This high market demand for the switching mode power supply (SMPS) between the duration 2025 to 2035 is due to its greater compatibility with energy-efficient power conversion technologies for consumer electronics, industrial automation, powering medical equipment, and telecommunications.
With their high power efficiency and low heat dissipation, compactness, and lightweight nature, SMPS systems have become more favourable than traditional linear power supplies in modern electrical and electronic applications.
From USD 28,012.7 Million in 2025, the market will reach a volume of USD 40,284.9 Million by 2035 growing with a CAGR of 3.7%. Decarbonizing the energy mix, electrifying transportation system and enhancing data centre infrastructure drive that demand for reliable, high-efficiency power supplies. Moreover, to design SMPS with GaN (gallium nitride) and SiC (silicon carbide) devices, greater efficiency levels can be achieved, increasing switching frequencies and shrinking footprints.
Market Metrics
| Metric | Value |
|---|---|
| Market Size (2025E) | USD 28,012.7 Million |
| Market Value (2035F) | USD 40,284.9 Million |
| CAGR (2025 to 2035) | 3.7% |
Explore FMI!
Book a free demo
North America remains a major market for SMPS, due to widespread adoption in telecom infrastructure, industrial automation, and medical electronics. While demand for efficient power supplies in server farms and networking equipment is being driven by increasing investments in 5G networks and cloud computing.
And, in addition, those factors such as stringent regulations for energy saving standards and increasing adoption of electric vehicles (EVs) are driving the proliferation of SMPS in transportation electronics and EV charging infrastructure.
The advanced manufacturing sector and progressive energy policy make for strong market performance in Europe. SMPS finds its broader application in the fields of robotics, automotive electronics, and renewable energy systems, and countries like Germany, France, and the UK are adopting them rapidly.
And the European Union’s energy efficiency directives and transition of industries towards Industry 4.0 are paving the way for efficient, low-emission SMPS technologies to replace legacy systems. But the demand for modular and high-density power supplies is increasing throughout the region's growing EV and automation markets.
Asia-Pacific, the fastest-growing region, by virtue of large-scale electronic manufacturing and rapid urbanization in the countries like China, Japan, South Korea and India. China is the largest producer and exporter of consumer electronics and IT hardware, driving huge demand for miniaturized and high-efficiency power supplies.
Japan and South Korea, which are making significant investments in semiconductor and automotive technology, are rapidly adopting high-efficiency SMPS solutions for both industrial and consumer markets. India’s efforts on the digital infrastructure and smart manufacturing front are additional tailwinds for market opportunities.
Design Complexity and Electromagnetic Interference (EMI)
As beneficial as SMPS systems are, however, high-frequency switching operations tend to cause increased electromagnetic interference (EMI), which can affect vicinity-sensitive devices. Indeed, designing efficient filtering and shielding solutions increases overall complexity and cost.
In addition, thermal management is a major consideration for engineers designing systems, particularly for small footprint systems such as IoT devices or medical instruments that require mindful component placement in their design.
Integration of Wide Bandgap Semiconductors and IoT Connectivity
The changing towards wide bandgap materials like GaN and SiC, from Si, opens up numerous opportunities for the stakeholders in the SMPS market. These materials enable increased power densities, faster switching, and better efficiency, which can lead to the creation of ultra-compact, energy-efficient power systems for 5G equipment, EVs, drones, and even aerospace systems.
Concurrently, the adoption of smart SMPS systems with IoT-connected and digitized control functionalities is bringing in intelligent monitoring, predictive maintenance, and dynamic power regulation benefiting next-gen industrial and commercial applications.
The Switch Mode Power Supply (SMPS) market was growing steadily between 2020 to 2024 as there was increasing demand for energy-efficient power conversion in several applications in consumer electronics, industrial automation, and telecommunications.
Small SMPS units are now the standard power source for everything from laptops and cell phones to medical devices and industrial control systems, due to their small size, low heat rejection, and high overall efficiency. Manufacturers worked on optimizing conversion rates and thermal management, while also incorporating over-voltage and over-current protection functionality.
Growth was tempered somewhat by challenges such as electromagnetic interference (EMI), design complexity and shortages of key components. Nonetheless, the trend for smaller and high-frequency switching supplies provided healthy market traction across verticals.
Between 2025 to 2035, the market will progress with the development of AI-optimized power management systems, GaN-based converters, and IoT-integrated smart supplies. The move towards denser programmable SMPSs will enable power to be optimized in real-time in high-performance compute, EV, and renewables.
All this is coming at a time when energy efficiency regulations are getting tighter, and this will pave the way for the widespread adoption of wide-bandgap semiconductor materials such as GaN (gallium nitride) and SiC (silicon carbide).
We will also see modular SMPS units with digital interfaces, which will support remote monitoring, fault detection, and cloud-based diagnostics, revolutionising performance in critical infrastructure applications.
Market Shifts: A Comparative Analysis (2020 to 2024 vs. 2025 to 2035)
| Market Shift | 2020 to 2024 |
|---|---|
| Component Advancements | Use of silicon-based semiconductors for switching operations. |
| Applications | Predominantly used in consumer electronics, telecom, and medical devices . |
| Energy Efficiency Goals | Focus on reducing power loss and improving thermal performance. |
| Form Factor Innovation | Compact and fan-cooled units for mid-range applications. |
| Smart Integration | Basic analogue control and passive monitoring. |
| Market Growth Drivers | Driven by consumer tech, cost efficiency, and industrial automation. |
| Market Shift | 2025 to 2035 |
|---|---|
| Component Advancements | Transition to GaN and SiC for high-speed, high-efficiency performance. |
| Applications | Expansion into EVs, solar inverters, 5G infrastructure, and data centres . |
| Energy Efficiency Goals | Compliance with zero-standby power standards and AI-based energy control . |
| Form Factor Innovation | High-density, finless , modular SMPS with digital feedback loops. |
| Smart Integration | IoT-enabled supplies with real-time diagnostics and remote control features. |
| Market Growth Drivers | Fuelled by sustainability mandates, smart grids, and digital industrialization . |
The United States switching mode power supply (SMPS) market is forecast to expand at a CAGR of 3.5% during the period 2025 to 2035. Demand remains stable in the country for consumer electronics, industrial automation and healthcare devices. Growing demand for energy-efficient power solutions is also boosting adoption in data centres and IT infrastructure.
In addition, the digitalization both by the companies and households along with adoption of advanced electronics in automotive and telecom sectors is fuelling the SMPS installation across urban and semi-urban establishments.
| Country | CAGR (2025 to 2035) |
|---|---|
| United States | 3.5% |
The United Kingdom SMPS market is projected to grow at a CAGR of 3.6% during the forecast period. Market growth is also driven by rising investments in renewable energy projects and growing demand for compact and lightweight power systems across consumer and industrial segments.
In particular, the telecom and defence sectors are embracing SMPS technology for improved efficiency, reduced heat, and smaller package size. With continuous focus on sustainability, SMPS systems are preferred over their counterparts, owing to their energy conservation capabilities.
| Country | CAGR (2025 to 2035) |
|---|---|
| United Kingdom | 3.6% |
In Europe, the SMPS Market is expected to register the highest CAGR of 3.7% over the forecast period of 2025 to 2035. The expansion is supported by the region’s move towards electrification of manufacturing, the adoption of clean energy, and the rise of smart home technologies.
Germany, France, and the Netherlands have strong demand for SMPS units that are used in electric vehicle infrastructure, industrial machinery, as well as residential power systems. The EU’s energy efficiency directive is also prompting a shift away from the traditional power supply towards switching mode systems.
| Region | CAGR (2025 to 2035) |
|---|---|
| European Union | 3.7% |
Japan SMPS market is expected to grow at a CAGR of 3.4% during the forecast period. The strong adoption rate of robotics, electric vehicles, smart consumer electronics, etc. in the country would ensure the need for power supply units which are small in size and very reliable.
As SMPS-operating circuit technology advances, semiconductor technology must also pass SMPS tests, with limitations imposed by the requirements of miniaturization and thermal management, in addition to approaches for upgrading SMPS performance, improving their integration in critical applications like medical equipment and automation systems.
| Country | CAGR (2025 to 2035) |
|---|---|
| Japan | 3.4% |
In South Korea, the SMPS market is projected to grow at a compound annual growth rate (CAGR) of 3.8% for the next ten years. Demand for SMPS is driven heavily by the country’s robust consumer electronics manufacturing base as well as its dominance in semiconductor innovation.
The increasing demand for efficient power conversion solutions is also being fuelled by rising investments in 5G infrastructure, renewable energy systems, and data centres. Local manufacturers are working to upgrade product design to comply with increased energy ratings and reduced space for the appliances.
| Country | CAGR (2025 to 2035) |
|---|---|
| South Korea | 3.8% |
| By Type | Market Share (2025) |
|---|---|
| AC/DC | 59.1% |
AC/DC switching power supplies offer an advantage over others in the SMPS market, as they allow the conversion of alternating current (AC) from the main supply into direct current (DC), which is needed by most electronic devices to function.
These power supplies have gained prominence in a multitude of end-user industries, such as industrial automation, consumer electronics, communication infrastructure, and medical equipment. Due to their great efficiency, small footprint, and capacity to offer a steady output voltage under variable input conditions, AC/DC converters are preferred by manufacturers and system integrators.
Benefits of AC/DC SMPS units include less energy waste, superior heat dissipation, and improved power density. The demand for these systems should grow as more industries implement energy-efficient technologies. They embed smart features like active PFC, thermal shutdown, and overload protection to further enhance system reliability along with compliance to global energy standards like Energy Star and IEC standards.
AC/DC switching power supplies become an essential component of power consumption in the era of increasing power consumption and upgrading electronic components to the micron scale. Their versatility means they can power everything from hand-held chargers and LED lighting systems to medical monitors and industrial sensors.
| By Application | Market Share (2025) |
|---|---|
| Consumer Electronics | 51.6% |
By application segment consumer electronics is the biggest application segment for the SMPS market due to the increasing demand for portable devices, smart appliances, personal computers, televisions, and gaming consoles. Industry manufacturers have learned to trust switching power supplies for consistent, lean, clean power to such devices while reducing thermal emissions and electromagnetic noise.
Consumer electronics is characterized by increasing levels of miniaturization and performance, forcing manufacturers to design power supplies with small footprints, advanced thermal performance and a wide input voltage range. SMPS technology enables such devices to deliver impressive performance levels across a wide range of supplying voltages and current flows, ensuring global suitability across varying power grid systems.
It has programmable output, standby, and conforms to strict regulatory standards (RoHS, FCC CC). SMPS technology has also facilitated wireless charging and fast-charging capabilities in smartphones and tablets, which has also helped to increase their market share.
The global switching mode power supply (SMPS) market is set to grow appreciably on the basis of increased uptake of energy-efficient, space-saving power conversion systems across the telecommunications interoperable global market, industrial automation, and consumer electronics manufacturing.
There is a growing demand for energy-efficient and space-saving solutions across industries, and manufacturers are developing high-density, low-noise SMPS units that provide reliable power delivery with minimal energy loss.
Market Share Analysis by Company
| Company Name | Estimated Market Share (%) |
|---|---|
| Artesyn Embedded Power | 15-19% |
| BENNING Elektrotechnik und Elektronik GmbH | 12-15% |
| Bicker Elektronik GmbH | 10-13% |
| Other Companies | 53-63% |
| Company Name | Key Offerings/Activities |
|---|---|
| Artesyn Embedded Power | In 2024, launched ultra-compact, high-efficiency SMPS units for 5G infrastructure and industrial control systems. |
| BENNING Elektrotechnik und Elektronik GmbH | In 2025, expanded its modular SMPS portfolio with redundant configurations for mission-critical applications. |
| Bicker Elektronik GmbH | In 2024, introduced finless and medically certified SMPS units for healthcare and automation markets. |
| Allis Electric Co., Ltd | In 2025, strengthened its footprint in Asia-Pacific with industrial-grade SMPS systems for telecom networks. |
Key Company Insights
Artesyn Embedded Power (15-19%)
Artesyn leads with high-performance SMPS solutions tailored for data centres and telecom infrastructure, focusing on power density and operational stability.
BENNING Elektrotechnik und Elektronik GmbH (12-15%)
BENNING leverages its European stronghold to supply rugged, scalable SMPS products for railways, medical, and industrial automation sectors.
Bicker Elektronik GmbH (10-13%)
Bicker focuses on reliable, low-noise power supplies that meet stringent regulatory certifications, especially in medical and embedded systems.
Allis Electric Co., Ltd
Allis Electric drives regional expansion with cost-effective, long-lifecycle SMPS models that comply with global safety and efficiency standards.
Other Key Players (53-63% Combined)
Several players contribute to market diversity by targeting niche applications and emphasizing design flexibility and price-performance balance:
The overall market size for the Switching Mode Power Supply Market was USD 28,012.7 Million in 2025.
The Switching Mode Power Supply Market is expected to reach USD 40,284.9 Million in 2035.
The demand is driven by rising adoption of energy-efficient power supplies, increasing use in consumer electronics and industrial automation, growing demand for compact and lightweight power solutions, and advancements in semiconductor technologies.
The top 5 countries driving market growth are USA, UK, Europe, Japan and South Korea.
The consumer electronics segment is expected to command a significant share over the assessment period.
Catenary Infrastructure Inspection Market Insights - Demand & Forecast 2025 to 2035
Category Management Software Market Analysis - Trends & Forecast 2025 to 2035
DC Power Systems Market Trends - Growth, Demand & Forecast 2025 to 2035
Residential VoIP Services Market Insights – Trends & Forecast 2025 to 2035
Border Security Technologies Market Growth - Trends & Forecast 2025 to 2035
ATM Outsourcing Services Market Analysis by Service Type, ATM Deployment, and Region - Growth, Trends, and Forecast from 2025 to 2035
Switching Mode Power Supply Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
