Power Inductor Market Trends

Growth Drivers

• Growing Advancements and Breakthroughs in Consumer Electronics- The consumer electronics sector is one that is dynamic and changing quickly, with market competitors competing fiercely and game-changing technological advancements happening all the time. Consumer electronics producers are benefiting from these technical advancements and improvements as they work to improve the features and caliber of their goods. Additionally, it is anticipated that they would increase the overall quantity of inductors utilized in the consumer electronics industry. Moreover, the adoption of inductors has been driven by manufacturers' growing focus on new technologies and the growing uptake of some of the major emerging technologies, such as artificial intelligence (AI) and the Internet of Things (IoT). By 2024, the IoT market is expected to reach a value of over USD 1 trillion, according to Exploding Topics. By 2030, 500 billion gadgets are anticipated to be online, according to recent research. Moreover, nearly 127 new IoT devices connect to the internet every second.
• Increasing Use of Electric Cars- The production of electric vehicles has increased significantly in recent years and is predicted to continue to grow in the years to come. The development of electric vehicles has advanced at an extremely rapid rate. Due to the growing popularity of electric vehicles, electronic components will play a bigger role in the development of linked automobiles and advanced driving assistance systems (ADAS). The demand for passive components is predicted to rise as a result of numerous large automakers and recently established automakers increasing the production volume of electric vehicles in response to tighter environmental restrictions. These electric cars are powered by IoT and AI and come with new technology installed. Inductors will likely become more in demand in the upcoming years as electric car use rises.
• Data-driven Decisions Aid Businesses in Supply Chain Optimisation- Businesses in the power inductor market are scaling up component manufacturing in different parts of the world based on the severity of the pandemic in those areas by using data-driven insights. Rich companies are working harder to automate data collecting procedures as quickly as possible. To optimise their supply chains, they are innovating and making investments in all of the various sales channels, including E-Commerce.

Challenges

• Growing complexity as a result of inductors getting smaller- Products are getting smaller and have more features, but they are also getting more sophisticated. The size of mobile devices with sophisticated complex functions is continuously decreasing. Reduced size and thickness are necessary for the power inductor for such products, which include wristband-style wearables, smartwatches, and Internet of Things devices like sensor network devices. For extended operation times, these devices also require extremely efficient power supply circuits. There is a rise in the use of multi-core and higher-speed processors for efficiency and performance due to the shrinking size and thickness of wearables like smartwatches. This opens the door for all necessary components, including inductors, to get smaller.
• The unstable costs of the basic materials needed to produce power inductors is hampering the growth of the power inductor market.
• Tight government rules that place a cap on manufacturers are impeding the expansion of the power transformer business.