Newark, NJ, June 23, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, The global power devices analyzer market is expected to grow from USD 432.01 million in 2019 to USD 609.67 million by 2027 at a CAGR of 4.4% during the forecast period from 2020-2027.
Power device analyser is a device helpful in testing voltage, current, mean and RMS, power, peak, and other parameters. It can handle any broad range of energy/voltage for handling different types of power devices. Its popularity is increasing in the electronics and electrical industry due to its multi-faced benefits.
Power analyzers are test equipment that is becoming increasingly important within the electrical and electronics industries as all aspects of power used by large and small devices become a significant issue. Power analyzers are capable of measuring several parameters associated with power consumption and output at frequencies ranging from 50/60 Hz up to several kHz. Power analyzers are used to measure a host of aspects of electrical power for applications including power electronics, inverters, motors and drives, lighting, home appliances, office equipment, power supplies, industrial machinery, and more. Electric power analyzers are manufactured by a variety of test equipment manufacturers to meet the increasing demand for measuring energy and all aspects of its use and use. However, data acquisition and power measurement devices are based on oscilloscopes. Available power analyzers are designed to provide measurements that are necessary to test devices that generate, change, or consume electricity. In this way, a power analyzer can meet the needs of more engineers to measure various aspects of electrical energy.
The main factor contributing to the demand for power tool analyzers is increasing with technological advancement and the growing acceptance of power-saving devices with improved efficiency. Demand is expected to increase in the consumer electronics and healthcare sectors. With more strict environmental regulations, the need for electric vehicles is rising, contributing to market growth. The increasing demand from the domestic industry for cooling and heating due to rapid industrialization and climate change will increase the market. Furthermore, the rising IOT market is going to fueling the growth of power devices analyzer market, in the near future. Lack of highly skilled workforce to handle the power devices analyzers properly is the primary restraint of power devices analyzer market. In addition, to maintain proper balance with the rapid change advance technology may also hamper the market growth in future.
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Key companies in the power device analyzer market are Solmetric, Inc., Rohde & Schwarz, Agilent Technologies, Inc., Newtons4th, Iwatsu, Yokogawa, Keysight Technologies, Hioki EE Corporation and Fortive among others. To increase their market position in the global Power Devices Analyzer market, the key players are now focusing on adopting strategies such as recent developments, product innovation, joint ventures, mergers & acquisitions, collaborations, and partnerships. Significant firms are increasingly investing in research and the development activities and development of newer products.
- For instance, in May 2019, HIOKI has launched Power Quality Analyzer PQ3198, a brand new device that can re-states the functionality and stipulation of its predecessor, Power Quality Analyzer PW3198. The Power Quality Analyzer PW3198 makes recording and analyzing power supply issues even simpler, including by deleting the requirement for a specific sensor power supply and enabling power and efficiency measurement of two circuits.
The both AC and DC section is dominating the market with the highest share of 72.67% in 2019
The type section is classified as both AC and DC, and AC. The market for both AC and DC is dominating the market with the highest share of 72.67% in 2019, due to its multi-functionality of being used in both AC and DC circuits. The massive investments in the healthcare sector will drive the demand for this segment.
The below 1000 A segment led the current section and is valued around 326.21 million in 2019
The current segment is divided into sections such as above 1000 A, and below 1000 A. The below 1000 A section led the current section and is valued around 326.21 million in 2019. The development can be attributed to its extensive use in large industrial electrical equipment in various industries such as energy, automotive, medical, aviation & defense, and others. With the continuous development of energy and automotive sector, the demand for power device analyzer will also increase.
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The consumer electronics segment is anticipated to grow with the highest CAGR 31.07% during the forecast period
The end user section includes automotive, energy, wireless communication, consumer electronics, and others (government services, aerospace and defense, and medical equipment manufacturing). The consumer electronics section is anticipated to grow with the highest CAGR, 31.07% during the forecast period. With consumers becoming more aware and technologically literate, there has been an increase in demand for the latest electronics devices that are technologically advanced. The growing consumer base for smartphones and other advanced consumer devices will meet the need of this segment.
Regional Segment Analysis of the Power Devices Analyzer Market
- North America (Canada, U.S., Mexico)
- Europe (Spain , Germany, France, Italy, U.K., Rest of the Europe)
- Asia-Pacific (Japan, India, China, Rest of APAC)
- South America ( Rest of South America and Brazil )
- Africa and Middle (South Africa, Rest of MEA & UAE)
The regions analyzed for the market include Asia Pacific, North America, Europe, South America, and Africa and Middle East. The North America region held the highest market share of 44.75% in 2019. The increasing need for accurate electrical components measurements and a tremendous rise in the number of 4G and 5G users in the region will also drive the growth of the market.
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About the report:
The global power devices analyzer market is analyzed on the basis of value (USD Million). All the segments have been analyzed on regional, global and country basis. The study includes an analysis of more than 30 countries for each section. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the critical insight of the market. The study includes porter’s five forces model, raw material analysis, attractiveness analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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