Power Device Analyzer Market Share Grow at 4.8% CAGR, Forecasted to Reach USD 696.1 Million by 2030: Global Report by Polaris Market Research
The global power device analyzer market size is expected to reach USD 696.1 million by 2030 according to a new study by Polaris Market Research.
The growing investment in renewable energy resources, coupled with the increasing focus on energy savings, is fostering industry growth in the forecasting years. Additionally, the rising number of stringent norms for the execution of the energy audits, emergence of the Internet of Things (IoT), as well as the rapid penetration of the market for boosting the performance of the energy-efficient devices is surging the global demand in the forthcoming years.
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Based on the current, the below 1000A segment is dominating the global industry with the highest revenue shares owing to the growing demand for electronic gadgets due to the rapid industrialization and urbanization. Whereas the above 1000A segment is showing the considerable growth rate that leads the product demand in the forthcoming scenario. The growing adoption of electronic devices in the industries like aerospace & defense, energy, automotive, wireless communication, and healthcare equipment manufacturing is augmenting the demand of the segment in the near future.
The major products are adopted in the energy, and automotive sectors are AC/DC converters, UPS, PWM Inverters, solar arrays, and high-frequency electronics. Thus, these products require power analyzers for testing the quality of energy supplied and several further parameters associated with the power supply. A growing focus on energy savings is creating a constant demand across various industries globally, which is likely to propel industry growth. Several regulatory and international bodies are raising awareness and encouraging energy savings.
In 2017, The European Commission deduced four scenarios for analyzing the impacts of energy efficiency developments at various levels of goal by 2030. Each setup model leads to a positive change in GDP, from a 0.1% to a 2.0% increase in GDP for energy efficiency. Thereby, these analyzers act as a significant role in boosting the efficiency of systems by assisting in scrutinizing the distortion in energy supply.
Major participants such as Texas Instruments, Carlo Gavazzi, Circutor, Dewetron, Fluke Corporation, Arbiter Systems, Hioki E.E. Corporation, Zes Zimmer, Iwatsu Electric, Yokogawa Electric Corporation, Magtrol, Newtons4th, Rohde & Schwarz, Vitrek, and Keysight Technologies are some of the key players operating in the global market.
For instance, in May 2021, Iwatsu introduced its Curve Tracer CS-8000 series, which is equipped with a high-voltage source of up to 5 kV and a high-current source of 2 kA. It resents features like very small current measurement capabilities, gate pattern, and pulse output, along with it also supports design assessment of wideband-gap semiconductors such as SiC and GaN.
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Polaris Market Research has segmented the power device analyzer market report on the basis of type, current, end-use, and region:
Power Device Analyzer, Type Outlook (Revenue – USD Million, 2018 – 2030)
- Both AC and DC
Power Device Analyzer, Current Outlook (Revenue – USD Million, 2018 – 2030)
- Below 1000 A
- Above 1000 A
Power Device Analyzer, End-Use Outlook (Revenue – USD Million, 2018 – 2030)
- Consumer Electronics & Appliances
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