The global power device analyzer market is expected to experience significant growth from 2023 to 2033. According to a research report by Future Market Insights, the market is projected to exceed USD 468.9 million in 2023 and reach USD 778.5 million by 2033, with a modest CAGR of 5.2% during this period.
A substantial revenue stream for power device analyzers is anticipated to arise from the consumer sector. Dynamic power device analyzers are beneficial for various devices, including fans, refrigerators, smartphones, computers, TVs, air conditioners, advanced home systems, smartwatches, and other consumer electronics.
The rising demand for electronic goods and technological advancements is driving the need for complex test and measurement solutions. As the demand for high-speed data connections increases, so too does the need for high-frequency power device analyzers. The widespread use of smartphones, tablets, laptops, and other devices is expected to enhance network capacity, further fueling market growth. Additionally, the affordability of power device analyzers contributes to their increased adoption.
There is a growing demand for energy-efficient industrial electronics that minimize waste and enhance productivity. Furthermore, a shift towards electric and hybrid vehicles is gaining momentum as efforts to reduce reliance on fossil fuels and promote renewable energy increase.
The renewable energy sector is increasingly utilizing power device analyzers, with market demand rising as governments focus on developing solar and wind energy projects. To meet carbon reduction goals and align with the Paris Agreement, the future energy mix is expected to rely heavily on renewable sources. Consequently, numerous solar and wind energy initiatives are either underway or planned in various countries, supported by investments from both public and private sectors.
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 USD 369.9 million.
- In 2022, the global market size crossed USD 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.
Competitive Landscape:
The market’s top players in the power device analyzer market include Fortive (U.S.), Keysight Technologies (U.S.), Iwatsu (Japan), Yokogawa (Japan), Hioki E.E. Corporation (Japan), Rohde & Schwarz (Germany) and Newtons4th (U.K.).
Key Players in Power Device Analyzer Market:
- Fluke Corporation (United States)
- Keysight Technologies (United States)
- Yokogawa (Japan)
- Iwatsu (Japan)
- Hioki E E Corporation (Japan)
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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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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