Power Device Analyzer Market to Reach $616.79 Mn, Globally, by 2030 at 4.3% CAGR: Allied Market Research

Rapid expansion of the healthcare industry across the globe drives the growth of the global power device analyzer market.

PORTLAND, Ore., June 2, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Power Device Analyzer Market by Type (Both AC and DC, AC, DC), by Current (Below 1000A, Above 1000A), by End user (Automotive, Energy, Telecommunication, Consumer Electronics and Appliances, Medical): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report published by Allied Market Research, the global power device analyzer market was estimated at $423.25 million in 2021 and is expected to hit $616.79 million by 2030, registering a CAGR of 4.3% from 2021 to 2030.

Prime determinants of growth-

Rapid expansion of the healthcare industry across the globe drives the growth of the global power device analyzer market. Power analyzers can digitally detect frequency cycles to provide reliable RMS periods during power conversion, which in turn has supplemented the growth yet more. Moreover, rise in demand for power device analyzers in the electronic industry is expected to provide new opportunities in the industry.

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Covid-19 Scenario-

• The outbreak of the pandemic gave way to closure of the manufacturing and production units across the world. The manufacturing of the power device analyzer system ceased for a specific period of time. This, in turn, impacted the global power device analyzer market positively, especially during the initial period.
• Decrease in demand for a wide variety of goods & electronic products aggravated the condition even more. However, the market has already started reviving at a quick pace

The both AC and DC segment to retain the lion's share-

On the basis of type, the both AC and DC segment held the major share in 2020, garnering more than half of the global power device analyzer market. The same segment is also projected to cite the fastest CAGR of 4.6% throughout the forecast period, due to rapid development in the generation of renewable power.

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The Below 1000A segment to dominate by 2030-

By current, the below 1000A segment contributed to the lion's share in 2020, holding more than three-fifths of the global power device analyzer market. The same segment is also expected to manifest the fastest CAGR of 4.4% from 2021 to 2030. Increase in demand for electric vehicles heightens the demand for EV chargers, which in turn propels the segment growth.

Asia-Pacific exhibited the fastest CAGR throughout the forecast period-

By region, the market across Asia-Pacific dominated in 2020, garnering nearly two-fifths of the global power device analyzer market. The same region is also anticipated to cite the fastest CAGR of 4.6% throughout the forecast period, owing to rise in demand for utilities and power projects across the province.

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Key players in the industry-

• CARLO GAVAZZI HOLDING AG Ltd.
• Delta Electronics
• Dewesoft D O O
• Hioki E E Corporation
• Iwatsu Electric
• Arbiter Systems
• Texas Instruments
• Keysight Technologies
• Circutor Rohde & Schwarz

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