Product ID: SQMIG20D2246
Converter Modules Market Size, Share, Growth Analysis, By Type(DC-DC Converter Module, DC-AC Converter Module), By Application(IT & Telecommunication, Industrial) - Industry Forecast 2024-2031
Report ID:
SQMIG20D2246 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|
Tables:
66 |
Figures:
72
Converter Modules Market Insights
Global Converter Modules Market size was valued at USD 9.2 billion in 2022 and is poised to grow from USD 9.83 billion in 2023 to USD 16.77 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).
Converter modules are used to convert digital signals to analog or vice versa for high-voltage applications. Surging adoption of high-voltage devices and growing investments in new power infrastructure development are also forecasted to bolster the demand for converter modules over the coming years. Electrification of different industry verticals is also estimated to open new avenues of opportunities for converter module suppliers across the forecast period. The growing popularity of alternative energy sources as the focus on sustainability rises, will also uplift sales of converter modules in the future. Converter modules also help electrical component manufacturers reduce their overall manufacturing costs and simplify their circuit designs.
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
