Global Power Device Analyzer Market By Type (Both AC & DC, AC, and DC), By Current (Below 1000A and Above 1000A), By End-User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Oct. 2023
- Report ID: 101699
- Number of Pages: 208
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Report Overview
In 2022, the global power device analyzer market was valued at USD 461.3 million and will reach a valuation of USD 728.6 million by 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 4.8%.
A Power Device Analyzer is equipment that is used to measure the electrical characteristics of power devices such as transistors, diodes, and power ICs. These devices play an important role in power electronics applications such as power supplies, motor drives, and inverters.
This device performs a variety of measurements, such as voltage, current, capacitance, resistance, and inductance. They also perform more advanced measurements such as dynamic on-state resistance (DS), thermal resistance (θ), and gate charge. Power analyzer devices have high demand in research and development labs, semiconductor manufacturing facilities, and power electronics testing facilities.
Note: Actual Numbers Might Vary in the final report
Key Takeaways
- Market Growth: The global power device analyzer market is expected to reach USD 728.6 million by 2032. The global market is likely to register a CAGR of 4.8% through 2032.
- Market Trend: Increasing demand for power electronics in various industries and Rising adoption of electric vehicles.
- Driving Factors: Rising Adoption of Electronic Devices and Demand for Electric Vehicles (EVs), Fuelling the Market Growth
- Restraining Factors: High Initial Costs and Low Overload Capacity Hampering the Market Growth
- By Type Analysis: Both AC & Dc segments dominated the market with 37% market revenue share by 2022.
- By Current Analysis: Below 1000 A segment was the market leader with 65.50% market revenue share in 2022.
- By End-User Analysis: Consumer electronics & appliances held the largest revenue share at 32% in 2022 and is expected to maintain this position throughout its forecast period.
- Regional Analysis: Asia Pacific held 39% market share as of 2022 and is projected to remain dominant during its predicted forecast period.
- Top Key Players: Keysight Technologies, Inc., Yokogawa Electric Corporation, Advantest Corporation, Chroma ATE Inc., Tektronix Inc., B&K Precision Corporation, Rohde & Schwarz GmbH & Co KG, National Instruments Corporation, Keithley Instruments, Inc., Fortive Corporation, Other Key Players.
Driving Factors
Rising Adoption of Electronic Devices
The concerns regarding reducing energy consumption and carbon footprint are increasing. Thus, the demand for power-efficient devices such as power device analyzers is expanding. Power device analyzers help test and optimize power consumption, propelling the market growth. Worldwide the adoption of smartphones, tablets, and other consumer electronics devices is rising; thus, demand for power analyzers is rising in the market.
Increasing Demand for Eclectic Vehicles (EVs) to Propel the Market Growth
The increasing adoption of electric vehicles (EVs) is driving the demand for power device analyzers. A power analyzer device plays an important role in measurement and testing in hybrid electric vehicles to evaluate power consumption. The technologically advanced devices such as Dewsoft’s new series XHS Data Acquisition System help in measuring voltage and current accurately during real drive tests without any influence of cable shield.
Rising Trends Towards Renewable Energy Have a Positive Impact on Market Growth
Power analyzers are used to test the power quality of renewable energy sources and ensure their efficient functioning. Thus, the rising adoption of renewable energy sources positively impacts market growth. Rising technological advancements, such as the development of advanced power semiconductor devices and the integration of artificial intelligence and machine learning, fueling the demand for power device analyzers.
Restraining Factors
High Initial Costs and Low Overload Capacity Hampering the Market Growth
Power device analyzers are technologically advanced devices, and the costs of these devices are high compared to other power analyzers, which is a primary factor restraining the market growth. This device requires 24-hour monitoring and has a low overload capacity. Also, high maintenance costs and availability of alternative devices are expected to have a negative impact on market growth.
By Type Analysis
Both AC & DC Segment is Dominant in the Market
The power device analyzer market is segmented based on type: AC & DC, AC, and DC. Both AC & Dc segments dominated the market with the largest market revenue share of 37% in 2022. Rising governmental implementation of energy audits and increasing demand for electric vehicles (EVs) are propelling the growth of this segment. Growing demand for AC power quality monitors and the rising Internet of Things (IoT) market drive the demand for both AC & DC segments. This type of device is used in ballast testing, solar panel, electric vehicles, and electrical consumer products.
The AC segment is expected to grow at the fastest CAGR during the forecast Period. With accurate power measurements, this power analyzer measures voltage, current, and power on four channels, 1-phase AC or 3-phase AC. DC power device analyzers play an important role in the fundamental functions of all circuit simulators. This device determines operating points, initial conditions in transients, and transfer curves.
By Current Analysis
Below 1000 A Segment Dominated the Market with Largest Market Revenue Share
On the basis of current, the power device analyzer market is classified into below 1000 A and above 1000 A. Below 1000 A segment dominated the Market with the largest market revenue share of 65% in 2022.
The growth of this segment is propelled by rising demand for these devices in power electronics, inverters, motors & drives, lighting, home appliances, office equipment, power supplies, and industrial machinery. The rising adoption of consumer electronics such as laptops, smartphones, smart TVs, and refrigerators is propelling the demand for these devices in the consumer electronics market. The above 1000 A segment is expected to grow at the fastest CAGR during the forecast period.
Note: Actual Numbers Might Vary in the final report
By End-User Analysis
The Consumer Electronics & Appliances Segment is Dominant in the Market Owing to Rising Adoption of High-Performance Electronic Devices
On the basis of end-user, the power device analyzer market is segmented into automotive, energy, telecommunication, consumer electronics & appliances, medical, and other end-users. The consumer electronics & appliances segment dominated the market with the largest market revenue share of 32% in 2022 and is expected to remain dominant during the forecast period. The rising adoption of power-efficient and high-performance electronic devices propels this segment’s growth.
The automotive segment is expected to grow at the fastest CAGR during the forecast period. Power device analyzers are used in the automotive industry for the evaluation of various systems such as navigation systems, batteries, and electrical systems; thus, rising evolution in automotive industries fueling the market growth.
Key Market Segments
By Type
- Both AC & DC
- AC
- DC
By Current
- Below 1000A
- Above 1000A
By End-User
- Automotive
- Energy
- Telecommunication
- Consumer Electronics & Appliances
- Medical
- Other End-users
Growth Opportunity
Rising Demand for Electric Vehicles (EVs) to Create Growth Opportunities in the Market
Rising investments in renewable energy and improving power efficiency are expected to drive market growth in the forecast period. The adoption of smart electric appliances and the emergence of the Internet of Things (IoT) propelled the market growth. Several governmental initiatives across the globe aim to raise awareness regarding the conservation of energy. Thus, many industries across the globe are adopting power device analyzer products to save energy and costs related to uses of energy, which is expected to create lucrative growth opportunities in the market during the forecast period.
Latest Trends
Demand for Power Device Analyzers is Increasing in Healthcare Sector
The adoption of power device analyzers is increasing in many industries, such as automotive, energy, telecommunication, consumer electronics & appliances, and medical industries. The healthcare sectors across the globe are adopting this device to test medical devices and provide accurate and reliable results. The demand for analyzer products such as ESA612 Electrical Safety Analyzer, ESA614 Electrical Safety, and ESA609 Electrical Safety Tester and Analyzer is increasing in the healthcare sector for fast and safe testing of medical devices.
Regional Analysis
Asia Pacific Dominated the Market Due to Rising Demand in Consumer Electronics
Asia Pacific has dominated the market with the largest market share of 39% in 2022 and is expected to remain dominant during the forecast period. The growth of the market in Asia Pacific is attributed to the rising adoption of smart electronic appliances in residential and commercial areas. Asia Pacific holds the largest share of the consumer electronics industry; thus, the demand for power device analyzers is increasing in the region.
The rising adoption of consumer electronics in emerging economies such as India, China, and Japan propels market growth. Also, the presence of top key players in the power device analyzers market, such as Extech Instruments, PCE Instruments, and Keysight Technologies, drives the market growth. North America is expected to grow at the fastest CAGR during the forecast period due to rising technological advancements.
Note: Actual Numbers Might Vary in the final report
Key Regions and Countries
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Major key players in the power device analyzers market focus on business strategies such as merging, acquisition, and collaboration to obtain a competitive edge. Several key players are expanding their business in foreign countries to expand their product portfolio.
In addition, major key players are adopting policies such as competitive pricing to expand their footprint in the global market. Tektronix Inc. is the leading key player in the power device analyzer market, which provides various power analyzers for fast, accurate, and complete testing of power conversion efficiency.
Top Key Players in Power Device Analyzer Market
- Keysight Technologies, Inc.
- Yokogawa Electric Corporation
- Advantest Corporation
- Chroma ATE Inc.
- Tektronix Inc.
- B&K Precision Corporation
- Rohde & Schwarz GmbH & Co KG
- National Instruments Corporation
- Keithley Instruments, Inc.
- Fortive Corporation
- Other key Players
Recent Developments
- In 2020, Keithley introduced the S530 series parametric test system, which provides high-precision DC and pulse measurements for semiconductor devices.
- In October 2019, Vitrel launched the Ultra-high accuracy PA920 series power analyzer, which offers high power measurement accuracy.
Report Scope
Report Features Description Market Value (2022) US$ 461.3 Mn Forecast Revenue (2032) US$ 728.6 Mn CAGR (2023-2032) 4.8% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Type- Both AC & DC, AC, and DC; By Current- Below 1000A and Above 1000A; By End-User- Automotive, Energy, Telecommunication, Consumer Electronics & Appliances, Medical, and Other End-users Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Keysight Technologies, Inc., Yokogawa Electric Corporation, Advantest Corporation, Chroma ATE Inc., Tektronix Inc., B&K Precision Corporation, Rohde & Schwarz GmbH & Co KG, National Instruments Corporation, Keithley Instruments, Inc., Fortive Corporation, Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the estimated valuation of the power device analyzer market in 2032?The power device analyzer market is estimated to reach a valuation of US$ 728.6 million by 2032.
What applications do power devices play a role in?Power devices play an important role in power electronics applications such as power supplies, motor drives, and inverters.
What are the driving factors for the growth of the power device analyzer market?The rising adoption of electronic devices and increasing demand for electric vehicles (EVs) and the increasing trend towards renewable energy are driving factors for the growth of the power device analyzer market.
What is the dominant type of power device analyzer in the market?Both AC & DC segments dominated the power device analyzer market with the largest market revenue share of 37% in 2022.
Which region dominated the power device analyzer market?The Asia Pacific region dominates the market with the largest market share of 39% in 2022 and is expected to remain dominant during the forecast period.
Which companies are the key players in the power device analyzer market?The top key players in the power device analyzer market are Keysight Technologies, Yokogawa Electric Corporation, Advantest Corporation, Chroma ATE Inc., Tektronix Inc., B&K Precision Corporation, Rohde & Schwarz GmbH & Co KG, National Instruments Corporation, Keithley Instruments, Inc., and Fortive Corporation.
What are the benefits of using a power device analyzer in the manufacturing industry?The benefits of using a power device analyzer in the manufacturing industry include improved efficiency, reduced energy costs, and improved product quality.
Power Device Analyzer MarketPublished date: Oct. 2023add_shopping_cartBuy Now get_appDownload Sample - Keysight Technologies, Inc.
- Yokogawa Electric Corporation
- Advantest Corporation
- Chroma ATE Inc.
- Tektronix Inc.
- B&K Precision Corporation
- Rohde & Schwarz GmbH & Co KG
- National Instruments Corporation
- Keithley Instruments, Inc.
- Fortive Corporation
- Other key Players
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