The digital power conversion market is expected to grow from USD 17,606 Million in 2022 to USD 38,340 Million by 2029 and exhibit a remarkable 11.8% CAGR between 2022 and 2029.
Increasing demand for power supply solutions will continue to bolster the growth of the digital power conversion market over the following years. The rising adoption of electric cars and smart home appliances will also remain among the key boosters of market growth.
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Key Takeaways from the Digital Power Conversion Market Report:
- The adoption of power conditioning/active power filtering continues to broaden in developing and developed countries.
- Communication infrastructure requires high power applications, digital power management, and control, mainly applied to the switched-mode power supply (SMPS), which captures a substantial share of various digital power conversion systems.
- Isolated DC/DC converters can be used to interface elements in Electric Vehicles (EVs), Hybrid Electric Vehicles (HEVs), and Fuel Cell Electric Vehicles (FCEVs).
- Demand for digital power conversion in infrastructure communication and the automotive industry is set to increase at the CAGR of 9.6% and 11.8% respectively, during the forecast period.
- As compared to developing regional markets, demand for digital power conversion will be higher in North American countries and some of the fast-developing economies across the Asia Pacific excluding Japan (APEJ).
Key Players Targeting APEJ for Expansion:
North America has been a prominent market for digital power conversion demand that currently accounts for around 30% share of the market. However, APEJ’s digital power conversion market is set to exhibit a higher CAGR over the projection period owing to the strong economic growth of the region and exceptional growth of the consumer electronics industry.
Major players in the market for digital power conversion focus on expanding their businesses across countries in Asia Pacific, such as India and various ASEAN countries. Increasing investments by governments of these countries in the communication infrastructure attract different digital power conversion providers to continue their businesses in these countries.
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Manufacturers Prioritizing Extended Product Line-ups:
To offer digital power conversion, companies have started investing in core application areas such as communication for the Internet of Things (IoT), digital services (OSS/BSS and telecom core) in the digital power conversion market and meet the growing demand from various application industries, including IT & telecom, automotive, and manufacturing industries.
In September 2022, Flex Power Modules introduced the BMR490 DC-DC converter with active current sharing. The new sharing mechanism makes parallel use of two or more converters for challenging datacom applications, delivering higher power on a single rail and increasing redundancy. Earlier in January 2022, TDK Corporation acquired Nextys SA and made it a wholly-owned subsidiary.
Leading Key Players:
- Texas Instruments Inc.
- NXP Semiconductor Inc.
- Vertiv Co.
- Ericsson Power Modules AB
- General Electric Power
- Infineon Technologies A.G.
- Microchip Technology Inc.
- TDK Corporation
- Cosel CO. Ltd.
- Cirrus Logic Inc.
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Digital Power Conversion Market Segmentation:
By Product
- AC/DC Power Conversion
- Isolated DC/DC Power Conversion
- Sequencers
- DC/AC Power Conversion
- Power Conditioning/Active Power Filtering
- Hot Swap
By Application
- Communication Infrastructure
- Enterprise & Cloud Computing
- Automotive
- Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa
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