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Power Supply Market


Semiconductor & Electronics
Electrical System & Components

The overall power supply market is expected to grow from USD 25.20 billion in 2018 to USD 34.92 billion by 2023, at a CAGR of 6.7%. Growing adoption of home and building automation systems, emerging telecommunications sector, increasing demand for energy-efficient devices/appliances are the key factors driving the growth of this market.

A power supply is a device that accepts an AC power input, rectifies and filters it and then applies the resulting DC voltage to a regulator circuit that provides a constant DC output voltage. There are a wide variety of AC-DC and DC-DC power supplies that can have an output voltage from less than 1 V to thousands of volts and output power ranging from 0.1 W to thousands of watts. AC-DC and DC-DC power supply applications from verticals such as lighting, industrial, consumer electronics, and medical are driving the market by integrating it in various devices such as street lighting, home lighting, wearable bands, smartphones, and patient-monitoring devices.

The power supply market has been segmented by output power into low, medium, and high. The market for power supply with low output power is expected to grow at the highest CAGR from 2018 to 2023. The high adoption of power supply with low output power in the telecommunications and consumer electronics applications contribute to the rapid growth of the said market.

The power supply market in APAC is expected to grow at the highest CAGR during the forecast period. Moreover, APAC is expected to dominate the overall power supply during the forecast period. This growth can be attributed to the strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing digitization and automation in various sectors is likely to generate demand for power supplies in APAC.

Power Supply Market
Power Supply Market by Region

Lighting, industrial, and consumer electronics verticals drive growth of power supply market

Lighting

In the lighting industry, LED lighting has significant growth potential owing to the increasing consumer demand for energy-efficient lighting systems, declining prices of LEDs, and growing penetration of LEDs as a light source in several lighting applications. LED lighting is a significant consumer of power supplies, thereby driving the growth of the market in the near future.

Moreover, the power supply types, such as enclosed and open frame, as well as special purpose AC-DC, led lighting power supplies to be used for various lighting applications (such as architectural lighting, medical lighting, transportation lighting, entertainment lighting, safety and security lighting, street lighting, lit signage and moving signs boards, displays) and commercial applications (such as refrigerator lighting and outdoor area lightings). Such huge usage of power supplies for lighting applications is likely to upsurge the growth of power supply market in the near future.

Industrial

The industrial vertical consists of various industries such as building and industrial automation, warehousing, process automation, semiconductor, automotive, wastewater treatment, and renewable energy. The aforementioned industries require/utilize AC-DC and DC-DC power supplies in a number of industrial applications such as test and measurement instruments, industrial electric equipment, factory automation equipment, home and building automation systems, and among others.

Consumer Electronics

Consumer electronics holds a major share of the power supply market. With increasing digitization and miniaturization, consumer electronics products, such as PCs, laptops, game consoles, DVD players, printers, scanners, hard disk drives, and cameras, are becoming portable, compact, and power- and cost-efficient. With the introduction of new and innovative technologies, such as IoT, more devices are getting connected, e.g., wireless printers. These devices require low DC power for efficient functioning. Therefore, AC-DC and DC-DC power supplies are among the essential components for consumer electronics devices/equipment. The introduction of new technologies is expected to drive the growth of the market for consumer electronics devices/equipment. Security systems, electronics equipment and instruments, lighting control systems, LED display applications, household appliances, gaming devices, information technology equipment, and consumer electronics products are among the various consumer systems and devices that require AC-DC and DC-DC power supplies.

Critical questions the report answers:

  • Which technological disruptions will impact the power supply market in the next 5 years?
  • Which are the key players in the market and how intense is the competition?

A number of regulatory international and domestic standards are imposed by governments to standardize products/end-item equipment. These standards vary from one country to another; therefore, to achieve significant sales, power supply and end-item equipment manufacturers must adhere to standards that are specific to a country or a region. Moreover, the sales of power supplies, either as inbuilt or external types, depends on meeting the relevant safety standards applicable to specific territories. These standards are defined and administered by national or international agencies, with various government-recognized testing laboratories certifying statutory regulation compliances. The designers of such products or power supplies need to understand these standards even though they may not perform standards certification.

Major players operating in the power supply market include MEAN WELL (Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US), XP Power (US), Murata Power Solutions (Japan), Artesyn (US), Phoenix Contact (Germany), Delta Electronics (Taiwan), Cosel (Japan), PULS (Germany), CUI (US), Acopian (US), Acbel Polytech (Taiwan), Salcom (Finland), LITE-ON Power System Solutions (US), FSP (Taiwan), Power Innovation (Germany), MTM Power (Germany), and Power Systems & Controls (US).

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