Press release
Programmable DC Power Supply Market - Adopting Smart Grid Systems & Renewable Energy Sources
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A combination of medium and high frequency power processing technologies improves response, reduces cost, shrinks package size and is pouring the growth of the programmable DC power supply market. Further, the replacement of obsolete power supply components, software up gradation and installation of latest hardware components requires a huge capital investment is hampering to the growth of the programmable DC power supply market. Adopting smart grid systems & renewable energy sources can improve grid reliability is a key opportunity for the market growth especially in sectors like commercial sector and defense sector among others.
The programmable DC power supplies market is segmented on the basis of, product type, application, industry vertical, and geographical region. On the basis of product type, the market is segmented into single output power supply and multiple output power supply. The market for multiple output power supply used in programmable DC power supply solutions is predictable to grow at the highest CAGR during forecast period. This can be due to its ability to enable supervisors to time, efficiency, among many others, and to scrutinize the condition precisely. On the basis of application, the global market is segmented into wireless and communication power, automotive electronic components, university and 3c products, laboratory and system integration, mobile, low noise for aircraft applications.
By industry vertical, programmable DC power supply market can be segmented into education, automotive, defense, research, IT & telecommunication and others. The demand for Programmable DC power supplies across numerous applications in the defense and education sector is likely to grow expressively during forecast period. Power supplies used by the military may be related to those used in other manufacturing, but the demands of military processes require improved ruggedness, reliability, and durability. As programmable power supply system is capable of supporting more than the single or dual power outputs commonly provided by standard non-programmable (non-configurable) power supply components.
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By geographical region the global programmable DC power supply market is split up into North America, Europe, Asia Pacific, Middle East & Africa and South America. North America is expected to have largest market share during estimated period and is expected to witness significant growth owing to the presence of large defense section working in this region. The region, along with Europe, is one of the developers in adopting new technologies, which is also one of the key factors for the high CAGR in this region.
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