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Power supply market is expected to be worth USD 34.92 billion by 2023, growing at a CAGR of 6.7% from 2018 to 2023

Power Supply Market is expected to Witness the Highest Technological Growth by 2023<br>https://www.marketsandmarkets.com/Market-Reports/power-supply-market-52394163.html

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Power supply market is expected to be worth USD 34.92 billion by 2023, growing at a CAGR of 6.7% from 2018 to 2023

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  1. MarketsandMarkets Presents Power Supply Market is expected to Witness the Highest Technological Growth by 2023 Power Supply Market by Output Power, Product Type, Vertical (Lighting, Consumer Electronics, Telecommunications, Transportation, Food & Beverages, Medical & Healthcare, Military & Aerospace, Industrial), and Geography - Global Forecast to 2023 https://www.marketsandmarkets.com/Market-Reports/power-supply-market-52394163.html

  2. The power supply market is expected to be worth USD 34.92 billion by 2023, growing at a CAGR of 6.7% from 2018 to 2023. Factors such as growing adoption of home and building automation systems, emerging telecommunications sector, and increasing demand for energy-efficient devices/appliances are driving the growth of the power supply market. The increasing requirement of power supply in medical and healthcare devices will provide opportunities to players in this market. The market for power supplies with low output power (500 W and below) is expected to grow at the highest CAGR during 2018–2023. The growth of power supplies with low output power is mainly due to the increasing use of AC-DC power supplies with low output power in telecommunications and consumer electronics. More than 3 million products supplied across the world operate in this power range and are designed to ensure low current leakage and protection against short circuits, overvoltage, and overload issues of high-wattage products. Browse 85 market data Tables and 38 Figures spread through 152 Pages and in-depth TOC on "Power Supply Market - Global Forecast to 2023"

  3. Many telecommunication and lighting devices, medical equipment, and consumer electronics, as well as a few industrial applications, such as home and building automation systems, operate in this power range due to the benefits such as reduced power control system size, weight, and cost; this also makes the consumption of electricity more efficient. Hence, owing to the increasing demand for energy-efficient devices/appliances and advancements in telecommunications and medical sectors will upsurge the growth of low output power AC-DC power supplies. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=52394163 The power supply market for AC-DC power supplies is expected to grow at the highest CAGR from 2018 to 2023. The growth of this type of power supply can be attibuted to its wide usage in industrial and healthcare applications. The AC-DC power supplies are available in different types such as enclosed/encapsulated, DIN rail, open frame, PCB mount, configurable, and others. Other types comprise power supplies such as panel mount, specific purpose, chassis mount, front end type, and external type power supplies.

  4. The power supply market for lighting vertical is expected to grow at the highest CAGR during the forecast period. In the lighting industry, LED lighting has a significant growth potential owing to the increasing consumer demand for energy-efficient lighting systems, declining prices of LEDs, and growing penetration of LEDs as a light source in several lighting applications. LED lighting is a significant consumer of power supplies, thereby driving the growth of the power supply market in the near future. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=52394163 The power supply market in APAC is expected to grow at the highest CAGR during the forecast period. Moreover, the market in APAC is likely to continue to hold the largest size owing to the increasing demand for consumer equipment, such as portable healthcare electronics and white goods. Increasing digitization and automation in various sectors is likely to generate demand for power supplies in APAC.

  5. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  6. Contact Us Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:newsletter@marketsandmarkets.com For More Info: https://www.marketsandmarkets.com/PressReleases/power-supply.asp

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