The market for digital power conversion is predicted to expand from US$ 17,606 Mn in 2022 to US$ 38,340 Mn by 2029, with a phenomenal CAGR of 11.8% over that time.
Over the coming years, the market for digital power conversion will continue to expand due to the rising need for power supply solutions. Increased use of electric vehicles and smart home appliances will continue to be major drivers of market expansion.
Key Takeaways – Digital Power Conversion Market Study
- 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
With a 30% market share at the moment, North America has been a significant market for digital power conversion demand. However, due to the region’s robust economic expansion and the extraordinary growth of the consumer electronics sector, the digital power conversion market in APEJ is expected to register a higher CAGR throughout the forecast year.
Major competitors in the digital power conversion market concentrate on growing their operations throughout Asia Pacific nations like India and numerous ASEAN nations. The governments of these nations are making increasingly large investments in their communication infrastructure, which encourages various suppliers of digital power conversion to keep operating in these nations.
Masterpact MTZ, the next generation of high-power low-voltage circuit breakers, is being introduced by Schneider Electric, one of the industry leaders in automation transformation and electronic energy management, in February 2022. This product combines the company’s renowned dependability and high performance with improved digital competence.
Manufacturers Prioritizing Extended Product Line-ups
To meet the growing demand from a variety of application industries, including IT & telecom, the automotive, and manufacturing sectors, companies have started investing in core application areas such as communication for the Internet of Things (IoT), digital services (OSS/BSS, and telecom core), to provide digital power conversion.
Flex Power Modules unveiled the BMR490 DC-DC converter with active current sharing in September 2022. For difficult datacom applications, the novel sharing mechanism uses two or more converters in parallel, giving greater power on a single rail and boosting redundancy. TDK Corporation purchased Nextys SA earlier in January 2022 and turned it into a wholly-owned subsidiary. In addition to the TDK-Lambda product line, Nextys designs and manufactures a broad range of DIN rail power supplies and accessories. A mounting system known as “DIN rail” is frequently seen in modules for industrial control systems.
Digital Power Conversion Market Outlook by Category
- AC/DC Power Conversion
- Isolated DC/DC Power Conversion
- DC/AC Power Conversion
- Power Conditioning/Active Power Filtering
- Hot Swap
- Communication Infrastructure
- Enterprise & Cloud Computing
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- the Middle East and Africa