Power supply market is expected to be worth USD 34.92 billion by 2023, growing at a CAGR of 6.7% from 2018 to 2023

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MarketsandMarkets Presents

Power Supply Market is expected to Witness the
Highest Technological Growth by 2023 Power
Supply Market by Output Power, Product Type,
Vertical (Lighting, Consumer Electronics,
Telecommunications, Transportation, Food
Beverages, Medical Healthcare, Military
Aerospace, Industrial), and Geography - Global
Forecast to 2023 https//www.marketsandmarkets.c
om/Market-Reports/power-supply-market-52394163.htm
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The power supply market is expected to be worth
USD 34.92 billion by 2023, growing at a CAGR of
6.7 from 2018 to 2023. Factors such as growing
adoption of home and building automation systems,
emerging telecommunications sector, and
increasing demand for energy-efficient
devices/appliances are driving the growth of the
power supply market. The increasing requirement
of power supply in medical and healthcare devices
will provide opportunities to players in this
market. The market for power supplies with low
output power (500 W and below) is expected to
grow at the highest CAGR during 20182023. The
growth of power supplies with low output power is
mainly due to the increasing use of AC-DC power
supplies with low output power in
telecommunications and consumer electronics. More
than 3 million products supplied across the world
operate in this power range and are designed to
ensure low current leakage and protection against
short circuits, overvoltage, and overload issues
of high-wattage products. Browse 85 market data
Tables and 38 Figures spread through 152 Pages
and in-depth TOC on "Power Supply Market - Global
Forecast to 2023"
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Many telecommunication and lighting devices,
medical equipment, and consumer electronics, as
well as a few industrial applications, such as
home and building automation systems, operate in
this power range due to the benefits such as
reduced power control system size, weight, and
cost this also makes the consumption of
electricity more efficient. Hence, owing to the
increasing demand for energy-efficient
devices/appliances and advancements in
telecommunications and medical sectors will
upsurge the growth of low output power AC-DC
power supplies. Ask PDF Brochure https//www.mar
ketsandmarkets.com/pdfdownloadNew.asp?id52394163
The power supply market for AC-DC power
supplies is expected to grow at the highest CAGR
from 2018 to 2023. The growth of this type of
power supply can be attibuted to its wide usage
in industrial and healthcare applications. The
AC-DC power supplies are available in different
types such as enclosed/encapsulated, DIN rail,
open frame, PCB mount, configurable, and others.
Other types comprise power supplies such as panel
mount, specific purpose, chassis mount, front end
type, and external type power supplies.
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The power supply market for lighting vertical is
expected to grow at the highest CAGR during the
forecast period. In the lighting industry, LED
lighting has a 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 power supply market in the near
future. Request Free Sample Pages https//www.ma
rketsandmarkets.com/requestsampleNew.asp?id523941
63 The power supply market in APAC is expected
to grow at the highest CAGR during the forecast
period. Moreover, the market in APAC is likely to
continue to hold the largest size owing to the
increasing demand for consumer equipment, such as
portable healthcare electronics and white goods.
Increasing digitization and automation in various
sectors is likely to generate demand for power
supplies in APAC.
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