Power Supply in Package and Power Supply on Chip Market is predicted to touch USD 2,300 Million between 2017- 2023. Today, the power module is a crucial technology that has various purposes. It has high usage in semiconductor devices. Especially, automotive, medical devices and communication infrastructure has a high demand for the power module. The current flow in electronic devices plays high importance. The need for power regulation is crucial. The automotive industry uses electric parts that need a proper power supply.
Regulating it can bring efficiency in any industry. Also, cost-saving with the power supply module is exceptional. The application requiring high voltage requires a power supply module. The power supply in the package is gaining more traction in the chip market. The power supply package is exceptional in converting energy efficiently. The chip market requires a high amount of power supply.
The power supply in the package solution is gaining more prominence in developed regions. The developed electric infrastructure makes these power supply packages more beneficial. In the upcoming years, the demand from North America and European countries will rise. Also, in the forecast period Power Supply in Package and Power Supply on Chip Market will rise immensely.
PSiP and PwrSoC Market Covid Analysis
The outbreak of covid 19 is drastic for many markets. There is a high impact of the pandemic in the power supply package market. Small and medium enterprises are facing massive losses. The operations of these firms are declining. There is a fall in the power supply in packages and power supply on the chip market. The implementation of the restriction and lockdowns is affecting the market growth.
There is limited manpower, less production and closedown of manufacturing facilities. There are supply chain disruptions that have a high impact on this market. The market is dynamics with plenty of new changes. The post covid 19 scenario of the market remains positive. In 2022, better production and supply chain raise the revenue. All these are factors impacting the growth of this market during covid 19.
PSiP and PwrSoC Market Dynamics
The growing adoption of automation systems is a crucial driver of the power supply in package and power supply on chip market. Today, automation is becoming a market trend. From offices to residences is adopting automation. This automation technology may require less human intervention. They make any task efficient and easier. However, these automated technologies may consume a lot of energy. There is a need for effective voltage regulation in electronic automated technologies. The demand for such automation technologies will positively impact the market.
Power Supply in Package and Power Supply on Chip Market Demand is immense due to these factors. Furthermore, the emerging telecommunication sectors are a crucial driver for the market. Telecommunication is an industry that deals with high voltage devices. The use of power supply in packages can bring efficiency and save costs. The emergence of new tele companies will stir growth.
Additionally, the growing adoption of energy-efficient appliances is another crucial driver. The energy-efficient devices use a power supply in the package. The electronic appliances that contain chips find this power source beneficial. There are many advantages of the PSiP in these industries. The expansion of the power supply in package and power supply on chip market is exceptional due to these market drivers.
The growing use in data centres will create market growth opportunities. There is expected to be a massive number of data centres in upcoming years. Data centres have plenty of applications in the next few years. The need to store and manage data is high in these centres. The growing use of power supply on data centres will create promising opportunities.
Data centres are becoming crucial to managing information. The need for better data use will increase in upcoming years. The constant power supply is possible through the PSiP. Further, the rising demand in developing nations is another growth factor. The developing nations have high energy requirements. The need for better and more effective energy sources are high. Also, the investment in this region is exceptional. Due to these factors, the expansion of the Power Supply in the Package and Power Supply in the Chip Industry is higher.
The complexity of design is a restraining factor of the market. The Power Supply in Package and Power Supply on Chip is complex technology. Making these power supply sources may consume more time and energy. From the manufacturing end, there are plenty of difficulties in production.
Due to the complex design, the production is affected. The covid 19 pandemic is another factor that restricts production. This slowdown in manufacture can lead to a decline in supply. There are problems in the delivery end of the market. Most of the end-users witness a late delivery of the product. These restraints hamper the growth of this market. They can have a declining impact on Power Supply in Package and Power Supply on Chip market in the forecast.
The high cost of Power Supply in Package and Power Supply on Chip is a market challenge. Affordable and efficient energy attracts many end users. Most of the end-users prefer the low-cost alternatives of energy sources. The Power Supply in Package and Power Supply on Chip is a long term investment for any business.
In the long term, they can save energy and another organisational cost. Due to this benefit, the cost of the power supply in the package solution is higher. However, the high cost can affect the adoption rate. The customers may hesitate to implement it because of the cost. It is a market challenge that can reduce awareness.
Power Supply in Package and Power Supply on Chip Market Analysis shows positive growth. The factors driving demand are the growing adoption of automated systems. Automation is leading to more energy uses. The need for voltage regulation in devices is rising. This is a crucial driver that will contribute to the high revenue of the market. The complexity of this market can restrict its growth of this market.
Also, high cost acts as a barrier to adoption. Still, the growth is stable with the emergence of data centres. These are factors contributing to the overall growth of this market.
The Asia Pacific will have the maximum Power Supply in Package and Power Supply on Chip Market Share. In the forecast period, it is a region that will mark the fastest growth. It is a region that will hold about 30% of market shares. The manufacturing sectors will have the highest demand.
The manufacturing facilities in Asia pacific are transforming. The use of modern technologies and automation is higher. It is bringing high demand for PSiP. Further, internet penetration, economic growth and IT are other drivers. However, high cost is a challenge for this market. Still, the region has promising growth opportunities in the next few years.
The Power Supply in Package and Power Supply on Chip Market has high competition. The presence of third party players is more. In the forecast period, there are crucial strategies among key players. The market expects a high number of partnerships, collaborations, acquisitions and mergers. Further, the product portfolio will have prominence in the market.
The key regions in the Power Supply in Package and Power Supply on Chip Market are Asia Pacific, Europe and North America. The Asia Pacific will continue to lead with the high number of shares. The medical devices and manufacturing facilities will have a high need for this product. Further, countries such as India, china and Japan will enhance product portfolios.
North America will hold the next highest shares of the market. There is more scope for PSiP in this region. Also, the cost barriers are less in this market. The consumer electronics market will have massive demand. Further, Europe is a region that has more expansion rate. UK and Germany will witness higher adoption of PSiP in the forecast period.
The key players of the Power Supply in Package and Power Supply on Chip Market are
|Market Size||USD 2,300 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application Area and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Bel Fuse Inc., Texas Instruments Incorporated, ON Semiconductor, Panasonic Corporation, Vicor Corporation, Jiangsu Changjiang Electronics Technology Co. Ltd., Amkor Technology, TDK Corporation, Intel Corporation and ASE Group|
|Key Market Opportunities||Affordable Manufacturing Cost and Low Power Consumption to Offer Robust Opportunities|
|Key Market Drivers||
By the 2023-end, the market is poised to earn over USD 2300 Mn.
The APAC market is expected to augment at 26.9% CAGR.
The market has been segmented, by product, into PSiP and PwrSoC.
The PSiP segment is poised to dominate the market.
The consumer electronics segment is presumed to register 25.7% CAGR.
Intel Corporation, Amkor Technology, ASE Group, TDK Corporation, Bel Fuse Inc., Panasonic Corporation, Jiangsu Changjiang Electronics Technology Co. Ltd., ON Semiconductor, Texas Instruments Incorporated, and Vicor Corporation are some of the key players assessed in the report.
The developments of silicon-carbide (SiC) and gallium nitride (GaN) are anticipated to drive market’s growth in the near future.