Research Nester assesses the growth and market size of the global DC power supplies market which is anticipated to be on account of the growing adoption of electric vehicles and increasing demand for automotive.
New York – June 2, 2023 - Research Nester’s recent market research analysis on “DC Power Supplies Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global DC power supplies market in terms of market segmentation by vertical, type, output power, and by region.
Growing Demand for LED to Promote Global Market Share of DC Power Supplies
While around 49% of the world's light sources were LEDs in 2019, this share is expected to increase to around 86% by 2030. Light Emitting Diodes, or LEDs, are semiconductor devices that resemble transistors or other types of diodes with the added ability to convert electrical energy into light energy. As such, they operate on low DC voltage and, unlike an incandescent lamp, cannot be plugged directly into an AC power source.
It is expected that by 2023 there will be around 5 billion smartphone users worldwide, which means that around 85% of the world's population will own a smartphone. However, smartphones have various problems after a period of time, and a DC power supply is used for error detection. A DC power supply is a necessary piece of equipment for mobile repairs. It is used to identify different types of cell phone defects.
Growth Drivers:
Upsurge in Data Centers Growth in Power Generation from SolarChallenges:
Global DC converter manufacturers or their brand owners face a significant threat from unlicensed and substandard products in regional markets. Local manufacturers of AC-DC power supply converters often offer their products at discounted prices, using stolen trademarks and logos of well-known brands, resulting in significant losses in the global DC power supply market.
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By vertical, the global DC power supplies market is segmented into telecommunications, consumer electronics, medical & healthcare, military & aerospace, transportation, lighting, food & beverages, and industrial. The consumer electronics segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment is due to the growing consumer electronics market. In addition, it is estimated that the increasing investment in consumer electronics will fuel the growth of the segment. The government forecasts that the PLI program will attract around USD 413 million in investment in large-scale electronics manufacturing in India by 2025, mainly in the production of mobile phones and electronic components. Smartphones and other electronic devices are becoming more and more popular in both domestic and foreign markets.
By region, the North America DC power supplies market is to generate the highest revenue by the end of 2035. In North America, approximately 328 million people (approximately 83% of the population) subscribed to wireless services in 2021. In addition, the number of device users is growing in this region as well, which is estimated to boost market growth as well. Several technological developments, such as the Internet of Things (IoT), which connects electrical devices, are also driving growth in the North American market. Various devices such as laptops, smartphones, and tablets rely on DC power supplies to maintain constant voltage, allowing for easy demand.
This report also provides the existing competitive scenario of some of the key players of the global DC power supplies market which includes company profiling of Acopian Technical Company, Ametek Inc., B&K Precision Corporation, Chroma ATE Inc.,
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