Global Power Device Analyzer Market Report and Forecast 2024-2032

Global Power Device Analyzer Market Outlook

The global power device analyzer market size reached approximately USD 489.26 million in 2023. The market is projected to grow at a CAGR of 4.6% between 2024 and 2032, reaching a value of nearly USD 734.05 million by 2032.

Key Trends in the Market

A power device analyzer is a tool utilised for assessing the effectiveness and dependability of power electronic components, such as inverters, motor drives, and battery management systems. This instrument enables engineers and experts to evaluate the performance and reliability of these components accurately.

• Power device analyzers are extensively employed in the automotive sector to assess the effectiveness and dependability of various electronic components. Hence, the power device analyzer market growth can be attributed to the rising demand for electric vehicles (EVs) and the growing requirement for advanced electronic components in EVs. Additionally, the advent of autonomous vehicles is anticipated to drive the demand for power device analyzers for testing and evaluating sophisticated power systems.

• The ongoing global shift towards sustainable energy sources has propelled the power device analyzer market demand. The rapid development of renewable energy sources is creating the need for efficient power conversion and grid integration technologies. Power device analyzers are essential tools for analyzing and optimising the performance of various systems used in renewable energy applications.

• The growing demand for IoT devices is one of the major power device analyzer market trends. IoT devices typically operate on limited power sources such as batteries or energy harvesting systems, and they are often deployed in diverse and resource-constrained environments. The growth of the market is fuelled by developments in IoT devices as they require thorough testing of power and structure to ensure seamless operation and communication.

Market Analysis

Based on type, the market is segmented into AC, DC, and both AC and DC. The global power device analyzer market segmentation, based on current, includes below 1000A and above 1000A. The market, based on end use, is categorised into automotive, energy, telecommunication, consumer electronics and applications, and medical, among others. The major regional markets for power device analyzer are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global power device analyzer market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Fluke Corporation

• Rohde & Schwarz GmbH & Co KG

• Yokogawa Test & Measurement Corporation

• Texas Instruments Incorporated

• Iwatsu Electric Co., Ltd.

• Vitrek Corporation

• HIOKI E.E. CORPORATION

• Arbiter Systems Inc.

• Carlo Gavazzi Holding AG

• Circutor S.A.

• DEWESoft d.o.o.

• Others

Market Share by End-Use

According to the power device analyzer market analysis, the consumer electronics and appliances sector is anticipated to hold a considerable share of the market in the forecast period. With growing disposable incomes, there is a surge in the demand for a wide range of consumer electronics, including air conditioners, smartphones, refrigerators, laptops, smart TVs, and smartwatches, among others. Hence, the notable growth of the consumer electronics sector necessitates the use of power device analyzers to ensure the proper functioning of various appliances.

Market Share by Type

Both AC and DC analyzers cover a significant portion of the global power device analyzer market share. The surge in mandatory regulations and government initiatives promoting routine inspections, particularly in the context of the rising adoption of electric vehicles (EVs), has substantially contributed to the expansion of the segment.

The increasing demand for the Internet of Things (IoT) devices has emerged as another pivotal driver, creating a heightened need for both AC and DC analyzers.

Competitive Landscape

Fluke Corporation, headquartered in Washington, the USA, is a prominent producer of electronic test and measurement devices. Established in 1948, the company has gained a strong reputation for manufacturing top-notch, dependable, and durable instruments that are extensively utilised by professionals spanning diverse sectors.

Rohde & Schwarz GmbH & Co KG, founded in 1933 and based in Munich, Germany, is a renowned global leader in test and measurement, communications, and broadcasting equipment. With a focus on high-quality electronic instruments, it develops and manufactures a diverse range of products, including spectrum analyzers, oscilloscopes, signal generators, and network analyzers, among many others.

Yokogawa Test & Measurement Corporation is a company that specialises in providing solutions for test and measurement. With a rich history dating back to 1915, Yokogawa has become a globally trusted supplier of precise instruments and equipment. Based in Tokyo, Japan, the company is dedicated to the development and manufacturing of state-of-the-art tools used for precise measurement and analysis across a wide range of sectors.

Other power device analyzer market players include Texas Instruments Incorporated, Iwatsu Electric Co., Ltd., Vitrek Corporation, HIOKI E.E. CORPORATION, Arbiter Systems Inc., Carlo Gavazzi Holding AG, Circutor S.A., and DEWESoft d.o.o., among others.

Key Highlights of the Report