LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global sapphire-based power devices market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global sapphire-based power devices market will grow at a CAGR of around 6% during the forecast period. The proliferation of LTE network and subsequent demand for LTE-enabled smartphones is a major factor driving the market’s growth.
The mobile data traffic grew by 63% around the world in 2016. 4G data traffic accounted for around 69% of the traffic, and mobile video accounted for 60%. With the advent of new technologies, network operators have been under significant pressure to provide their customers a higher quality of service and better experience without increasing the prices. The ongoing roll-out of voice over long-term evolution (VoLTE) should help operators across the globe in realizing their aim to provide a substantially higher service quality with a marginal increase in price.
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In this report, Technavio highlights the increase in industrial and building automation as one of the key emerging trends driving the global sapphire-based power devices market:
Increase in industrial and building automation
The manufacturing industry and real-estate sector have been shifting their focus toward industrial and building automation. Building automation refers to the automation of a building's key functions that include heating, air conditioning, and lighting. Likewise, industries are using information technology and control systems such as computers and machines to replace the human workforce. Industry 4.0 is an upcoming trend, which aims at automating the factories completely. With Industry 4.0, the manufacturing industry is expected to witness a digital transformation of production processes using machine control and robots.
“The increasing demand for automation systems is inspiring manufacturers to shift their attention to optimization in the areas of efficiency and low power consumption. Power devices play a vital role in ensuring efficient power consumption. Industrial motor drives are used extensively in machines and equipment during the automation process. This is contributing to the growth of the sapphire-based power devices market,” says a senior analyst at Technavio for research on embedded systems.
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Global sapphire-based power devices market segmentation
This market research report segments the global sapphire-based power devices market into the following applications (PFC, industrial motor drives, renewable energy, and UPS) and key regions (the Americas, APAC, and EMEA).
The PFC segment held the largest share of the global sapphire-based power devices market in 2017, accounting for a market share of around 53%. The share of this segment is expected to decrease to some extent by 2022. However, this segment will dominate the market throughout the forecast period.
APAC accounted for the largest share of the global sapphire-based power devices market in 2017, contributing a share of around 75% to the global market. It was followed by the Americas and EMEA. The APAC region will dominate the market through the forecast period.
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