AC-DC Power Supply Adapter Market 2024 | Growing Demand for Energy-efficient Electronic Devices to Boost Market

The power supply sector has witnessed notable technological advancements over the past couple of decades. The growing demand for AC-DC power supply adapters for use in low-voltage high current processor applications is a major factor that is likely to provide an impetus for growth of the AC-DC power supply adapter market in the upcoming years. Shortcomings in the conventional electronic load due to significantly low voltage have gradually paved the way for technologically advanced AC-DC power supply adapters. Moreover, developments pertaining to the design of AC-DC power supply adapters in recent years have provided a considerable boost to the global AC-DC power supply adapter market.

AC-DC power supply adapters are extensively used in several industrial verticals, including electronics, medical, automotive, and home appliances. More recently, the growing adoption of wide-band-gap devices such as gallium nitride (GaN) and silicon carbide (SiC) has directly impacted the expansion of the AC-DC power supply adapter market. Over the past few years, owing to advancements in technology, GaN, and SiC technologies have increasingly become more feasible for commercial applications. At the back of these factors, along with the focus on revamping the electronic sector, the global AC-DC power supply adapter market is expected to attain a market value of US$ 19.5 Bn by the end of 2027.

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High Demand for Energy-efficient Solutions amidst Mounting Environmental Concerns

Over the past decade, environmental concerns across an array of industrial domains have compelled participants in the global AC-DC power supply adapter market to lean toward the development of energy-efficient components. Across the power supplies sphere, energy conservation programs and initiatives have gained considerable popularity. The growing demand for efficient power conversion, while simultaneously complying with regulations is a major challenge for operators within the current AC-DC power supply adapter market landscape. Along with the consistent rise in the need for energy efficiency, focus on minimizing industrial waste to safeguard the environment has gained focus.

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In recent years, research and development activities circling around AC power supply adapters have shifted gears and gained considerable momentum– predominantly driven by environmental concerns and the rising demand for efficient engineering solutions to minimize environmental degradation. While increasing the efficiency levels of AC adapters is expected to remain a key area of interest for players operating in the AC-DC power supply adapter market, minimizing industrial waste is likely to remain imperative.

Advancements in Consumer Electronics and Medical Devices to Drive Demand

Due to large-scale advancements across the consumer electronics sphere, the demand for AC-DC power supply adapters is anticipated to witness considerable boost, particularly in the second half of the forecast period. Several research activities within the current AC-DC power supply adapter market are focused on enhancing the reliability, precision, and development of cost-effective AC-DC power supply adapters. Stringent regulations and new standards laid down by the U.S. Department of Energy wherein the expected efficiency levels are increased and revised no-load dissipation limits are posing as a major challenge for manufacturers in the AC-DC power supply adapter market value chain, particularly in North America.

Medical device power supplies have evolved at an impressive pace in the past few decades. Within the medical devices sector, the demand for safe and consistent power supply is on the rise due to which, innovations related to AC-DC power supply adapters are on the rise. In addition, owing to additional research and development activities within the medical sector, new medical devices are entering the improved patient care segment. The rise in the number of cutting-edge medical devices to treat an array of diseases is expected to create abundant opportunities for participants in the current market for AC-DC power supply adapters.

Supply Chain Challenges Likely to Stall Market Growth

The novel COVID-19 pandemic is expected to hinder the growth of the global AC-DC power supply adapter market particularly in the first half of the forecast period. Uncertainty across the supply chain, particularly in nations such as India and China– two leading producers and exporters of raw materials for AC-DC power supply adapters, is a major factor that is likely to stall market growth in 2020. Trade restrictions coupled with lockdown imposed by government bodies across the world are projected to affect the demand for AC-DC power supply adapters. However, the demand from the healthcare sector could potentially churn in revenues for market participants during the pandemic.