The global Power Device Analyzer Market size is projected to showcase substantial growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is predicted to surpass a valuation of US$ 468.9 million in 2023. It is anticipated to hit a valuation of US$ 778.5 million by 2033. The market is estimated to showcase a modest CAGR of 5.2% from 2023 to 2033.
A high revenue stream for power device analyzers is anticipated to emerge from the consumer sector. Dynamic power device analyzers are useful for devices like fans, refrigerators, smartphones, computers, TVs, air conditioners, cutting-edge home systems, smartwatches, and other consumer electronics.
Increased demand for electronic goods and technical breakthroughs calls for intricate test and measurement solutions. The demand for high-frequency power device analyzers is projected to increase as the need for high-speed data connection grows. As many people use smartphones, tablets, laptops, and other devices, network capacity might expand, which is projected to boost market expansion. Another aspect that promotes power device analyzers’ adoption is their affordability.
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Energy-efficient industrial electronics that can decrease waste and boost productivity are in high demand. In order to reduce dependence on fossil fuels and produce renewable energy, there is also a rising shift toward electric and hybrid automobiles.
Power device analyzers are being used frequently by the renewable energy sector. The market demand is rising as a result of governments emphasizing creating solar and wind energy projects. To reduce carbon emissions and achieve the objectives of the Paris Agreement, the future energy mix is anticipated to rely on renewable energy. As a result, several solar and wind energy projects are in the works or scheduled in a number of countries.
With investments from both the public and commercial sectors, the renewable energy industry is expanding significantly.
Key Takeaways from the Power Device Analyzer Market:
- The global power device analyzer market expanded at a modest CAGR of 4% from 2017 to 2022.
- In 2017, the global market size stood at US$ 369.9 million.
- In 2022, the global market size crossed US$ 450.0 million.
- The below 1000 A segment is likely to capture about 64% of the global power device analyzer market share in 2023.
- The telecommunication segment is projected to capture nearly 39% of the global power device analyzer market in 2023.
- The United States power device analyzer market is estimated to capture 23% of the global market share.
- China is anticipated to capture 6.1% of the global market share.
- India’s power device analyzer market is predicted to occupy 6.6% of the global market share.
- Japan is projected to attain 6.7% of the global market share.
Recent Development Observed by FMI:
- In May 2022, Keysight Technologies introduced their next-generation power device analyzer. Customers can evaluate entire power modules more quickly and easily with the new Double-Pulse tester (DPT).
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Power Device Analyzer Market Segmentation
By Type:
- Both AC and DC
- AC
- DC
By Current:
- Below 1000 A
- Above 1000 A
By End-user:
- Automotive
- Energy
- Telecommunication
- Consumer Electronics and Appliances
- Medical
- Others – Aerospace, Defense, and Government Services
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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