The global power device analyzer market is projected to reach USD 527 million by 2024 from an estimated market size of USD 430 million in 2019, at a CAGR of 4.2% during the forecast period. The factors driving the growth for power device analyzer is due to the growing adoption for high-performance and power-efficient devices for consumer and healthcare sector along with investments in electric vehicles due to the concern towards hazardous environmental affect.
Key market players -
Some of the top players in the power device analyzer market are Keysight Technologies (US), Yokogawa (Japan), Fortive (US), Rohde & Schwarz (Germany), Hioki E.E. Corporation (Japan), Newtons4th (UK), and Iwatsu (Japan).
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The consumer electronics & appliances segment is expected to be the most significant power device analyzer market, by end-user, during the forecast period
The consumer segment is projected to be the most significant power device analyzer market, by end-user, during the forecast period. It has the largest share of the power device analyzer market owing to the growth in the demand for consumer electronics products such as air-condition, smartphones, refrigerators, laptops, smart TV, and smartwatch. The rapid growth in the overall population along with people becoming tech-savvy, will increase the demand for consumer electronics leading to an increase in the demand for power device analyzer.
The both AC and DC segment is expected to be the largest power device analyzer market, by type, during the forecast period
The both AC and DC segment is expected to grow at the highest rate during the forecast period. Both AC and DC power device analyzer are majorly used to perform component level analysis as well as system-level analysis. It is majorly used to test products such as HID lighting, Lighting consumer product, ballast testing, engineering labs, solar pane, electric vehicle, wireless battery charging, three-phase motors & drives. Growing demand for electric cars along with an investment towards the solar industry will drive the need for both AC and DC power device analyzer.
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Asia Pacific is expectedto dominate the global power device analyzer market during the forecast period.
In this report, the power device analyzer market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to lead the market during the forecast period.
The growing demand for consumer electronics and increasing industrial automation in the countries like India & Japan along with stringent regulations and standards for the use of electronics in developing countries such as China, Japan, and India are the driving factors for the growth of power device analyzer market in Asia Pacific.
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