LOS ANGELES, Jan. 16, 2019 (GLOBE NEWSWIRE) -- According to the new report published by QY Research titled, “Global Switching Mode Power Supply Market Insights, Forecast to 2025,” the global switching mode power supply market is expected to reach the value of close to US$ 30 Bn by the end of 2025, expanding at a sluggish CAGR of 2.3% throughout the forecasted period. Although the growth rate of the market is not impressive during the projected period, the market is likely to grow in the years to come due to emerging applications of power supply in the global switching mode power supply market.
Switching mode power supply is basically a supply based on electronic power that efficiently joins switching regulator to convert electrical power. Switching mode power supply just like other power supplies transmit power from AC or DC source to DC loads during converting current and voltage characteristics.
The Asia Pacific to witness rising digitalization, which is expected to boost the growth of global switching mode power supply market
Asia Pacific region is forecasted to register impressive growth in the global switching mode power supply market. Japan, China, and India are likely to witness speedy growth due to growing digitalization in the region. North America is also expected to grab the largest market share, nevertheless, Western Europe region is likely to capture majority of the revenue share at the end of the projected year. The strong growth rate is likely to record in the Middle East and Africa and in Latin America during 2017-2025. This growth is attributed to factors such as development of cutting-edge technologies.
Global Switching Mode Power Supply Market: Segmental Analysis
Based on the type, the global switching mode power supply market is segmented into DC/DC, AC/DC and Others, while by application the market is segmented into communication, consumer electronics, industrial and Others. Switching mode power supply in the application has a wide scope and has lately gained significance in numerous fields such as automobiles, medical equipment, consumer electronics, and mobile phone chargers. Consumer electronics grab more than 50% downstream consumption in the global switching mode power supply market.
Global Switching Mode Power Supply Market: Drivers
Growing adoption of automation-enabled electronic components in various industries and increasing adoption of home appliances are two major factors that are creating positive impact on the global switching mode power supply market. Besides, constant initiatives by government to encourage the manufacturing of ecological vehicles is expected to boost the growth of the global switching mode power supply market. Development of cutting-edge technologies such as IIoT and industrial revolution is also anticipated to create robust growth in the global switching mode power supply market.
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Global Switching Mode Power Supply Market: Leading Players
Weidmuller, Schneider, Cosel, CETC, SIEMENS, DELIXI, Omron, MEAN WELL, PHOENIX, TDK-Lambda, MOSO, DELTA, Salcomp, ABB, Lite-On Technology, Puls and 4NIC are some of the key players operating in the global switching mode power supply market.
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