[270 Pages Report] The digital power conversion market size is expected to grow from USD 17,606 Million in 2022 to USD 38,340 Million by 2029. The digital power conversion market is anticipated to grow at a CAGR of 11.8% during 2022 to 2029.
| Attributes | Details |
|---|---|
| 2022 Market Value | USD 17,606 Million |
| 2029 Market Value | USD 38,340 Million |
| CAGR% (2022 to 2029) | 11.8% |
| Share of Top 5 Market Players | 25% |
Digital power conversion market accounted for around 50% of power conversion market. This market growth attributes to increasing adoption of AC/DC power conversion, isolated power conversion, DC/DC power conversion, sequencers, DC/AC power conversion, power conditioning, active power filtering, and hot swap across various digital power system for industrial, communication, computing, and automotive electronics.
Increasing use of power system design and stringent government regulation on power supply across the globe is anticipated to be one of the dynamic growth factor of digital power conversion market.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 18.3% |
| H1,2022 Projected (P) | 17.9% |
| H1,2022 Outlook (O) | 16.5% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-)140 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-)180 ↓ |
Data centres are using an increasing amount of electricity. Businesses must continue to manage power conversion and on-demand power use in order to lower the total cost of ownership. To increase degrees of integration and the ability to dynamically modify settings and maximize efficiency under various loads in the data centre, digital power conversion systems are needed.
According to FMI analysis, the variation between the BPS values observed in the digital power conversion market in H1, 2022 – Outlook (O) over H1, 2022 Projected (P) reflects a decline of 140 units. The COVID -19 pandemic causes an energy crisis and supply chain disruption.
The various governments around the world shift their priorities to the energy security of their nations. Which poorly affects the government laws and activities for power management, and smart energy solution adoption.
In addition, compared to H1, 2022 (O) over H1, 2021 Actual (A) also reflects a decline of 160 units. Because there is a decline in the consumption of consumer electronics and automotive where digital power conversion products are highly used, however this decline is temporary. After the recovery from the pandemic, the rising 5G network increased use of digital power conversion in the telecommunication industry.
The global digital power conversion market valued at USD 8,339 Million in 2014. The demand for digital power conversion to rise at the rate of CAGR of 9.6% during the period 2014 to 2021. Expansion in North America is supported by higher growth of energy and power sector and growth in economies like USA and Canada in the region. Communication infrastructure segment is set to register highest market share of 31.1% in 2022.
Digital power conversion is energy conversion system that helps to convert from digital current to analog current or analog current to digital current. The digital power conversion system is simply digital control method that is used in various power control applications and communication infrastructures for power management.
The demand for digital power conversion market is expected to show significant growth in coming years. This attributes to various factors such as rising growth in consumer electronics, and rising adoption of advanced power control solutions.
Digital power converters are majorly used in power electronics applications such as light dimmer, fan regulator, induction cooking, air-conditioning, personal computers, emergency lights, UPS (uninterrupted power system), vacuum cleaners, and battery charges.
Thus, rising demand for the consumer electronics ultimately fuels the demand for the digital power converters. Digital power converters also majorly used in automotive sector in subways, trolley, hybrid electric vehicles, fork-lifts, and many more.
In modern cars, digital power converters used in ignition switch, adaptive front lighting, windshield wiper control, electric power steering, and interior lighting. Thus, such factors are expected to propel the market growth of digital power conversion market in coming years.
Currently, the USA market anticipate for the largest consumption of digital power conversion in North America region, and is expected to grow at 7.5% CAGR during 2022-29. The USA digital power conversion product sales is expected reach 1.7X by 2029.
USA market witness higher growth in digital power conversion market. This attributes to factors such as government regulations & initiatives for power management, adoption of smart energy solutions and rising disposable income of American people.
The USA witness key market digital power conversion vendors such as Cirrus Logic Inc., Microchip Technology Inc., Texas Instruments, Vertiv Co. and others. Therefore, presence of such key player in the country is set to drive the demand for the USA digital power conversion market.
China is set to register exponential growth in the global digital power conversion sales with a CAGR of 14.1% during 2022 to 2029. China market is anticipated to create an absolute dollar opportunity of USD 1,977 Million during 2022 to 2029.
The factors such as increasing investment in digitization by Chinese government and high manufacturing activities in the country is set to drive the growth of telecommunication and infrastructure industries. Thus increasing growth in telecommunication and infrastructure industries ultimately fuels the demand for digital power conversion market in the region.
China witness significant growth in automotive and industrial sector in recent years. It is expected to drive the demand for the digital power conversion market in China.
The Germany market is set to report for largest market share in European digital power conversion market, and the market size is expected reach 1.6X by 2029. Germany market is anticipated to create an absolute dollar opportunity of USD 465 Mn during 2022-29.
Germany has one of the world's most developed communication and transportation infrastructures. Germany shows significant growth in consumer electronics, automotive industry and adoption of enterprise & cloud computing technology across various sectors. For instance, in December 2021, German government planned to invest 60-Bn-Euro in 'future' fund.
These investment triggers automotive industry and expected to put 15 Mn electric cars on the road by 2030. The new funds also used in digitization of Germany economy. Thus rising investment by government across such industries is set to propel the demand for the digital power conversion market.
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AC/DC digital power conversion segment will dominate the product segment, and expected to reach 1.7X by 2029. Moreover, DC/AC digital power conversion segment is set to witness highest growth rate of 15.6% CAGR during 2022-29.
The AC/DC power converters are mostly used in all electronics and electrical devices. It can be used for power supply circuits for household applications such as washing machines, vacuum cleaners, electric rice cookers, refrigerators, and others. It is also used in medical equipment, process control systems, building automation, and others.
Therefore, rising demand of power management in various electronic appliances shows significant growth of AC/DC power conversion segment in digital power conversion market in recent years.
On the basis of application, communication infrastructure segment will be a dominating segment. The market size of communication infrastructure segment is expected to expand up to 1.9X of by 2029. Moreover, automotive segment is set to register the highest growth at the rate of CAGR 14.4% during 2022-29.
AC/DC power conversion, isolated DC/DC power conversion, sequencers, DC/AC power conversion and others are used in servers and telecom infrastructures for the purpose of increasing system efficiency and to improve power factor.
Thus rising adoption digital power conversion solutions in factory automation, signage displays & telecommunication, automation, and other application is set to spur the demand for the communication infrastructure segment in digital power conversion market.
Many key digital power converter manufacturers are inclined at investing heavily in power conversion product innovations to uncover increased applications of digital power conversion. With the use of technology, vendors also try to accelerate its business transformation and growth objectives by increasing its partner base.
| Attributes | Details |
|---|---|
| Market value in 2021 | USD 15,829 Million |
| Market CAGR 2014 to 2021 | 9.6% |
| Share of top 5 players | Around 25% |
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | USD Million for Value |
| Key regions covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; and Middle East and Africa |
| Key countries covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, Australia and New Zealand, GCC countries, Turkey, Northern Africa, and South Africa |
| Key market segments covered | Product, Application, Region |
| Key companies profiled | Texas Instruments Inc.; NXP Semiconductor Inc.; Vertiv Co.; Ericsson Power Modules AB; General Electric Power; Infineon Technologies A.G.; Microchip Technology Inc.; TDK Corporation; Cosel CO. Ltd.; Cirrus Logic Inc. |
| Report coverage | Market forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives |
| Customization & pricing | Available upon request |
Rising demand for advanced power control systems is the key factor driving the market growth.
AC/DC power conversion segment may dominate in the product type category.
China may witness significant growth due to a surge in the telecommunication sector.
North America is set to report significant growth in the coming years.
| Estimated Base Year Value (2022) | USD 4.53 Billion |
|---|---|
| Anticipated Forecast Value (2032) | USD 12.03 Billion |
| Projected CAGR (2022 to 2032) | 10.26% |
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Digital Power Conversion Market
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