Allied Market Research recently released a report on the global switching mode power supply market. The report indicates that the market was valued at $12.7 billion in 2024 and is expected to reach $16.4 billion by 2032, with a compound annual growth rate (CAGR) of 2.8% from 2025 to 2032.
The growth of the switching mode power supply market can be attributed to the increasing demand for more accurate and faster data translation in various applications. The rise of smart devices, wireless systems, and the adoption of IoT technologies have led to a surge in demand for analog-to-digital converters (ADCs). These ADCs are essential in automotive electronics, industrial automation, and consumer electronics, thus driving market expansion.
Moreover, the ongoing digitalization efforts across different industries create a continuous need for high-speed, high-resolution data collection, highlighting the importance of ADCs in modern electronic systems. Advancements in semiconductor technology have also contributed to greater energy efficiency, further fueling industry growth.
The report covers various segments of the switching mode power supply market such as type, technology, end user, and region. The AC-DC converter segment dominated the market in 2023 due to its wide application across sectors like consumer electronics, industrial automation, and telecommunications. Advancements in power conversion technologies have enhanced the efficiency of AC-DC converters, driving their adoption.
In terms of technology, the current mode PWM segment led the market in 2023, known for its performance under dynamic load situations. It offers improved load management, rapid transient response, and increased stability, making it ideal for precision-demanding applications in consumer electronics and industrial systems.
The consumer electronics segment was the largest end-user segment in the market in 2023, primarily due to the growing demand for personal and home electronics. The proliferation of smartphones, laptops, gaming consoles, and smart home devices necessitates reliable and efficient power supply solutions. Innovations in consumer electronics, such as higher processing power and advanced display technologies, further drive the demand for advanced SMPS units.
Regionally, Asia-Pacific held the largest market share in 2023, attributed to its role as a global manufacturing hub for electronics and semiconductors. Countries like China, Japan, South Korea, and Taiwan are home to major electronics manufacturers, leading to significant demand for SMPS units. The region’s rapid industrialization, urbanization, and rising disposable incomes also contribute to the demand for efficient power management solutions.
Key players in the global switching mode power supply market include Delta Electronics, Lite-On Technology, Chicony Power, TDK Corporation, and others. These players have adopted various strategies such as new product launches, collaborations, and expansions to maintain their market dominance.
Overall, the report provides valuable insights into the switching mode power supply market, highlighting key trends, drivers, and opportunities for stakeholders. It offers a comprehensive analysis of market segments, competitive landscape, and recent developments in the industry. The continuous innovation and technological advancements in the field are expected to drive further growth in the switching mode power supply market.
