Digital Power Conversion Market: Introduction
- Digital power conversion is used to transform electric energy from analog current to digital current or digital current to analog current.
- Digital power conversion is the energy conversion system under which the digital control techniques are useful for varied power management applications. The use of digital power conversion is increasing to ensure appropriate running of digital processes throughout residential and industrial sectors.
- The digital power conversion system is an advanced digital control method which is helpful in various power controlling applications.
- Utilization of digital power conversion guarantees proper running of advanced digital procedures all through industrial and residential sectors.
Rise in Demand for Digital Power Conversion in Automotive Industry
- Demand within the global market for power conversion has been rising to ensure seamless running of digital processes across industrial and residential sectors.
- Digital power conversion product applications are on the rise in the automotive industry. Production of power trains, and automatic and self-driving cars is increasing with advanced technologies, due to which, demand for digital power conversion products is expected to rise.
- Digital power conversion is heavily used in communication infrastructure, which drives the growth of the market.
- In addition, use of efficient digital power converters is expected to gain momentum in the automotive industry, where DC to AC converters are majorly used to charge the batteries of vehicles. This factor is anticipated to provide ample growth opportunities to players operating in the digital power conversion market.
- Advantages offered by digital signals over analogue signals have also created commendable growth opportunities within the global market for power conversion. Hence, the market for digital power conversion is predicted to tread along an ascending growth path in the years to come.
- Moreover, the control and flexibility offered by digital power conversion systems has also led to the growth of the market.
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North America to Lead the Global Digital Power Conversion Market
- In terms of region, the global digital power conversion market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America accounted for largest market share in the global digital power conversion market and is anticipated to continue its dominance over the forecast period. Rising disposable income and government regulations and initiatives are likely to uplift the digital power conversion market in North America.
- Europe is anticipated to witness positive growth in the market over the forecast period. Huge demand for cloud computing solutions will drive the development of the digital power conversion market within the region.
- Key digital power conversion suppliers are planning to extend their operations across Asia Pacific nations such as China and India. Rising expenditure on digitalization by governments in these nations have driven various organizations to improve their technology. Besides, large manufacturing units in India are increasingly targeting local production instead of bringing in products from foreign countries.
- Additionally, innovations within the smartphone industry are rising. This driving factor is expected to augment the development of infrastructure and telecommunication sectors, consequently enabling notable development opportunities in the regional digital power conversion market in the upcoming years.
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Key Players in the Global Digital Power Conversion Market Include
- Cirrus Logic Inc.
- Cosel Co. Ltd.
- Ericsson AB
- GE Power Conversion
- Microchip Technology Inc.
- Infineon Technologies AG
- ROHM Semiconductor
- STMicroelectronics N.V.
- Texas Instruments Incorporated
- TDK Corporation
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