Digital Power Conversion Market on the Rise: US$38.34 Billion Revenue Forecast by 2029, Driven by 11.8% CAGR

The digital power conversion market is expected to grow from US$ 17,606 Million in 2022 to US$ 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 demand for digital power conversion is on the rise, particularly in communication infrastructure and the automotive industry. This trend is being driven by the increasing need for high power applications, efficient digital power management, and precise control. Switched-mode power supplies (SMPS), a cornerstone of digital power conversion systems, are finding widespread use in communication equipment.

In the automotive sector, isolated DC/DC converters are becoming essential components for enabling communication between different parts of electric, hybrid, and fuel cell vehicles. This growth is expected to be particularly strong in developing countries and some of the fast-growing economies in the Asia Pacific region, with a compound annual growth rate (CAGR) of 9.6% and 11.8% respectively for communication infrastructure and automotive applications during the forecast period. While North American countries are likely to have a higher initial demand for digital power conversion, these developing regions are poised for significant growth due to their rapid technological advancements and infrastructure development.

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.

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:

Major players in the digital power conversion market include established semiconductor companies like Texas Instruments, NXP, Infineon, and Microchip, alongside specialists in power conversion like Vertiv, Ericsson Power Modules, Cosel, and Cirrus Logic. Additionally, technology giants like General Electric contribute through their power conversion divisions.

Know More About Digital Power Conversion Market Report:
In its new offering, Future Market Insights puts forward an unbiased analysis of the global market for digital power conversion, providing historical demand data (2014-2021) and forecast statistics for 2022-2029.