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The AC and DC adapters market size is forecast to increase by USD 3.40 billion, at a CAGR of 4.09% between 2023 and 2028. The market's growth trajectory is influenced by several pivotal factors. Firstly, there's a notable surge in the adoption of premium smartphones across emerging economies, driven by rising disposable incomes and a growing tech-savvy population. Moreover, the emergence of hybrid smartwatches and the increasing demand for smartwatches are reshaping the market landscape, fueled by consumers' desire for multifunctional wearable devices that blend style with advanced features. Additionally, there's a growing demand for laptops and tablets in educational institutions, propelled by the transition towards digital learning environments and the need for remote education solutions. These trends underscore the evolving consumer preferences and technological advancements driving the expansion of the AC and DC power adapters market, positioning it for continued growth in the foreseeable future. Our report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.
Furthermore, in recent years, the consumer electronics sector in APAC has changed dramatically due to advances and the emergence of various new technologies. Moreover, countries such as India and China contribute significantly to the regional sales of consumer electronics. The demand for devices such as smartphones, laptops, and smartwatches, among others, is expected to increase during the forecast period as Internet penetration increases in these countries. Additionally, Belkin International Inc. company offers AC and DC adapters such as USB C adapters for Mac, PC laptops, and Chromebook. Also, Chicony Power Technology Co. Ltd company offers AC and DC adapters such as NB 45W OTS, Networking 48W Custom, Consumer 180W Custom, and Smart home 33W Custom.
Market Forecast 2024-2028
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The market is witnessing remarkable growth driven by the increasing demand for mobile devices, smart home appliances, and wearables. These adapters serve as the vital link between alternating current (AC) power from the wall socket and the direct current (DC) power required by electronic gadgets. With advancements in electronic components such as transformers, rectifiers, and voltage regulators, these adapters ensure efficient power conversion for a wide range of applications including smart medical devices, portable medical equipment, and home care applications. The market is also fueled by the rising adoption of smart furniture integrated with charging capabilities, catering to modern lifestyle needs. As AC adaptor and chargers become indispensable power sources in daily life, the AC and DC power adapters market is poised for continuous expansion. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Educational institutions such as schools and universities are adopting laptops and tablets in their classrooms owing to factors such as low costs, rising necessity, and convenience. Laptops and tablets help students with notetaking, collaborating with other students, writing and editing, organizing assignments and assessments, and interactive learning. Several schools are adopting virtual technologies, such as augmented reality (AR) and virtual reality (VR), using immersive learning and providing online courses, which allow students to learn at their own convenience.
Consequently, such factors are leading to an increase in the demand for laptops, which is driving the growth of the AC and DC power adapters market. Numerous educational institutions across the world are adopting BOYD policies to improve the efficiency of teachers and help students with learning. The increasing use of laptops and tablets due to the BOYD policies in educational institutions will accelerate the demand for AC and DC adapters, which, in turn, will spur the market growth analysis during the forecast period.
The popularity of computer video games is increasing across the world, especially among the youth. This facilitates the sale of gaming laptops. Though gaming laptops are similar to traditional laptops, they have higher computing power and are specifically designed for video games. Many gamers prefer gaming laptops to desktops due to features such as advanced specifications and portability. The increasing penetration of the Internet and the popularity of multi-player video games such as Counter-Strike have led to the development and commercialization of gaming, which, in turn, is fueling the demand for gaming laptops.
Moreover, in gaming devices, power adapters typically work in conjunction with the internal battery management system to ensure that the device receives sufficient power supply. Furthermore, PC gaming is gaining popularity as a profession, which will influence the sales of gaming laptops. Thus, the increasing adoption of gaming laptops is expected to increase the demand, which, in turn, is anticipated to have a positive impact on the growth of the market in focus during the forecast period.
The cost of labor, raw materials, transportation, and promotion are just a few of the variables that affect the market price. Manufacturing costs, labor costs, and raw material prices account for a sizable part of these expenses. The product cost of AC and DC adapters or the profit margins of manufacturers are impacted significantly by changes in the prices of raw materials. The procurement and use of numerous raw materials, including steel, plastic, and electrical devices, among others, are necessary for manufacturing AC and DC adapters. The cost of these raw materials could be erratic and susceptible to changes.
Further, fluctuations in crude oil prices affect the transportation costs of raw materials as well as finished products. The delivery of raw materials to factories and intermediate goods to manufacturing plants, as well as the transportation of finished goods to warehouses and their delivery to end-users, all incur high transportation costs, including taxes, duties, and fuel costs. In addition, rising transportation costs and raw material prices increase the cost of the final product. Hence, such factors may impede market growth during the forecast period.
The market is experiencing significant growth fueled by the increasing demand for AC adapter, power supplies, and AC-DC converters. These adapters, commonly referred to as wall warts, serve as essential power source for various electronic devices. With their ability to efficiently convert alternating current (AC) to direct current voltage, they play a crucial role in powering gadgets like smartphones and tablets. As the need for charger continues to rise, the market is expected to expand further.
The smartphones segment will account for a major share of the market's growth during the forecast period.? The widespread adoption of smartphones has led to a surge in demand for AC and DC adapters. Consumers rely on AC and DC adapters to keep their smartphones powered up and operational throughout the day. The demand for fast-charging technology is on the rise, driven by consumer desire for quick and convenient charging solutions. Manufacturers of AC and DC adapters are developing fast-charging battery chargers that can replenish and recharge device batteries rapidly, reducing downtime and improving user experience.
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The smartphones segment was valued at USD 7.46 billion in 2018. Further, with consumers relying more on smartphones for communication, productivity, entertainment, and other daily tasks, the need for convenient and reliable charging solutions has grown. Also, factors like the increasing adoption of premium smartphones in emerging economies such as India, along with the increasing online purchases of smartphones, are also spurring the demand for AC and DC adapters in the smartphones segment, which, in turn, will fuel the growth of the market during the forecast period.
Based on type, the market has been segmented into wall adapters, and desktop adapters. The wall adapters?segment will account for the largest share of this segment. The expanding consumer base for smartphones, combined with the growing tendency of frequent smartphone updates, is propelling adapters to expand the wall adapters segment during the forecast period. Furthermore, demand for fast-charging technology is increasing globally, driven by consumer desire for quick and convenient charging solutions, which is driving wall adapter manufacturers to focus on technological innovations in order to provide a reliable and stable power supply, which reduces downtime and improves user experience. Also, increasing innovation is also driving the wall adapters segment. Thus, such factors will drive market growth during the forecast period.
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APAC is estimated to contribute 48% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. China and India lead the world in smartphone users, making the APAC region a significant contributor to the AC and DC powadapters market. Innovations like superfast chargers cater to the region's demand, driven by consumer willingness to pay for cutting-edge electronics. Economic growth and urbanization in APAC, particularly in China, India, and Southeast Asia, boost the adoption of electronic devices like smartphones and tablets, all reliant on AC and DC adapters. With a thriving manufacturing base and ongoing R&D in battery and charging tech, APAC remains a hub for technological innovation, further propelling the growth of the market in the region.
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.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AcBel Polytech Inc., CUI Inc, Flex Ltd., FSP Group, LITE ON Technology Corp., Mean Well Enterprises Co. Ltd., MINMAX Technology Co. Ltd., MOMAX Technology HK Ltd., Mornsun Guangzhou Science and Technology Co, Ltd., Orico Technologies Co. Ltd, Panasonic Holdings Corp., Phihong USA Corp., Salcomp PLC, Salom America Co., SynQor Inc., TDK Corp., and XP Power
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market is experiencing a profound transformation driven by diverse sectors like the medical and healthcare industry, military & aerospace industry, and the ever-evolving landscape of consumer electronics such as PCs, 5G smartphones, and electric vehicles (EVs). USB power adapters including the renowned Apple USB power adapters are integral to charging these devices. With innovations like the BoostCharge Convertible Qi2 Pad and Wireless Charging Pad, the market is witnessing a surge in demand for efficient and convenient charging solutions. As AC-DC power supply adapters cater to various sectors and applications, from charging smartphones to powering small appliances, their importance in the medical sector and automotive sector is paramount. The market thrives on advancements in voltage conversion technology to meet device's power requirements, making AC-DC power adapter indispensable across residential, commercial, and industrial domains.
Further, in the realm of power supply solutions, AC-DC adapters play a pivotal role, catering to various sectors and applications, from charging laptops to powering electrical devices. With the surge in foreign direct investment (FDI), innovations like the Delta 500 kW DC and the BoostCharge Pro Magnetic Stand are reshaping the market landscape. These AC adapters come in diverse forms, enclosed in plastic or metal containers, with input connectors and output connectors facilitating seamless integration. They deliver precise output voltage and output current, ensuring optimal performance across different devices and scenarios. As a fundamental component, AC-DC power adapters bridge the gap between high voltage from the power grid and the lower voltage requirements of low-voltage high-current processors in modern consumer electronics and computers. With advancements in AC-DC power supply adapter technology like PowerWave, the market is poised for continued growth, catering to the evolving needs of households, commercial establishments, and building automation frameworks in an increasingly digital world.
Industry Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.09% |
Market growth 2024-2028 |
USD 3.40 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.57 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AcBel Polytech Inc., Belkin International Inc., Chicony Power Technology Co. Ltd, CUI Inc, Delta Electronics Inc., Flex Ltd., FSP Group, LITE ON Technology Corp., Mean Well Enterprises Co. Ltd., MINMAX Technology Co. Ltd., MOMAX Technology HK Ltd., Mornsun Guangzhou Science and Technology Co, Ltd., Orico Technologies Co. Ltd, Panasonic Holdings Corp., Phihong USA Corp., Salcomp PLC, Salom America Co., SynQor Inc., TDK Corp., and XP Power |
Market dynamics |
Parent market analysis, 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 Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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