New York City, NY, 21 February, 2020/ 24 Market Reports: It is estimated for the global electric load market to grow from USD 3.3 billion in 2019 and reach that of USD 4.1 billion by 2024, witnessing the growth at a CAGR of 6.8% during the forecast period of 2019 to 2024. The increasing investments in wireless communication for the deployment of a 5G network are the factor that is driving the growth of the market during the forecast period.
Low voltage electronic load to hold the highest share in the market during the forecast period
By voltage, the global electronic load market is segmented into low and high voltage electronic load. In the year 2018, the low voltage electronic load accounted for the highest share in the market and the trend is estimated to continue throughout the forecast period. Growing demand for testing and measuring of equipment at the early stage of development to avoid malfunctioning at a later stage is the factor that is driving the growth of the market during the forecast period.
DC segment to grow at the fastest rate in the market during the forecast period
Based on the current type, the electronic load market is been segmented into DC and AC electronic load. During the forecast period, it is expected for the DC segment to be the fastest-growing market. For testing the power devices such as power supplies, power converter and inverter testing, batteries, automotive charging stations, solar panels, fuel cells and other power electronics components the use of DC electronic loads take place. The increase in the usage of these devices is projected to surge the market for DC segment.
Wireless communication, by application, to hold the largest share in the market
Wireless communication and infrastructure, by application, is expected to account for the largest share in the market during the forecast period. Wireless infrastructure is the support system for communication and an essential component for any country’s economy. Aerospace, automotive, and consumer electronics, among others, are the verticals the wireless sector is used in as it provides a reliable control system and improves productivity. Thus, the demand for electronic load for various wireless and power supply testing to ensure efficient operation of the electronic components is estimated to rise with the increasing dependency on wireless communication.
North America to dominate the global market during the forecast period
North America, South America, Europe, Asia Pacific Middle East & Africa are the segmentation for the market based on geography. During the forecast period, it is expected for North America to be the largest market for electronic loads. The increased investment in R&D across various end-use sectors in the region is driving the growth of the market in the region. The adoption of 5G technology in the region is also estimated to boost the growth of the market during the forecast period.
The following are the major objectives of the study:
- To define, describe, and forecast the global electric load market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global electric load market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for global electric load market and their future potential during next decade?
- How competitive landscape is evolving in global electric load market?
