The power supply in package & power supply on chip market 2020 is likely to witness wide range of applications. The market is poised to thrive on the growth of the consumer electronics industry. Urbanization and changing lifestyle have led to a high demand growth rate of electronics such as gadgets, set top boxes, portable devices, etc. It is presumed to impact the power supply in package and power supply on chip market favorably.
A recently issued report by Market Research Future suggests that the global power supply in package and power supply on chip market is supposed to mark a double-digit CAGR over 2023. Rising investments being injected in R&D is the primary driver of the market. With the rising demand for technological innovations, the competition in the market is supposed to intensify. The influx of new players will further catalyze the size of the power supply in package (PSiP) & power supply on chip (PwrSoC) market. All these trends indicate that the growth of the market is inevitable. This forecast is further strengthened by the growing number of expansion methodologies being employed by manufacturers. Some of these methodologies used for growth are – mergers & acquisitions, collaborations, agreements, partnerships, alliances, strategic partnerships, etc.
The segmentation of the power supply in package and power supply on chip market Based on Product consists of PSiP and PwrSoC. Among the two components – power supply in package and power supply on chip – the power supply in chip is likely to witness a higher growth in demand. It is because of the proliferating applications of the product. It is used in the manufacturing of products ranging from automotive systems to household electronics such as routers, laptops, set-top boxes, desktop systems, etc. It is also used in the healthcare industry in enabling the effectiveness of medical devices. Increasing demand for technological innovations in healthcare IT industry is likely to boost demand for power supply in package over the next couple of years. Based on application area, the the power supply in package and power supply on chip market consists of Telecom and IT, Automotive, Consumer Electronics, Medical Devices, and Military & Defense.
Asia Pacific is a highly lucrative segment of Power Supply in Package and Power Supply on Chip Market Report. It is due to the rapidly advancing manufacturing industry of the region that the market is poised to earn high revenues. Furthermore, the growing demand for end-user products such as consumer electronics, medical devices, etc. is expected to drive the augmentation of the power supply in package and power supply on chip market in the region. High rate of electrification in automotive industry is also projected to uncover new growth avenues for the players in the power supply in package and power supply on chip market. PSiP and PwrSoC market in Europe and North America are also expected to expand prominently. It is quite evident that the advancement of the region and high standards of living will fuel growth for these power supply components.
The players of the PSiP and PwrSoC market recognized for their contribution to revenue generation are ASE Group, TDK Corporation, Intel Corporation, Amkor Technology, Vicor Corporation, Jiangsu Changjiang Electronics Technology Co. Ltd., Panasonic Corporation, Texas Instruments Incorporated, ON Semiconductor, and Bel Fuse Inc.
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