Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Global Digital Power Conversion Market Overview
Power conversion refers to the altering of electric energy from one form to another. Digital power conversion is used to transform electric energy from analog current to digital current or digital current to analog current. Power converters such as voltage convertors are used for the conversion of electrical energy. These converters transform the frequency or voltage of the electric current as per the requirement. Consumers worldwide are inclining towards the digital power conversion systems. The market share of the digital power conversion product has been rapidly rising as compared to its counterpart i.e. analog system. The market share of the digital power conversion market is increasing due to its growing use in the power system designs. Moreover, the advantages offered by digital power conversion over analog system are increasing the demand for digital power conversion system. The key advantages it offers over the analog system are the flexibility and control of power supplies.
Market Size and Forecast
The market of digital power conversion system is anticipated to witness a robust growth over the forecast period i.e. 2017-2024. This can be attributed to various factors such as rising demand for digital power conversion system and government regulations on power supply systems.
North America captured major share in global digital power conversion market followed by Europe. North America accounted for the largest revenue share in 2016 and is anticipated to continue its dominance over the forecast period. The rising disposable income and government regulations and initiatives are believed to uplift the market of digital power conversion system in North America.
Further, Europe is anticipated to witness a positive growth over the forecast period. This is expected to positively impact the growth of the global digital power conversion market.
Moreover, Asia-Pacific is expected to showcase a significant growth over the forecast period and bolster the global digital power conversion market. China and Japan are the major countries which are anticipated to garner the growth of global digital power conversion market. In the terms of production and supply, China is the key player owing to the cheap manufacturing cost.CLICK TO DOWNLOAD FREE SAMPLE REPORT
Market Segmentation
Our-in depth analysis of the global digital power conversion market includes the following segments:
Product Type
Application
By Region
Global digital power conversion market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Increasing disposable income and quickly developing semiconductor industry are expected to drive the growth of digital power conversion market over the forecast period. Further, increasing use in the power system design is anticipated to be the dynamic growth factor of the global digital power conversion market. Further, technological progress focused at improving product performance and costs of the product are the major factor expected to drive the global power conversion market. Moreover, stringent government regulation on power supply is anticipated to garner the growth of global power conversion market.
However, continuous usage of existing analog control loop is believed to dampen the growth of global digital power conversion market. In addition to that, environmental factors, safety concerns and operational expenses are anticipated to restraint the growth of global digital power conversion market.
Key Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global digital power conversion market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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