Industrial Power Supply Market to See Huge Growth by 2026

 According to the new market research report "Industrial Power Supply Market By Type (AC-DC and DC-DC Converter), Output Power (Very Low Output(up to 500W), Low Output(500-1,000W) Medium Output(1,000W–10kW), High Output(10-75kW), Very High Output(75-150kW), Vertical, Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Industrial Power Supply Market size is projected to reach USD 9.7 billion by 2026.The global Industrial Power Supply Market size is expected to grow from an estimated USD 7.0 billion in 2021 to USD 9.7 billion by 2026, at a CAGR of 6.9 %. The drivers for this market are Increasing demand for energy-efficient devices in industrial sector and Surging adoption of electric vehicles worldwide. The market is segmented by product type, output power, vertical, and region.

AC−DC Converters is expected to dominate the Industrial Power Supply Market.

The market is segmented by product type into AC−DC converters and DC−DC converters. AC−DC converters accounted for the larger share of the Industrial Power Supply Market in 2020. Rising demand for AC-DC power sources in automotive charging and defense applications to propel the growth of market for AC-DC converters.

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Transportation is projected to have a higher growth rate in the Industrial Power Supply Market.

The market is segmented by vertical into transportation, military & aerospace, lighting, test & measurement, semiconductor, battery charging & test, robotics, industrial 3D printing, and laser. The transportation segment is estimated to lead the market and is also expected to register a higher CAGR. In automotive applications, power supplies are used in high-performance electric vehicle charging stations and they are also used in electric vehicles (EVs) and hybrid electric vehicles (HEVs) to change the DC power from an on-board high-voltage battery into lower DC voltages to power headlights, interior lights, wipers, window motors, fans, pumps, and many other systems. The growing demand for electric vehicles to reduce the overall carbon footprint is a major driver for the transportation vertical in the Industrial Power Supply Market.

Asia Pacific is expected to dominate the global Industrial Power Supply Market.

Asia Pacific is estimated to be the largest Industrial Power Supply Market during the forecast period. As per the International Energy Agency (IEA) report, around 45% of electric cars on the road in 2018 were in China which is a total of 2.3 million as compared to 39% in 2017. Top EV manufacturers such as SAIC, FAW, Dongfeng, Chana, etc. have their manufacturing locations situated in China, wherein a lot of power supplies is demanded per year for the testing requirements. Also, the rising industrial automation in the countries like India & Japan along with the strict regulations and standards for the use of industrial electronics in developing countries such as China, Japan, and, India are the driving factors for the growth of industrial power supplies market in the region.

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To provide an in-depth understanding of the market’s competitive landscape, the report includes the profiles of some of the top manufacturers in the Industrial Power Supply Market. These players include TDK Lambda (Japan), XP Power (Singapore), Delta Electronics (Taiwan), Siemens (Germany), and Murata Power Solutions (US).

Light Management System Market: Growing Demand for Smart Controls in Lighting Systems

 The global Light Management System Market is expected to grow from an estimated $11.66 billion in 2018 to $21.51 billion by 2023, at a CAGR of 13.03%, during the forecast period. The increasing adoption of energy-efficient lighting automation systems is the major driver of the lighting management system market. The growing demand for building automation in North America and Europe make them potential growth markets for the providers of lighting management systems.

Dimming control management is used to reduce the energy consumption of light sources and, consequently, the intensity and output of those light sources. Compared to on-off switching controls, they can improve energy savings, better align lighting with human needs, and help extend the working life of light sources. Dimming control management includes systems that provide the management of luminance and colour and temperature of lighting.

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Light management systems are used widely in commercial set-ups such as corporate offices, healthcare facilities, retail complexes, hotels, restaurants, and educational institutes. Reducing energy consumption has become a major objective for organizations, governments, utilities, and other stakeholders. Controls and connectivity enable the personalization of lighting as well as allow users to reduce energy use, optimize spaces, and lower maintenance costs.

North America is expected to be the largest market for light management systems.

The North American market is expected to lead the light management system market in 2018. The growing demand for building automation in Asia Pacific and North America make them potential growth markets for the providers of lighting management systems. Moreover, increasing smart city developments in different parts of the world will provide new opportunities during the forecast period.

The increasing adoption of energy-efficient light automation systems is the major driver of the light management system market. The growing investments in smart cities across the world will offer significant opportunities for light management system providers. The US, Germany, and China are the largest markets and have witnessed increasing investments in their commercial sectors in the recent past. The growing demand for building automation in Asia Pacific and North America make them potential growth markets for the providers of light management systems.

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Some of the leading players in the Light Management System Market are GE (US), Philips Lighting (Netherlands), Eaton (Ireland), Zumtobel (Austria), and OSRAM (Germany).

Power Supply Market Huge Growth Opportunity between 2018–2023

 The global Power Supply Market is estimated to grow from USD 25.20 billion in 2018 to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. Increasing adoption of home and building automation systems, the emerging telecommunications sector, and rising demand for energy-efficient devices/appliances are driving the power supply market growth. Also, the increasing usage of power supplies for various lighting applications will drive the need for AC-DC and DC-DC power supplies in the coming years. Along with lighting, industrial and consumer electronics are the key verticals driving the power supply market.

Power supply with low output power expected to account for largest market size

Power supply with low output power is expected to hold the largest size of the power supply market in 2018. This can be attributed to the increasing use of AC-DC power supplies with low output power in lighting, telecommunications, and consumer electronics. Moreover, various 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 power supplies with low output power.

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A power supply is a device that accepts an AC power input, rectifies and filters it and then applies the resulting DC voltage to a regulator circuit that provides a constant DC output voltage. There are a wide variety of AC-DC and DC-DC power supplies that can have an output voltage from less than 1 V to thousands of volts and output power ranging from 0.1 W to thousands of watts. AC-DC and DC-DC power supply applications from verticals such as lighting, industrial, consumer electronics, and medical are driving the market by integrating it in various devices such as street lighting, home lighting, wearable bands, smartphones, and patient-monitoring devices.

The power supply market in APAC is expected to grow at the highest CAGR

APAC is expected to dominate the overall power supply during the forecast period. This growth can be attributed to the strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing digitization and automation in various sectors is likely to generate demand for power supplies in APAC.

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Major players operating in the Power Supply Market include MEAN WELL (Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US), XP Power (US), Murata Power Solutions (Japan), Artesyn (US), Phoenix Contact (Germany), Delta Electronics (Taiwan), Cosel (Japan), PULS (Germany), CUI (US), AcbelPolytech (Taiwan), Salcom (Finland), LITE-ON Power System Solutions (US), FSP (Taiwan), Power Innovation (Germany), MTM Power (Germany), and Power Systems & Controls (US).

Residential Energy Management Market: Upcoming smart city projects in developing economies enhance growth in residential sector

 According to the new market research report "Residential Energy Management Market by Component (Hardware (RTU, Relays, LCS, DR devices, Control Devices, In-house Displays), Software(EMP, Energy Analytics, CEP); Communication Technology (Wired, Wireless); Application; Region - Global forecast to 2025", published by MarketsandMarkets™, the global Residential Energy Management Market size will grow to USD 4.1 billion by 2025 (forecast year) from USD 2.2 billion in 2020 (estimated year), at a CAGR of 12.9% during the forecast period. The rising energy consumption in residential sectors of OCED and non OCED nations, government initiatives and policies toward energy efficiency in residential buildings, are the driving factors for the Residential Energy Management Market, globally. Increasing investments for modernizing aging grid infrastructures upcoming smart city projects in developing economies to enhance the residential sector, which creates opportunities for growth of the market.

The power monitoring & control is expected to be the most significant contributor to the residential energy management market

The power monitoring & control segment is expected to grow at the fastest rate during the forecast period. The power monitoring & control application segment is projected to hold the largest market size during the forecast period. The growth of this segment is driven by the rising demand for power in the residential sector and the need for effectively utilizing the power. Thus, increasing demand in the residential is driving the residential energy management market.

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The hardware segment is expected to dominate the Residential Energy Management Market

Based on component, the Residential Energy Management Market has been segmented into hardware, and software. The hardware segment accounted for the highest share of the Residential Energy Management Market in 2019. Hardware help grid operators for voltage regulation, advanced fault detection, automating power restoration, reduce the power waste and increased energy efficiency in residential buildings.

The Asia Pacific estimated to fastest growing market for the Residential Energy Management Market

Asia Pacific is estimated to be the fastest growing market for residential energy management during the forecast period. For the market analysis, the region has been segmented into China, Japan, India, Australia, and the Rest of Asia Pacific. The demand for residential energy management in this region is driven mostly by the increasing electricity consumption and the need to upgrade aging infrastructure. Countries in this region are shifting toward energy efficiency in residential buildings to meet the growing energy demands.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Residential Energy Management Market.

Some of the key players are ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), Honeywell International (US), and Siemens (Germany). The leading players are adopting various strategies to increase their share in the Residential Energy Management Market. Partnership & collaboration, and new product launches have been a widely adopted strategy by the major players in the Residential Energy Management Market.

Lighting as a Service Market: Countries in North America & Europe to Lead Growth During the Forecast Period

According to the new market research report "Lighting as a Service Market by End-User (Commercial, Municipal, and Industrial), Installation (Indoor, and Outdoor), Component (Luminaires, Software & Communication Systems, and Maintenance Services), and Region - Global Forecast to 2021", published by MarketsandMarkets™, The lighting as a service market is expected to grow from an estimated USD 95.3 Million in 2016 to USD 638.68 Million by 2021, growing a CAGR of 46.3% from 2016 to 2021. The global market is witnessing significant growth on account of the increase in demand for energy efficient lighting systems, and government policies supporting adoption of energy efficient lighting systems over traditional lighting. Increasing convergence of Internet of Things (IoT) with lighting is also expected to drive the demand for the lighting as a service market across the globe.

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The indoor segment is expected to hold the largest share in the lighting as a service market, by installation, during the forecast period

The indoor segment led the overall lighting as a service market in 2015, owing to the increasing electricity demand from the commercial sector. However, the outdoor segment is expected to register the higher growth rate during the forecast period. Increasing convergence of IoT for street lighting design and efficient utilization is the main driver behind the growth of the outdoor installation segment in the lighting as a service market. Outdoor installation covers street lighting, park and recreational areas, and parking garages, among others.

Commercial segment is expected to be the dominant end-user in the global lighting as a service market

The commercial segment is expected to dominate the global lighting as a service market during the forecast period, whereas the municipal segment is expected to constitute the fastest growing segment, by end-user. Energy savings and cost reductions promised by lighting as a service constitute an attractive offer for commercial end users in view of the increasing corporate focus on sustainability and energy efficiency.

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North America: The leading market for lighting as a service

North America is expected to dominate the global lighting as a service market, and is driven by demand from commercial establishments keen to leverage the cost saving potential of efficient lighting systems and government policy support to phase out traditional lighting systems to reduce energy consumption in the region. It is closely followed by Europe.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the lighting as a service market. These players include Koninklijke Philips N.V (Netherlands), General Electric Lighting (U.S.), Zumtobel Group AG (Austria), SIB Lighting (U.S.), Lunera Lighting (U.S.), Igor Inc. (U.S.) and Cree Inc. (U.S.).