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Converter modules are used in a variety of industries, including IT &telecommunication, healthcare, industrial, and others. For high-voltage applications, converter modules are utilized to convert analogue signals to digital signals and vice versa. It enables components to operate in high-power environments without the need for an external power supply. This aids manufacturers in lowering board costs and simplifying circuit design, leading in the elimination of ground loops and other circuit interference. The global converter module market is experiencing a significant growth and is expected to grow considerably in the next few years.
The converter modules market share is segmented on the basis of type, industry vertical, and region. Based on type, the market is bifurcated into DC-DC converter module, DC-AC converter module, and AC-DC converter module. By industry vertical, it is categorized into IT & Telecommunication, HealthCare, Aerospace & Defense, Industrial, Automotive, Transportation & Logistics, and others. Based on region, the market is analyzed across North America (the U.S. and Canada), Europe (Germany, the UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key players operating in the converter modules market include Vicor Corporation, Delta Electronics Inc., Flex Ltd., ROHM Semiconductor, Advantech Co. Ltd., Mitsubishi Electric Corporation, TDK Corporation, OMRON Corporation, FUJITSU, and STMicroelectronics. These players adopt collaboration, partnership, and agreement as their key developmental strategies to increase revenue of the converter modules industry and develop new products for enhancing product portfolio.
COVID-19 Scenario Analysis
The COVID-19 pandemic forced a quick lockdown in many regions of the world to prevent the virus from spreading, resulting in the rapid closure of factories, shops, and other businesses. The global market for non-essential products has suffered from a rapid reduction in demand and supply, as well as travel limitations. The pandemic has had a substantial negative influence on the economy as a result of less work being done, shortage of workers, and less demand. Additionally, the travel ban has resulted in a shortage of raw materials, which has caused manufacturing to halt. However, as the lockdown has been lifted and vaccination efforts have begun in several nations, workflow has begun to increase, assisting market actors in making a comeback. During the forecast period, government regulations and support for economic growth are likely to boost the value of the converter modules market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The global market for converter modules has developed due to rise in demand for improved power-saving solutions and rapid advancements in digital power management &control technology. Furthermore, advancements in advanced driver assistance system (ADAS) technology, vehicle-to-all (V2X) communication modules, body electronics, and LED lighting have provided manufacturers with opportunity to design extremely efficient converter modules.
Growth in need for dependable power supply units for usage in out-patient care equipment, as well as rise in need for energy-efficient appliances globally, are expected to propel Converter Modules Market expansion during the forecast period.
The Global Converter Module Market Trends
Increase in Demand for Isolated DC-DC Converter
Isolated DC-DC converters are employed in a wide range of sensitive applications, including power metering systems, healthcare systems, and high-voltage circuits. These components have a high resistance to noise and inference, resulting in a cleaner DC power source for the load. Medical equipment for example, is a high-relatability component that necessitates compact DC-DC converters with 1 or 2W output power that are unregulated due to the high isolation value and tiny case size, which are more important than a precise output voltage.
Rapid Growth in Telecommunication Industry
With the rapid development of smartphones and the 4G & 5G infrastructure in the communication industry, the demand for power supply for communication equipment has increased at a rapid rate, due to which demand for converter modules has surged. Japan, China, and South Korea, for example, are working to build 5G base transceiver station to meet the growth in demand for connectivity.
Key Benefits of the Report
Questions Answered in the Converter Modules Market Research Report
Key Market Segments
Key Market Players