The power device analyzer market is projected to reach USD 527 million by 2024, at a CAGR of 4.2% from 2019 to 2024. The global power device analyzer market is projected to reach USD 527 million by 2024 from an estimated market size of USD 430 million in 2019, at a CAGR of 4.2% during the forecast period. The factors driving the growth for power device analyzer is due to the growing adoption for high-performance and power-efficient devices for consumer and healthcare sector along with investments in electric vehicles due to the concern towards hazardous environmental effect.
The consumer segment is expected to dominate the power device analyzer market in 2019. The consumer segment is anticipated to constitute the majority of the power device analyzer market share.Power device analyzers are suitable for consumer electronic devices such as fans, refrigerators, smartphones, laptops, TVs and air conditions, smart home systems, smartwatch, and others.
Increased demand for electronic products due to the advent of new technologies is expected to drive the demand for electrical products. An increase in the need for electronic products along with an up gradation in technology will drive the market for power device analyzer as it will require more precise test and measurement solutions.
The power device analyzer, below 1000 A, is expected to grow at the highest rate during the forecast period. The below 1000 A segment is estimated to grow at the fastest rate of all segments during the forecast period.It is used to test various types of products such as motors, air conditioners, fans, heater, and electric motor, solar PV, automated external defibrillator, satellite in major end-user industries such as consumer electronics, automotive, wireless communication, and medical equipment manufacturing.
Electrical products having current below 1000 A in end-user industries such as consumer electronics are much more in number when compared with those electrical products that use current above 1000 A. Hence, with the growth in consumer electronics there will be a rise in the demand for this segment
North America is expected to grow at the highest rate during the forecast period. North America is currently the fastest-growing power device analyzer market, followed by Asia Pacific and Europe.It is expected in North America that there will be maximum adoption and implementation of test and measurement equipment in wireless communication and network applications in North America.
The primary growth driver for the market in this region is the growing number of 4G connections which would require wireless test equipment, test performance, and network management solutions.
Breakdown of Primaries: In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: • By Company Type: Tier I: 60%, Tier II: 27%, and Tier III: 13% • By Designation: C-Level: 35%, Director Level: 25%, and Others: 40%
By Region: Asia Pacific: 40%, North America: 20%, Europe: 18%, the Rest of the World: 16%, South America: 6%, Note: Others include sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined based on their total revenue, as of 2017; Tier 1: USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3: The global power device analyzer market is dominated by a few major players that have an extensive global and regional presence. The leading players in the power device analyzer market are Keysight Technologies (US), Yokogawa (Japan), Fortive (US), Rohde & Schwarz (Germany), Hioki E.E. Corporation (Japan), Newtons4th (UK), and Iwatsu (Japan).
Research Coverage: The report defines, describes, and forecasts the global power device analyzer market by type, current, end-user, and region.It also offers a detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market.
These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the power device analyzer market.
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