The overall power supply market is expected to grow from USD 25.00 billion in 2017 to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. Power supplies are being used in many verticals such as lighting, telecommunications, consumer electronics, medical & healthcare, industrial, food & beverages, transportation, and military & aerospace. The base year considered for the study is 2017, and the forecast has been provided for the period from 2018 to 2023.
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?
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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 market by integrating it in various devices such as street lighting, home lighting, wearable bands, Smartphone’s, 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.
Major players operating in the power supply market include MEAN WELL (Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US), XP Power (US), Murata Power Solutions (Japan), Artesyn (US), Phoenix Contact (Germany), Delta Electronics (Taiwan), Cosel (Japan), PULS (Germany), CUI (US), Acopian (US), Acbel Polytech (Taiwan), Salcom (Finland), LITE-ON Power System Solutions (US), FSP (Taiwan), Power Innovation (Germany), MTM Power (Germany), and Power Systems & Controls (US).
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Growing adoption of home and building automation systems
Emerging telecommunications sector
Increasing demand for energy-efficient devices/appliances
Increase in adoption of high-voltage direct current (HVDC) and renewable energy sources may affect growth of AC-DC market
Various regional/country-wise regulatory and safety standards
Growing use of data centers
Increasing requirement of power supply in medical and healthcare devices
Stringent design considerations for input power/nonstandard AC & DC inputs