The Global Converter Modules Market size was valued at USD ~8,040 million in 2018 and is expected to reach USD ~12,990 million by the end of the forecast period with a CAGR of ~7%.
Converter modules are devices that are used to convert analog signals to digital signals and vice versa for high voltage applications. Rising demand for SMPS in data centers and a shift towards battery-powered automobile have contributed to the growth of the global converter modules market.
Converter modules allow components to work in high-power situations without using an external source. This helps manufacturers reduce costs of the board and simplify the circuit design, resulting in the elimination of ground loop and interferences occurring from other circuits. Component manufacturers are focusing on designing isolated converter modules that comply with stringent medical safety standards to extend their reach in the healthcare equipment industry.
According to Market Research Future, the global converter modules market has been segmented into type, application, and region.
By type, the global converter modules market has been segmented into DC-DC converter module, DC-AC converter module, and AC-DC converter module. Among these converter modules, the DC-DC converter module dominated the global market in 2018 and is estimated to grow with a highest CAGR during the forecast period. An increase in the adoption of smartphones, wearable devices, and robots has attributed to the growth of these converter modules.
By application, the global converter modules market has been segmented into IT & telecommunication, industrial, healthcare, transportation & logistics, aerospace & defense, and others. Among these segments, the IT & telecommunication segment dominated the global converter modules market in 2018 and is estimated to maintain its dominance during the forecast period 2019–2025.
By region, the global converter modules market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The market in Asia-Pacific is estimated to dominate the global market followed by Europe, North America, the Middle East & Africa, and Central & South America. The increasing adoption of converter modules for industrial robotics is fueling the growth of the market in Asia-Pacific. However, the North American region is anticipated to witness the highest growth during the forecast period owing to the increasing demand for SMPS across data centers.
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The key players in the converter modules market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Texas Instruments Incorporated (US), ABB Ltd (Switzerland), Mitsubishi Electric Corporation (Japan), FUJITSU (Japan), TDK Corporation (Japan), TAMURA Corporation (Japan), Renesas Electronics Corporation (Japan), Flex Ltd. (US), Advantech Co., Ltd (Taiwan), Murata Manufacturing Co., Ltd (Japan), RECOM Power GmbH (Austria), Delta Electronics, Inc. (Taiwan), ROHM Semiconductor (Japan), STMicroelectronics (Switzerland).These players contribute a significant share in the growth of the global converter modules market.
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