The changing dynamics in DC-DC Converter Market for space with covid-19 impact assessment
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the DC-DC Converter Market.
It was estimated prior to this unanticipated outbreak that the DC-DC Converter Market for space was likely to witness an impressive CAGR of 3.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
DC-DC Converter Market Segment Insights:
By Application Type:
The server, storage & network segment is registering the highest growth. This growth of the segment is owing to the incessant increase in the number of data centers, which call for energy efficiency and high performance. DC-DC converters accomplish the requirements of low voltage for these applications and ascertain uninterrupted power supply for optimal system performance.
By Output Number Type:
The three output subsegment is estimated to be the fastest-growing segment during the forecast period. The demand for three output is majorly driven by the demand for multiple outputs that are required for various on-board applications.
By Input Voltage Type:
As the high voltage DC is more efficient to power future telecommunication and datacom systems, such as 3G, 4G, and 5G systems, the global rise in demand for 4G and 5G services will drive the demand for DC-DC converters during the forecast period.
By Output Voltage Type:
The demand for 12V DC-DC converters is on the rise, driven by certain advantages over low voltage DC-DC converters, such as the cost effectiveness, compact size, and greater power.
By Output Power Type:
The <20W is expected to account for the highest CAGR during the forecast period. Rise in the demand for electronic goods in military for military aircraft and weapon systems, automation in the industrial sector and growing demand for health care equipment is driving the market for DC-DC converters globally.
By Sales Channel Type:
Indirect sales have a higher CAGR in the global DC-DC converter market driven by certain advantages for manufacturers, such as non-requirement of a sales infrastructure, lower operational cost, and the boom in e-commerce, which are driving the growth of the segment.
By Form Factor Type:
One of the major factors contributing to the growth of the quarter brick segment is the demand for increased power density. It is estimated, the quarter brick segment will register the highest market share throughout the forecast period.
By Product Type:
The non-isolated DC-DC converters are the faster-growing segment. This segment is growing at a higher rate owing to the upsurge in the global demand for CPUs, cell phones, memory power supplies, and point of load modules.
By Region:
The global DC-DC converters market in the Asia-Pacific region held the largest market share in 2018, followed by the Americas. The region is likely to continue its dominance during the forecast period. China, Japan and Taiwan are the major producers of electronic devices, such as laptops, air conditioners, and cell phones, among others, which is likely to bolster the demand for DC-DC converters to a great extent.