Global AC-DC Power Adapter Market Size to grow to USD 22.79 billion by 2028
The Global AC-DC Power Adapter Market Size is projected to grow from USD 13.25 billion in 2020 to USD 22.79 billion by 2028 at a CAGR of 9% during the forecast period.
AC-AC-DC External Plug-in Power Adapter adaptor is an external power supply. It's intended for use with battery-powered devices that don't have access to an external power source. The AC-AC-DC External Plug-in Power Adapter adapter ensures user safety by converting high voltage to low voltage for devices such as electric irons, hair dryers, and other similar items. Adaptability, durability, and considerable utility as a safety device are all features of AC-AC-DC External Plug-in Power Adapter adapters that make them appealing. All of these elements are aiding the growth of the AC-AC-DC External Plug-in Power Adapter adapter market. Moreover, AC-DC power adapters are utilized in a variety of industries, including medicine, electronics, automobiles, and home appliances. The market for AC-DC converters is growing due to the increasing deployment of wide-band-gap technologies such as silicon carbide and gallium nitride.
COVID-19 has had a significant impact on the world economy, affecting a variety of industries. The COVID-19 pandemic has had an influence on the worldwide supply chain, causing a drop in several sectors, including the AC-DC power adapters industry.
Request Free Sample To Learn More About This Report
Due to supply chain uncertainties caused by the COVID-19 epidemic, demand for AC-DC power adapters has fallen, notably in China and India, which are key producers and exporters of raw materials for AC-DC power adapters. However, diversified and innovative AC-AC-DC External Plug-in Power Adapter adapter applications, such as consumer electronics, lighting, telecommunications, food & beverages, transportation, medical & healthcare, military & aerospace, and industrial, will drive the AC-AC-DC External Plug-in Power Adapter adapter market growth during the forecast period.
Technological Advancements in Medical Devices and Consumer Electronics to Drive Growth
The need for AC-AC-DC External Plug-in Power Adapter adapters is expected to increase significantly in the second half of the forecast period, owing to large-scale improvements in the consumer electronics sector. Several current research projects in the AC-AC-DC External Plug-in Power Adapter adapter market are aimed at improving the dependability, precision, and development of cost-effective AC-AC-DC External Plug-in Power Adapter adapters. The US Department of Energy's new regulations and standards, which include increased expected efficiency levels and updated no-load dissipation limitations, are creating a significant challenge for manufacturers in the AC-AC-DC External Plug-in Power Adapter adapter market value chain, particularly in North America.
Growing Demand for Energy-efficient Electronic Devices to Boost Market
Over the last two decades, the power supply industry has seen significant advancements. Growing demand for AC-AC-DC External Plug-in Power Adapter adapters for usage in low-voltage high-current processor applications is a prominent driver that will likely propel the AC-AC-DC External Plug-in Power Adapter adapter market growth during the forecast period. Due to the shortcomings in the traditional electronic load caused by the relatively low voltage, technologically improved AC-AC-DC External Plug-in Power Adapter converters have steadily paved the way. Furthermore, new advancements in the design of AC-AC-DC External Plug-in Power Adapter adapters have given the global AC-AC-DC External Plug-in Power Adapter adapter market a significant boost.
Asia Pacific is the largest market for AC-DC power adapter due to the increasing digitization trend in countries such as India and China. Consumer products such as smartphone devices, set-top boxes, HD TVs, entertainment systems, and desktops and laptops are all popular. As a result, the regional market for power adapters is expected to rise.
Request Free Sample To Learn More About This Report
North America is the second-largest market for AC-DC power adapter due to smartphones and other mobile devices are increasingly connecting people in the United States to the digital world. The ratio of smartphone owners is steadily increasing, presenting prospective growth opportunities for the AC-DC power adaptor.
Europe is expected to be the third-largest market for AC-DC power adapter due to Laptops, workstations, and other devices employ AC-DC power adapters to optimize voltage conversion and enhance energy efficiency. The rising demand for consumer electronics devices in nations such as Germany, the United Kingdom, Russia, and others is driving the use of AC-DC power adapters in the region. In addition, the growing electrification of rural areas is fuelling the region's AC-DC power adapter market.
KEY INDUSTRY DEVELOPMENTS:
In February 2020, Murata Power Solutions expanded its D1U54 Series with the 2000-W-rated D1U54-x-2000-12, AC-DC, and DC-DC front-end power supplies for ICT (information and communication technology) and networking applications.
In September 2018, Delta Electronics, Inc. has formed alliances and collaborations with firms whose products complement its own. For example, the business announced collaboration with GM to develop a 400-kW charging system that can provide 180 miles of range in less than 10 minutes.
Read More Details On This Report: