The global switching mode power supply market is expected to be valued atUSD 24.5 billion in 2022. Sales of switching mode power supply devices are likely to remain high for switching mode power supply during the assessment period. this is due to the rising application across various end-use industries and garneringUSD 25.8 billion in 2033, recording a CAGR of 4.2% from 2023 to 2033. The market is likely to secure USD 39.1 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Switching Mode Power Supply Market Size Value in 2023 | USD 25.8 billion |
| Switching Mode Power Supply Market Forecast Value in 2033 | USD 39.1 billion |
| Global Growth Rate | 4.2% CAGR |
| Forecast Period | 2023 to 2033 |
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Opportunities in the Switching Mode Power Supply Industry
| Attribute | Details |
|---|---|
| Historical CAGR (2018 to 2022) | 6.6% |
| Forecast CAGR (2023 to 2033) | 4.2% |
From 2018 to 2022 the switching mode power supply market expanded at a CAGR of 6.6%. Switch mode power supplies are important for use in electronic projects and several other applications that consume large amounts of power.
The global switching mode power supply market is driven by increasing demand for consumer electronics. Increasing demand for better power efficiency is expected to drive the growth of the switching mode power supply market during the forecast period.
The growing need to manage the size and weight of the electronic circuit for an electronic device is projected to drive the growth of the switching mode power supply market during the forecast period.
The switching mode power supply market is projected to show a noteworthy growth of USD 39.1 billion by the end of the forecast period of 2033.
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The Rapid Growth of Consumer Electronics Is Expected to Drive Market Growth During the Forecast Period
Switching mode power supplies provide high efficiency and small size, which are important considerations in the design of modern consumer electronics. They also provide a wide range of output voltage and current options, which allows them to be in a variety of different devices and applications.
The switching mode power supply is efficient for power usage, lightweight, compact size, and flexible power conversion, owing to all these qualities the switching mode power supply market is gaining traction in consumer electronics.
Advances in technology and rising digitalization fuel the demand for consumer electronics which in turn is expected to drive the growth of the switching mode power supply market during the forecast period.
Increased Investment in Research & Development Activity Drives the Market Growth
The leading players in the market are investing in the development of new technologies and innovative solutions to meet the growing demand for more efficient and reliable power supplies in various applications.
The companies are investing heavily in research and development to create power supplies that can deliver more power in a smaller form factor. This is particularly important in applications such as data centers and telecommunications where space is at a premium.
With the increasing application of switching mode power supply in electronic vehicles, the market players are providing reliable and efficient power conversion solutions that meet the demand of the automotive industry.
The Market May Get Hampered by Fluctuating Raw Material Prices
The high cost of switching mode power supply as compared to traditional power supplies, which can limit their adoption in certain applications materials may hamper the growth of the market during the forecast period.
The design and development of SMPS solutions can be complex and require specialized technicians, and the lack of availability of these technicians may hinder the growth of the market.
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Technological Advancement to Boost the Growth of the Switching Mode Power Supply Market in the United States
The global switching mode power supply market is expected to be dominated by the United States. The market is anticipated to expand at a CAGR of 4.2% and is expected to accumulate a market value of USD 7.2 billion over the forecast period. Unites states to witness high adoption of switching mode power supply in the near future due to the significant growth of the electronic industry in the region.
The increasing demand for energy-efficient and high-performance power supplies in various applications such as data centers, healthcare, and automotive drives the growth of the market in the United States.
Increased adoption of Electric Vehicles to Boost the Growth of the Market in the United Kingdom
The switching mode power supply market in the United Kingdom is expected to keep rising with a CAGR of 4.2% and is expected to gain a market value of USD 1.5 billion by the end of the forecast period.
The increasing demand for electric vehicles (EVs) is expected to further drive the growth of the United Kingdom switching mode power supply market. The increasing adoption of renewable energy sources such as wind and solar power, which require efficient and reliable power conversion systems in the region to boost the growth of the switching mode power supply market.
Rapid Development in the Industrial Sector to Drive the Growth of the Market in China
China’s switching mode power supply market is expected to rise at a 4.2% CAGR between 2023 to 2033. The market is expected to gain a market value of USD 7.9 billion by the end of the forecast period.
The presence of a large population base and increased demand for electronic components and the presence of manufacturing sites of several electronic component manufacturers in China drive market growth in the region.
AC/DC Segment Generated High Revenue
Based on type, the switching mode power supply market is segmented into AC/DC, DC/DC, and other segments. The Ac/DC segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a CAGR of 3.9% during the forecast period.
AC/DC SMPS are more efficient than traditional linear power supplies because they use the switching regulator topology, which eliminates the need for a bulky transformer and reduces power losses.
AC/DC switching mode power supplies are used in a wide range of applications, including consumer electronics, medical devices, industrial equipment, and telecommunications equipment, among others. Owing to all these applications the segment is expected to grow during the forecast period.
Consumer Electronics Segment to Gain Significant Traction During the Forecast Period
Based on the application, the market is segmented into consumer electronics, industrial, communication, and other segments. Among all these consumer electronics segment remains the top application category and is expected to expand with a CAGR of 3.7% from 2023 to 2033.
The switching mode power supplies are widely used in consumer electronics due to their high efficiency, small size, and ability to provide a wide range of output voltages and currents. On the other hand, the industrial segment account for a significant share of the market during the forecast period.
New players in the switching mode power supply market Akshay Systems and TianJin Globalsemi Electronic among others are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and creating a larger customer base. For instance
Prominent players in the switching mode power supply market are Allis Electric Co., Ltd.; B&K Precision Corporation; CUI, Inc.; Absopulse Electronics Ltd.; BENNING Elektrotechnik und Elektronik GmbH & Co. KG among others.
The key players in the switching mode power supply are focusing on improved productivity and quality of their products in order to gain more customer base. Key players are working on research & development activities for the effective composition of the material that is to be used for manufacturing.
Other expansion strategies of key players include extensive research & development activities, collaborations, and mergers & acquisitions. Some notable developments are as follows:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.2% from 2023 to2033 |
| Market Value in 2022 | USD 25.8 billion |
| Market Value in 2032 | USD 39.1 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Allis Electric Co. Ltd.; B&K Precision Corporation; CUI, Inc.; Absopulse Electronics Ltd.; BENNING Elektrotechnik und Elektronik GmbH & Co. KG; Block Transformatoren-Elektronik GmbH; American Portwell Technology Inc.; Artesyn Embedded Power; Apx Technologies Inc.; Bicker Elektronik GmbH |
| Customization & Pricing | Available upon Request |
The projected CAGR of the switching mode power supply market by 2033 is 4.2%.
The projected market value for 2033 is USD 39.1 billion.
The market is estimated to secure a valuation of USD 25.8 billion in 2023.
The consumer electronics industry is the key consumer of the market.
North America is growing rapidly due to the increasing demand for consumer electronics.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. AC/DC 5.2. DC/DC 5.3. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Consumer Electronics 6.2. Industrial 6.3. Communication 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Allis Electric Co., Ltd 15.2. B&K Precision Corporation 15.3. CUI, Inc 15.4. Absopulse Electronics Ltd 15.5. BENNING Elektrotechnik und Elektronik GmbH & Co. KG 15.6. Block Transformatoren-Elektronik GmbH 15.7. American Portwell Technology, Inc 15.8. Artesyn Embedded Power 15.9. Apx Technologies, Inc 15.10. Bicker Elektronik GmbH 16. Assumptions & Acronyms Used 17. Research Methodology
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Switching Mode Power Supply Market
