In a recent published report, Kenneth Research has updated the market report for Power Supply in Package (PSP) and Power Supply on Chip (PSoC) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Power Supply in Package (PSP) and Power Supply on Chip (PSoC) Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Power module provides the containment unit for several power components, usually semiconductor devices, which are used to regulate the current flow in electronic devices and are used in multiple industries. Power modules are used in automotive, medical devices, communication infrastructure, and industrial applications among several others. The market for power module is projected to grow with a CAGR of 9.4% over the forecast period, i.e., 2018-2027. This can be attributed to the increasing focus on applications involving higher input voltage range and growing usage in communications infrastructure.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
The market is segmented by product, by end-use applications, and by region. Based on the product, the market is segmented into PSiP, PwrSoC, and others, out of which, the segment for PSiP is predicted to hold a significantly larger market share as compared to PwrSoC with a 15.3% share by 2027. This can be attributed to the shorter design process of these power modules. On the basis of end-use applications, the market is segmented into automotive, industrial, medical devices, communication infrastructure, and others.
The other segment is estimated to hold the largest market share by the end of the forecast period, while the industrial segment is predicted to observe the highest growth over the forecast period. The rising demand for compact, lightweight and efficient power supplies for enhancing the implementation of the Industrial Internet of Things (IIoT) is a significant factor resulting in the growth of this segment.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Based on the region, the global power module market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific is anticipated to observe the highest growth rate on account of the presence of large end-use manufacturing industries in the region. Moreover, the market in North America is estimated to follow with the second-highest growth rate and witness a market value of about USD 2,715.0 million by 2027 as a result of the presence of major power modules Original Equipment Manufacturers (OEMs) in the region.
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Some of the key industry leaders in the global power module (PSiP and PwrSoC) market are Intel, Infineon Technologies, Renesas Electronics Corporation, STMicroelectronics, Renesas Electronics Corporation, Monolithic Power Systems, Analog Devices, ROHM, Vicor Corporation, Mitsubishi Electric Corporation, TRACO Electronic AG, Schneider Electric and Microsemi.
Table of Content:
- Executive Summary
- Research Methodology
- Global Market Size (USD Million) and Forecast
- Market Dynamics & Its Impact Analysis
- Global Market Segmentation Analysis
- Porter’s Five Force Model Analysis
- Competitive Landscape
- Company Overview
- Financial Performance
- Key Products
- Business Strategy
- Recent Developments
- SWOT Analysis
Key Answers Captured in Report?
- Which geography would have better demand for products/services?
- What are the strategies adopted by big players in the regional market?
- Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
- What is the current & expected market size in the next five years?
- What is the market feasibility for long term investment?
- What opportunity the country would offer for existing and new players in the market?
- What is the risk involved for suppliers in the geography?
- What factors would drive the demand for the product/service in the near future?
- What is the impact analysis of various factors in market growth?
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