Converter Modules Market to Soar Across Top Countries in the Globe
Converter Modules Market Overview
The Global converter modules market is anticipated to expand from USD 8040 million to USD 12 995 million by 2025. This growth is expected at a CAGR of 7%. What boosts the market size and dimension is the increase of IT and telecom sectors. Usually, the converter modules are the devices that alter the analog signals to digital signals or analog to digital. This signal conversion is for high-end applications. One of the most common examples of converter module usage is SMPs in data centers. Besides, the rising usage of battery-driven automobiles has also increased the global converter module market size. You can find an application of these converter modules in several other industries as well. You can find usage in the healthcare industry, logistics, defense, and several other domains in vertical.
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The Converter modules deployed in the power components help either step up or down the voltage as needed by the end-user. In most cases, end-users and key market players prefer using a DC converter module to lower power consumption. Utilizing the convert modules also empowers end users to isolate the circuit all eliminate any potential breakdown. The increasing need for a power-saving solution to satisfy the end-users is one major reason behind the global market expansion.
Converter Modules Market Regional Analysis
As per the regions, the global converter module market has five segments: North America, Europe, Asia-Pacific, Middle-East, and South America. Asia-pacific holds the largest market share and dominates the global market with an impressive CAGR. The increasing electrical component manufacturing companies in Asia-Pacific make it the best amongst all regions. China, Japan, and Taiwan are the nations that boost the global expansion of the convert module market. Europe retains the second largest market share with increased use in aerospace and defense.
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Industry news
The government initiatives to augment earning measures extend the product range and targeted investment in growth. The increasing usage of converted modules in the Ethernet, VOIP, remote, cameras, and many other power components also expands the market size.
Converter Modules Market Segments
The worldwide market for the converted module has three segments. It comes segmented based on its type, application, and region. Based on the type, you can find the global converter module divided into DC-DC converter, DC-AC, and AC-DC converter. The DC-DC converter modules hold the largest market share on the global stage. It is because; DC-DC converter module reduces the power consumption.
Based on the application, you can also find several segmentations. It includes Information technology, telecom, industry, healthcare, transportation, and logistics—besides, Aerospace and defense and also a key market segment based on application. Information technology holds the largest market share among the application with increasing innovation and development. The subsequent market shareholder is the telecom sector. The invention of new smartphones and tech trending devices needs minimal power consumption. Consumers are also demanding devices that have minimal power usage. In such cases, the DC-DC converter module helps the device manufacturers to attain the desired result. After telecom, the automobile sector is the following market shareholder.
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