Industrial Switch Mode Power Supply (SMPS) Market Revenue was valued at USD 5.5 Billion in 2024 and is estimated to reach USD 9.2 Billion by 2033, growing at a CAGR of 6.1% from 2026 to 2033.
The global Industrial Switch Mode Power Supply (SMPS) market was valued at approximately USD 9.8 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030. This growth is driven by the rising demand for energy efficient power conversion solutions across industrial automation, process control, and manufacturing sectors. The increasing adoption of Industry 4.0 technologies, such as IoT and machine learning in industrial equipment, has accelerated the demand for compact and reliable power supply units. Applications in robotics, CNC machinery, and data acquisition systems are further contributing to the rising consumption of SMPS in the industrial domain. Additionally, the market is witnessing a shift toward DIN rail and enclosed SMPS types due to their space saving designs and thermal management advantages.
Regionally, Asia Pacific held the largest market share in 2022, accounting for over 40% of the global revenue, fueled by rapid industrialization in China, India, South Korea, and Southeast Asia. The region benefits from strong growth in manufacturing and electronics sectors, creating significant opportunities for SMPS manufacturers. Europe followed as the second largest market, driven by demand in industrial automation and green energy systems in Germany, France, and the Nordic countries. North America also maintained a substantial share due to its investments in smart factories and modernization of legacy systems. Latin America and the Middle East & Africa markets are emerging with increasing infrastructure development and industrial expansion, offering untapped opportunities for SMPS adoption in energy, transportation, and utility applications. Government incentives for energy efficient technologies across regions further enhance the market’s potential for growth.
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DELTA
Lite-On Technology
MEAN WELL
Chicony Power
Siemens
AcBel Polytech
Schneider
ABB
Omron
Puls
PHOENIX
TDK-Lambda
Cosel
MOSO
4NIC
Weidmuller
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Switch Mode Power Supply (SMPS) Market
AC-DC Converters
DC-DC Converters
Isolated SMPS
Non-Isolated SMPS
Below 100W
100W to 500W
500W to 1kW
Above 1kW
Industrial Automation
Telecommunications
Consumer Electronics
Medical Equipment
Renewable Energy Systems
Embedded SMPS
Modular SMPS
Open Frame SMPS
Enclosed SMPS
Low Voltage (up to 30V)
Medium Voltage (31V to 100V)
High Voltage (above 100V)
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Switch Mode Power Supply (SMPS) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Switch Mode Power Supply (SMPS) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Switch Mode Power Supply (SMPS) Market, By Type
6. Global Industrial Switch Mode Power Supply (SMPS) Market, By Application
7. Global Industrial Switch Mode Power Supply (SMPS) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Industrial Switch Mode Power Supply (SMPS) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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