the energy conversion system under which digital control techniques are useful to varied power management applications. the employment of digital power conversion is rising to make sure the acceptable running of the digital processes throughout industrial and residential sectors. The digital power conversion system is a sophisticated digital control method that's helpful in various power con-trol applications.
Key players operating in the digital power conversion market are-
Rising product demand from communication infrastructure is a key market growth driver. Also, the use of efficient digital power converter in the automotive sector, where DC to AC converters is widely used to charge the batteries of vehicles, further augmenting the product demand. Moreover, expanding utilization of digital power conversion across various verticals, ideal government approaches increasing demand for digital power conversion in downstream business sectors and expanding utilization of wireless framework bolsters the industry growth in the coming years.
Based on application, the digital power conversion market is classified into communication infrastructure, enterprise & cloud computing, automotive, and industrial. The automotive segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. Digital power conversion product applications are on the rise in the automotive sector. Production of power trains and the advent of automatic & self-driving cars is increasing with advanced technologies, due to which, demand for digital power conversion products is expected to rise, which bolsters the segment growth.
By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to growing investments in digitalization by governments in these countries, which have led numerous companies to intensify their businesses. Moreover, there are high manufacturing activities in India, which focuses more on local manufacturing rather than importing products from other countries, which further proliferates the regional market growth.
The COVID-19 outbreak has moderately affected the digital power conversion industry. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic affected the communication infrastructure, enterprise & cloud computing, automotive, and industrial sectors due to limited workforce and supply chain disruptions, thus affecting the market growth.
Here is the list of the group of customers that the digital power conversion market hopes to have the greatest opportunity to convert-
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Cirrus Logic Inc. (US), Cosel Co. Ltd. (Japan), Ericsson AB (Sweden), GE Power Conversion (US), Microchip Technology Inc. (US), Infineon Technologies AG (Germany), ROHM Semiconductor (Japan), STMicroelectronics N.V. (Switzerland), Texas Instruments Incorporated (US), and TDK Corporation (Japan) are among the key players in the digital power conversion market.
Rising product demand from communication infrastructure, use of efficient digital power converter in the automotive sector are the factors driving the growth of digital power conversion market.
The automotive segment is expected to register healthy CAGR in the digital power conversion market in the coming years.
Asia-pacific is expected to grow at a substantial CAGR in the digital power conversion market during the forecast period.
Digital power conversion vendors, Digital power conversion retailers, Communication companies, Automobile companies are the target audience in the digital power conversion market.
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