Digital Power Conversion Market Set for Rapid Growth And Trend, by 2025
Products and devices implementing the digital power conversion techniques are gaining tremendous demand and manufacturers are boosting their production capacity to meet these needs. Digital power conversion techniques are used in electronic devices that require analog-to-digital or digital-to-digital conversions. The demand for digital power conversion is growing, owing to its technical applicability in a wide range of conversion processes for audio signals.
Since audio and power signals are fundamental to almost every electronic device, the demand for digital power conversion systems will continue growing and advancing in the future. The global digital power conversion market forecast is likely to register substantial CAGR during the forecast period 2015-2025.
Digital Power Conversion Market: Drivers & Restraints
Since the onset of electronic handheld devices, the processes of digital power conversion have become miniaturised. However, the demand for such mini-converters is gaining momentum, and electronic manufacturers are adopting these newly developed digital power conversion systems. Key drivers fuelling market growth include,
Mandatory regulations on power-supply requirements
Advancements in power system design for newly-launched devices
Wireless automation systems for existing buildings
Overall growth of semiconductor industries
Supportive government initiatives
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Although the outlook on the digital power conversion market is positive, the current digital power conversion market is still at a nascent stage, and key challenges need to be addressed for the market to flourish. The digital control loop replacing the Key companies in the market include existing common power supply analog control loop is a major challenge restraining the growth of the digital power conversion market. Operational expenditures, environmental concerns, additional system cooling, and safety concerns are also limiting the growth of the global digital power conversion market.
Besides the geographical segmentation, the global digital power conversion market can be classified on the basis of product type and applications.
Based on application, the global digital power conversion market is segmented into:
Enterprise & Cloud Computing
Based on product type, the global digital power conversion market is segmented into:
Power Conditioning / Active Power Filtering
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Digital Power Conversion Market: Region-wise Outlook
North America, Europe, and Asia Pacific are leading markets for digital power conversion equipment and services. Japan and the Middle East & Africa (MEA) will also continue to witness steady growth during the forecast period. North America is likely to dominate the global market for digital power conversion, while China is expected to be a key market in terms of production and supply of converters.
Texas Instruments Incorporated, Freescale Semiconductor, Inc., Linear Technology Corporation, Microchip Technology Inc., Qualcomm Incorporated, some of are the leading players in the global digital power conversion market.
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