The Global converter modules market is anticipated to expand from USD 8040 million to USD 12 995 million by 2025. This growth is expected at a CAGR of 7%. What boosts the market size and dimension is the increase of IT and telecom sectors. Usually, the converter modules are the devices that alter the analog signals to digital signals or analog to digital. This signal conversion is for high-end applications. One of the most common examples of converter module usage is SMPs in data centers. Besides, the rising usage of battery-driven automobiles has also increased the global converter module market size. You can find an application of these converter modules in several other industries as well. You can find usage in the healthcare industry, logistics, defense, and several other domains in vertical.
The Converter modules deployed in the power components help either step up or down the voltage as needed by the end-user. In most cases, end-users and key market players prefer using a DC converter module to lower power consumption. Utilizing the convert modules also empowers end users to isolate the circuit all eliminate any potential breakdown. The increasing need for a power-saving solution to satisfy the end-users is one major reason behind the global market expansion.
The government initiatives to augment earning measures extend the product range and targeted investment in growth. The increasing usage of converted modules in the Ethernet, VOIP, remote, cameras, and many other power components also expands the market size.