Switching Power Supply Market Forecast to Reach $39.964 Billion by 2025 The Increase in Demand for Electric Vehicles is Thereby Set to Drive the Switching Power Supply Market
BriefingWire.com, 3/04/2021 - The Switching Power Supply Market is forecast to reach $39.964 billion by 2025, after growing at a CAGR of 5.68% during the period 2019-2025. Advancements in the semiconductor industry is attributed to increasing adoption of compact and efficient power supply equipment which offers higher efficiency and superior product life. Various R&D initiatives in the switching power supply market have resulted in replacement of the traditional silicon metal-oxide-semiconductor with the GaN FET which ensures faster switching speeds, higher efficiency and performance, thus escalating growth of the switching power supply market.