According to a research report by Stratview Research, the DC Power Supplies market is likely to grow from USD 375.94 million in 2021 to USD 518.49 million by 2028 at an impressive CAGR of 4.64% during the forecast period. The major factors contributing to the growth of the market for DC power supplies are the growing wireless communication & infrastructure and aerospace & defense sectors in countries such as the US and Canada and the mounting demand for industrial automation and consumer electronic sectors in the developing economies such as India, China, and Japan.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Segments' Analysis
Based on the type, the market is segmented as AC-DC and DC-DC. The AC-DC segment is projected to be the faster-growing segment during the forecast period, owing to rise in demand for AC-DC power supplies for various testing & measurement applications of medical & industrial equipment, which is expected to drive the growth of this segment of the DC power supplies market during the forecast period.
Based on the application type, the DC power supplies market is segmented as aerospace, defense & government services, automotive, energy, wireless communication & infrastructure, and others. The automotive segment commands the market as some applications such as power battery testing, fuel cell testing, AC/DC charging station, DC-DC converter testing, on-board chargers & charging interface testing, and high-power battery testing, are performed employing DC power supplies.
In terms of regions, North America is estimated to be the largest as well as the fastest-growing market for DC power supplies during the forecast period, owing to the growing wireless communication & infrastructure and aerospace & defense segments of countries such as the US & Canada, which are likely to accelerate the demand for DC power supplies market in the region.
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