According to the new market research report on the "DC-DC Converter Market by Vertical (Automotive, Aerospace, Medical, Telecommunication, Industrial), Form Factor (Full, Half, Quarter, Eight), Product Type, Output Power, Input Voltage, Output Voltage, Sales Channel, Output Number and Region - Forecast to 2025", Estimated at USD 8.5 billion in 2019, the global DC-DC converter market is expected to grow at a CAGR of 17.5% from 2019 to 2025, to reach USD 22.4 billion by 2025. Increasing adoption of electric vehicles, adoption of more electric aircraft to reduce carbon footprint, and decrease in price are key factors driving the global industry.
Pegged at USD 8.5 billion in 2019, the DC-DC converter market is projected to grow to USD 22.4 billion by 2025, at a CAGR of 17.5% from 2019 to 2025. The major factors expected to fuel the DC-DC converter market growth include the increasing demand for high performance & cost-effective electronic modules, adoption of IoT, and innovations in surgical equipment for digital power management & control.
Of the different form factors available of DC-DC converter market, the sixteenth-brick segment is projected to grow at the highest CAGR from 2019 to 2025. Improvement in power supply technology, predominantly the efficiency of MOSFET switches, have allowed suppliers to improve the bricks’ power density and sizes. The demand for sixteenth brick DC-DC converters is increasing due to a surge in the mid-range IT & communications, and process control, & automation power applications that are shifting from multiple-output power modules to fully regulated intermediate bus converters, and which require compact DC-DC converter that save space for core components.
Based on the output voltage, the DC-DC converter market has been segmented <3.3V, 5V, 12V, 15V, and 24V, and others. The 5V segment is expected to lead the market due to the growing demand for electric vehicles, small UAVs, medical equipment, and consumer electronics, among others. These verticals are powered with 48V or less input voltage, and this voltage is typically required to step down to a lower intermediate bus voltage, specifically to either 12V, 5V, or even lower, to power the boards support within the system.
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DC-DC converters are used in numerous applications such as aerospace, consumer electronics, telecommunication, automotive, and medical. The automotive segment is projected to grow at the highest CAGR during the forecast period. In anticipation of the growing popularity of next-generation eco-cars, which are effective in reducing hazardous substances in exhaust emissions and carbon emissions levels, TDK-Lamda Corporation (Japan) is working to revolutionize automotive DC-DC converters and on-board chargers further. These changes are being made by utilizing the circuit and design technologies gained through the development of switching power supplies for consumer product and industrial equipment use