The digital power conversion market has been segmented by product into AC/DC, Isolated DC/AC, Sequencers, DC/AC, Non-Isolated DC/AC, Power Conditioning/ Active Power Filtering and Hot Swap. Among these segments, the AC/DC segment is the fastest growing segment in digital power conversion market and is anticipated to dominate the market in upcoming years.
The global market for digital power conversion is expected to witness a robust growth over the period 2017-2024. Factors such as rising demand for digital power conversion system and government regulations on power supply systems are anticipated to drive the demand for digital power conversion system. Further, the demand for digital power conversion system in power system design is estimated to boom the Digital Power Conversion Market by noteworthy revenue by the end of 2024.
In the regional segment, North America accounted for the largest revenue share in 2016 and is anticipated to continue its dominance over the forecast period. Factors such as rising disposable income, government regulations and initiatives are believed to uplift the market of digital power conversion system in this region. Further, Europe is anticipated to witness a positive growth over the forecast period and is expected to positively impact the growth of the global digital power conversion market. Moreover, China and Japan are the major countries which are anticipated to drive the Asia Pacific market with significant growth over the forecast period.
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Power System Designs to Boom the Market
The major growth factor of the global digital power conversion market depends on the increased usage of digital power conversion in power system design which is further believed to supplement the growth of digital power conversion market globally. Further, technological progress focused at improving product performance and costs of the product are the major factors expected to drive the global power conversion market.
However, factors such as environmental factors, safety concerns, operational expenses and continuous usage of existing analog control loop are likely to inhibit the growth of the global digital power conversion market in the near future.
The report titled “Digital Power Conversion Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the digital power conversion market in terms of market segmentation by product type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the digital power conversion market which includes company profiling of Texas Instruments Inc., GE Power Conversion, NXP Semiconductor Inc., Ericsson AB, Infineon Technologies A.G, Microchip Technology Inc., TDK Corporation, Cosel Co. Ltd., Cirrus Logic Inc. and ROHM Semiconductor.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the digital power conversion market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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