Switch Mode Power Supply (SMPS) Market 2024 Competitive Overview, Geographical Segmentation, Industry Size & Share

A switch mode power supply (SMPS) is an electronic circuit that converts power with the help of capacitors or inductors. They supply power when the switching device is in non-conduction state or with the use of switching devices that turn on/off at high frequencies. Switch mode power supplies (SMPS) are widely used in a variety of electronic equipment including machine tool products, audio/video products, computers, security systems, and other sensitive equipment that require stable and efficient power supply. Based on type of output and input voltages, switch mode power supplies (SMPS) are classified into AC to DC, DC to DC, DC to AC, and AC to AC. Use of switch mode power supply (SMPS) offers several advantages in terms of low heat generation, high-efficiency voltage conversion, and significant anti-interference capabilities. Furthermore, switch mode power supplies (SMPS) are important for use in electronic projects and several other applications that consume large amounts of power.

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Switch Mode Power Supply (SMPS) Market: Trends and Opportunities

The global switch mode power supply (SMPS) market is primarily driven by rising demand for consumer electronics among end-users. This is primarily because switch mode power supply (SMPS) have higher efficiency than linear regulators, as the switching transistor dissipates little power when acting as a switch. Increasing need to manage the size and weight of the electronic circuit of electronic devices is also projected to fuel the demand for switch mode power supplies (SMPS) across the world in the next few years. This is primarily because switch mode power supply (SMPS) are smaller in size and lighter in weight. Furthermore, increasing demand for better power efficiency is another key factor propelling the growth of global switch mode power supply (SMPS) market in the next few year. Moreover, increasing need for wide output range of power switches is anticipated to fuel the demand for switch mode power supplies (SMPS) across the world in the near future, as these supplies have higher output range than those that come with the older technology. However, complex circuit design and higher costs of switch mode power supply (SMPS) than linear supplies are key factors that would hinder the global switch mode power supply (SMPS) market during the forecast period.

Switch Mode Power Supply (SMPS) Market: Segmentation

The global switch mode power supply (SMPS) market can be segmented based on type, application, and region. In terms of type, switch mode power supply (SMPS) the market can be divided into DC-DC converter, forward converter, flyback converter, and self-oscillating flyback converter. Based on application, the global switch mode power supply (SMPS) market can be classified into consumer electronics, industrial, communication, mobile phone chargers, automobiles, medical equipment, vehicles, railway system, and security system.

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In terms of region, the global switch mode power supply (SMPS) market can be segmented into Europe, South America, Asia Pacific, North America, and Middle East & Africa. North America is estimated to hold a major share of the global switch mode power supply (SMPS) market during the forecast period. North America is anticipated to witness high adoption of switch mode power supplies (SMPS) in the near future, due to significant growth of the electronics industry in the U.S. and Canada. The market in Asia Pacific is projected to expand significantly during the forecast period. Demand for switch mode power supplies (SMPS) in the region primarily comes from countries such as Australia, India, Japan, and China. China holds the largest share of the market in Asia Pacific.

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Switch Mode Power Supply (SMPS) Market: Key Players

Major players operating in the global switch mode power supply (SMPS) market are Schneider Electric SE, Siemens AG, Omron Corporation, Phoenix Contact India Private Limited, TDK-Lambda Corporation, Delta Electronics Group, ABB Ltd, LITE-ON Technology Corporation, Salcomp PLC, MEAN WELL Enterprises Co., Ltd., COSEL ASIA LTD, and Weidmüller Interface GmbH & Co.

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