Power converter market is anticipated to grow at a higher CAGR due to proliferated uses. End-user applications include LED lights, static electricity backup and chipsets etc. The task of a power converter is to control and process the flow of electric energy by supplying current and voltage in the form which is optimally best for user loads. Technically, energy is converted in electromechanical converters and today with the development and mass production of power semiconductors, static power converters and applications are much smaller in size and lighter in weight due to their static and dynamic performances.

Commercially, with the growing number of sophisticated applications the power converter market gains a positive traction during the forecast period. The key driving factors responsible for the growth of power converter market includes rising concern towards consumption of energy, inception of advanced power saving infrastructure, rising demands by intercommunication and telecommunications industry. Additionally, rise in development of power management and control technologies are anticipated to drive the global market during the forecast period.

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power converter market is segmented on the basis of output number into single output, dual output and three output. “Three output” segment is anticipated to grow at a higher CAGR during the forecast period owing to the demand of multiple output for several on-board applications. On the basis of input voltage, the power converter market is segmented into 70V.>70V is anticipated to grow at a higher CAGR owing to efficiency of power future telecommunication and Datacom systems such as 3G, 4G and 5G systems.

On the basis of output power, the power converter industry is segmented into