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The voltage regulator market is forecast to increase by USD 12.03 billion and is estimated to grow at a CAGR of 7.53% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. The proliferation of the Internet of Things (IoT) and the increasing adoption of Industry 4.0 technologies in various regions worldwide are primary growth catalysts. Furthermore, market participants are investing heavily in Research and Development (R&D) to innovate and improve voltage regulator technologies, thereby expanding their product offerings and enhancing their competitive positions. These trends are expected to fuel the market's growth in the coming years.
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The Market refers to the industry that produces and supplies voltage regulators for various electronic devices and electrical systems. Voltage regulators are essential components in circuits that ensure a stable power supply by maintaining a constant output voltage despite variations in input voltage and load conditions. They are used in various applications, including telecommunications, power supplies, and electrical systems. Voltage regulators come in different types, including shunt regulators, switching voltage regulators, linear voltage regulators, electro mechanical regulators, and ferro resonant regulators. The choice of regulator type depends on the specific application requirements, such as energy efficiency, energy consumption, tolerance range, and load conditions. Voltage regulation technologies have evolved significantly over the years, with switching regulators and linear regulators being the most common types. Switching regulators offer higher efficiency and smaller size, while linear regulators provide better stability and accuracy. The market landscape depends on Electronic device, Circuit, Output terminals, Static VAR compensators, Power quality improvement devices, Electrical and electronic systems, Electronic tap switching regulators. Voltage regulators play a crucial role in preventing overvoltage and undervoltage conditions in power networks. They ensure that the output voltage remains within the tolerance range, providing a stable power supply to the load. The global market is expected to grow significantly due to the increasing demand for energy-efficient power supplies and stable power supplies in various industries. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rapid growth of IoT is notably driving the market growth. The IoT technology enables an Internet-connected device to use various sensors and actuators to gather, catalog, and transfer data to other computing devices on a real-time basis. The developments in wired and wireless communication technologies, telecommunication standards, human-machine interface (HMI) technologies, and initiatives taken by governments to implement advanced technology-driven systems and solutions are driving the demand for these IoT devices.
It is to be noted that Cisco estimates the total number of connected devices across the globe to reach 500 billion by 2030. IoT devices are equipped with semiconductor integrated circuits (ICs), microcontrollers, sensors, and other analog and digital components. The robust growth of the IoT in all key geographies is increasing the demand for IoT chipsets for integration into IoT devices. Reportedly, spending on the Internet of Things (IoT) across enterprises increased by 22.0% to USD158 billion in 2021. This, in turn, is driving the demand for voltage regulators. Hence, such factors are driving the market during the forecast period.
The growing popularity of smart wearables is the primary trend in the market. Smart fabrics, smartwatches, heart rate monitors, fitness bands, and smart glasses, monitor the fitness levels of users while offering various other benefits to them. Smart wearables technology has been gaining a lot of traction across all key regions worldwide.
Voltage regulators constitute the core of these solutions, as this component adds critical functionality to smart wearables. The continuous increase in the penetration of these solutions among customers is opening doors to immense growth opportunities for players in the global voltage regulators market. Many other companies, which see immense growth potential in this product segment, are also entering the market. This is expected to fuel the growth of the global voltage regulators market during the forecast period.
An increase in design complexity due to miniaturization is the major challenge impeding the market. Voltage regulators are small-sized components that contribute significantly to the overall functioning of final solutions. As miniaturization continues to gain traction across all key industry verticals, component manufacturers are being pushed toward increasing their capital investments in procuring machinery that can aid in manufacturing smaller components.
Furthermore, continuous pressure from the end-users of voltage regulators to reduce lead time has been forcing companies to modify their manufacturing processes and designs at very short intervals. Addressing the costs needed to carry out such modifications is a major challenge for many market players as for this companies must also increase their budgets and make huge investments in procuring costly equipment. The inability to do so affects the revenue generation by companies. Hence, such factors are hindering the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Texas Instruments - The company offers voltage regulators such as TPS7A74, TPS7A16A, TPS7A43. The segment covers various product lines such as power, signal chain, and high volume which includes integrated analog and standard semiconductor products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth of the tap-switching voltage regulator segment will be significant during the forecast period. This type of voltage regulator can automatically regulate voltage by switching taps on the isolation transformer. This eliminates the problems of voltage fluctuation, sag, and surge, while also removing transients, high-frequency impulses, and noise. The advantage of this type is its high efficiency, fast correction time, and the capacity to package larger kilo-volt ampere (KVA) systems into a comparatively small enclosure.
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The tap-switching voltage regulator segment was valued at USD 10.83 billion in 2018 and continued to grow until 2022. The segment is expected to witness accelerating growth during the forecast period as end-user industries are adopting various recovery strategies. Also, the demand for tap-switching voltage regulators is expected to increase as the demand for consumer electronics products increases globally. Notably, this segment accounted for the largest market share of 46.08%, which is a driving factor for the growth of this segment during the forecast period.
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APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China is a major revenue contributor and represents the largest market for voltage regulators in the region. A primary factor driving the growth of the market in focus is the growing demand for semiconductors from the automotive, aerospace, electronics and electrical, healthcare, and communication industries, especially across countries such as China, Japan, India, and South Korea. Rising disposable income and a growing middle-class population in the region are expected to continue accelerating the demand for automobiles and consumer electronics. The easy availability of skilled workforce and raw materials in many countries in APAC is attracting investments from various companies. However, governments of various countries in the region are expected to give stimulus to manufacturing sub-sectors, which is, in turn, expected to drive the growth of the voltage regulators market in APAC during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The Market caters to the demand for maintaining a consistent output voltage in electronic devices, despite fluctuations in input voltage or load conditions. Voltage regulators are crucial components in various electronic circuits and power supplies, ensuring energy efficiency and minimizing energy consumption. They are extensively used in battery-powered devices, portable devices, and electronic equipment across numerous sectors. In the Renewable energy sector, voltage regulators play a significant role in solar and wind power generation systems, ensuring stable power output. Data centers, cloud computing, digital services, and IT infrastructure also rely on voltage regulators for uninterrupted power supply. Industrial automation, robotics, manufacturing, and IoT applications further expand the market's scope. Small businesses and industrial settings also utilize voltage regulators in smart homes, home automation systems, smart TVs, computers, gaming consoles, and other electrical systems. Voltage regulators protect against overvoltage and undervoltage conditions, ensuring the reliable functioning of electrical networks and power systems.
Market Scope |
|
Report Coverage |
Details |
Page number |
192 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.53% |
Market growth 2024-2028 |
USD 12.03 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.86 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 46% |
Key countries |
China, US, South Korea, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Analog Devices Inc., Diodes Inc., Eaton Corp. Plc, General Electric Co., Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., Renesas Electronics Corp., Ricoh Co. Ltd., ROHM Co. Ltd., Schweitzer Engineering Laboratories Inc., Semtech Corp., STMicroelectronics International N.V., Texas Instruments Inc., Torex Semiconductor Ltd., Toshiba Corp., VICOR CORPORATION, and Vishay Intertechnology Inc. |
Market dynamics |
Parent market analysis, market trends, market growth analysis, market research and growth, Market forecasting, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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