The Power Device Analyzer market is projected to reach USD 600 million by 2027 from an estimated USD 470 million in 2022, at a CAGR of 5.0% during the forecast period. The increased switch towards more energy efficient systems which utilizes low energy and the increased demand for the Electric Vehicles to reduce the use of fossil fuels and utilize clean power are driving the power device analyzer market. The adoption of IoT across all the sectors are also aiding the Power device analyzer market
The automotive segment is expected to grow at the highest CAGR of 5.2% from 2022 to 2027.
In the end user industries, the automotive industry segment is predicted to be having the largest share amoung others with fastest growing market in the forecasted period. In this automotive sector, the power device analyzers are used for variours testing of the components like electric motors, battery management systems, navigation systems, and electrical charging systems, Furthermore there is a increased adoption of the Electric Vehicles across all regions.
Below 1000A is expected to grow at the highest CAGR of 5.2% from 2022 to 2027 by current
The power analyzer devices that measures current less than 1000A is been mostly used across all the region dominating the power device analyzer market.It is been used for critical applications and in testing main components installed in many industries.
The testing of the components by this device helps in reducing the operating cost by improving the efficiency of the components. Therefore the below 1000A segment is predicted to have a robust growth in the forecasted period
Asia Pacific: The largest Power Device Analyzer market
Asia Pacific accounted for the largest share of 54.3% of the Power Device Analyzer market amongst all regions in 2021. The growth of the power device analyzer in this region ia aidded by the increased demand for Electric Vehicles and the rising government initiatives and restrictions
Asia-pacific is futher segmented by country wise into Japan, china, South Korea, India, Australia and Rest of Asia Pacific.Asia is a manufacturing hub and it has boosted industrialization in this region with the south east Asia dominance in this.
For the past few years this region has seen a significant economic growth and growth in the power demand. It is also having a increased investments towards the renewable energy generation.
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 1- 65%, Tier 2- 24%, and Tier 3- 11%
• By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: North America- 10%, Asia Pacific- 50%, Europe- 25%, Middle East & Africa- 7%, South America- 8%
Note: Others includes product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The leading players in the Power Device Analyzer market include Keysight Technologies (US), Fluke Corporation (US), Yokogawa (Japan), Iwatsu (Japan), Hioki E E Corporation (Japan).
The report defines, describes, and forecasts the global Power Device Analyzer market, by type, by current, by 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 an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the Power Device Analyzer market.
Key Benefits of Buying the Report
1. The report identifies and addresses the key markets for Power Device Analyzer, which would help Power Device Analyzer manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.