The Digital Power Electronics Market size is estimated to reach US$42.8 billion by 2030, growing at a CAGR of 5.1% from 2022 to 2030.

Digital Power Electronics Market Overview:

Emphasis on renewable energy in power generation, increasing acceptance of automation and Industry 4.0 are fueling the growth of the digital power electronics industry. In addition, growing demand for consumer electronics and electric vehicles is fueling the demand for digital power electronics, boosting the market size. Various substrate materials such as gallium nitride, silicon carbide, silicon and sapphire are used to create digital power IP cores and microcontrollers that effectively enhance the functionality of integrated circuits, increasing the profitability of digital power electronics. Demand for digital power electronics is also growing across vertical industries due to advantages such as simplified circuitry, forward and reverse backup capabilities, compact design, and the ability to withstand high voltages and currents while consuming ultra-low power. These aforementioned factors are positively impacting the digital power electronics industry outlook over the forecast period.

Digital Power Electronics Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Digital Power Electronics Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In May 2022, Lattice Semiconductor Corp launched the MachXO5-NX FPGA series. These digital power electronics systems enhance system monitoring and control in automotive, industrial, and telecom applications.
• In September 2021, Renesas Electronics announced the release of the RX671 group of 32-bit microcontrollers. These microcontrollers can provide high performance and high functionality with touch sensing. This allows the company to increase its share in the Digital Power Electronics market.
• In June 2021, Mitsubishi Electric announced the launch of seven new X-series products, including two HVIGBTs and five HVDIODEs. These digital power electronics modules are suitable for large capacity, small inverters used in traction motors, DC power transmitters, and other high voltage equipment.

Major Market Segments Covered in Digital Power Electronics Market Industry Research:

Market Key Players:
ABB Group, Fuji Electric Co, Infineon Technologies AG, Lattice Semiconductor, Mitsubishi Electric, Renesas Electronics Corporation, Rockwell Automation, STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation

By Type:

• External AC-DC Converter
• Embedded AC-DC Converter
• DC-DC Converter

By Substrate:

• Gallium Nitride
• Silicon Carbide
• Silicon and Sapphire

By Components:

• Digital Power Management Integrated Circuits
• Digital Power Control IC
• Field Programmed Gate Array (FPGA)
• Digital Signal Processors (DSP)
• Power Modules
• Discrete Devices
• Others

By Application:

• Consumer Electronics
• IT and Telecommunications
• Industrial
• Automotive
• Transportation
• Aerospace
• Military and Defense
• Others

By Region:

APAC dominated the global market for Digital Power Electronics with a market share of 38% in 2021. It is also analyzed to have witnessed significant growth during the forecast period. Increasing industrialization, presence of major automobile manufacturers, and increasing investments in the power sector are fueling the market growth. Additionally, with growing environmental concerns and a growing shift to green energy production, local governments are taking various initiatives to expand renewable energy production to meet electricity demand. According to the India Brand Equity Foundation, in the Union Budget 2022-23, the Government of India has allocated US$2.57 billion for PLI initiatives to develop solar energy production units. These factors are creating demand for digital power electronics and increasing the market size in the APAC region.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Market Drivers

Global demand for electric vehicles is expected to drive the digital power electronics market. Digital power electronics are used in many vehicle components, such as windshield wiper controls, interior lighting, ignition switches and power steering. Digital power electronics are critical to managing electrical energy in electric vehicles. Consequently, the rapidly expanding electric vehicle industry is expected to drive the digital power electronics market over the forecast period. According to a May 2022 report released by the International Energy Agency, sales of electric vehicles in the United States in 2021 doubled from the previous year to 6.6 million, setting a new record. This increase in electric vehicle adoption will positively impact the digital power electronics industry outlook over the forecast period.

A shift in electricity production from fossil fuels to renewable sources has been observed in recent years. This has led to continued growth in new installations for renewable energy sources. Digital power electronics play a key role in converting electrical patterns into energy-efficient renewable energy. Digital power electronics convert and control AC and DC power. Digital power electronics based power converters are also widely used in renewable energy systems, primarily wind and solar energy systems. Additionally, government initiatives on green energy and investments in renewable energy generation have also boosted the demand for digital power electronics. In July 2020, the Ministry of Finance of the Republic of China announced an increase in the renewable energy subsidy budget to $13 billion, a 7.5% increase over the previous year's budget. These developments and initiatives will create ample opportunities for the digital power electronics market to grow.

Power electronics require the use of expensive raw materials and compounds such as silicon carbide, gallium nitride, sapphire and silicon. Additionally, highly complex, costly and time-consuming manufacturing processes of digital power electronics restrain the growth of the market. These electronic devices introduce significant harmonics into the power source as well as connected devices or circuits, causing excessive heat, radio interference, torsional vibration, rectification problems and other problems in the equipment. This also hinders market growth.

Digital Power Electronics Market report scope:

Report Attributes	Details
By Type	External AC-DC Converter, Embedded AC-DC Converter, DC-DC Converter
By Application	Consumer Electronics, IT and Telecommunications, Industrial, Automotive, Transportation, Aerospace, Military and Defense, Others
By Companies	ABB Group, Fuji Electric Co, Infineon Technologies AG, Lattice Semiconductor, Mitsubishi Electric, Renesas Electronics Corporation, Rockwell Automation, STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

Key Takeaways from this Digital Power Electronics Market Report

• Estimate Digital Power Electronics Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Digital Power Electronics Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What are the key types of Digital Power Electronics Market?

External AC-DC Converter, Embedded AC-DC Converter, DC-DC Converter

What are the key applications of Digital Power Electronics Market?

Consumer Electronics, IT and Telecommunications, Industrial, Automotive, Transportation, Aerospace, Military and Defense, Others

Who are the key players in Digital Power Electronics Market?

ABB Group, Fuji Electric Co, Infineon Technologies AG, Lattice Semiconductor, Mitsubishi Electric, Renesas Electronics Corporation, Rockwell Automation, STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation