Pune, India, Aug. 19, 2021 (GLOBE NEWSWIRE) -- The global electronic load market is set to gain traction from the increasing usage of consumer electronics. Hence, various manufacturers are utilizing the ‘push’ strategy so that customers can purchase them easily from the market. As the sale of these electronics surged, the need to prevent data loss, overheating, and other accidents has also increased, thereby compelling companies to use these loads for testing these electronics. This information is given by Fortune Business Insights™ in a report, titled, “Electronic Load Market, 2021-2028.” As per the report, the market size stood at USD 2.93 billion in 2020. It is projected to grow from USD 3.11 billion in 2021 to USD 4.99 billion in 2028 at a CAGR of 7.0% in the forecast period during 2021-2028.
COVID-19 Pandemic: Shutdown of Businesses Globally May Obstruct Growth
The COVID-19 pandemic has taken a huge toll on the demand for electronic loads. Numerous companies have either cancelled or postponed investments in the electric and electronics industry. Nationwide lockdowns in most of the countries globally have also resulted in the temporary shutdown of businesses, excluding essential services. These factors are anticipated to hamper growth.
To get to know more about the short-term and long-term impact of COVID-19 on this Electronic Load Market,
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Segment-
Wireless Communications & Infrastructure Segment Held 37.6% Share in 2020
By applications, the global Electronic Load Market is segregated into aerospace, defense & government services, automotive, energy, wireless communications & infrastructure, and others. Out of these, the wireless communications & infrastructure segment earned 37.6% in terms of the electronic loads market share in 2020. This growth is attributable to the increasing usage of these loads in this application.
Report Coverage-
The Electronic Load Market research report of this industry delivers a brief analysis of pre-existing firms that can affect the outlook throughout the forecast period. Additionally, it delivers an authentic assessment by highlighting data on several aspects that may include growth drivers, opportunities, trends, and restraints. It also represents the market size from a global perspective by analyzing historical data and qualitative insights.
Drivers & Restraints-
Increasing Usage of Smartphones and Mobile Phones to Accelerate Growth
Nowadays several companies are investing huge sums in wireless communications and infrastructure to enhance the wireless and power supply testing. This would help them to provide an efficient and safe operation of electronic components. In developing nations, the high demand for mobile phones and smartphones is set to propel the electronic load market growth in the near future as these phones require batteries to operate smoothly. At the same time, aerospace, defense, and government services often use devices to wirelessly communicate from remote places. However, specific electronic loads are very expensive, which, in turn, may hamper their demand.
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Regional Insights-
Rising Awareness of Using Electric Vehicles to Aid Growth in North America
Geographically, North America procured USD 0.89 billion in terms of share in 2020. It is expected to remain at the forefront in the upcoming years because of the rising awareness of the benefits of utilizing eco-friendly electric vehicles. Asia Pacific, on the other hand, is set to be in the second position in the electronic loads industry owing to the increasing adoption of electronics and the surging electrification.
Competitive Landscape-
Key Players Focus on Launching Innovative Products to Intensify Competition
The Electronic Load Market contains a large number of companies that are presently investing huge sums in research and development activities. They are doing so to create novel products to cater to the high demand from customers. Below are the two significant industry developments:
- March 2021: Prof Rajagopal Veeramalla utilized a conductance algorithm to create a decoupled electronic load. It is capable of decoupling the reactive and active power. This further refines the machine lifecycle and prevents the de-rating of the generator.
- September 2020: Adaptive Power Systems Inc. (APS) unveiled its latest range of programmable, high-power DC Loads. These can be used in multiple DC test applications.
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Electronic Load Market Report Scope and segmentation:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 7.0% |
| 2028 Value Projection | USD 4.99 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 2.93 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 223 |
| Segments covered | Voltage; Current and Application |
| Growth Drivers | Increasing Usage of Smartphones and Mobile Phones to Accelerate Growth |
| Rising Awareness of Using Electric Vehicles to Aid Growth in North America | |
| Pitfalls & Challenges | High Capital Cost to Restrain Growth of the Electronic Load Industry |
A list of reputed manufacturers present in the global Electronic Load Market:
- Keysight Technologies (US)
- AMETEK (US)
- National Instruments (US)
- Chroma ATE (Taiwan)
- Teledyne Technologies (US)
- B&K Precision Corporation(US)
- Tektronix (US)
- Good Will Instrument Co., Ltd. (Taiwan)
- NFcorp (Japan)
- Kikusui Electronics Corporation (Japan)
- Höcherl & Hackl GmbH (Germany)
- Matsusada Precision (Japan)
- Itech Electronic Co. Ltd. (Taiwan)
- Chroma Systems Solutions, Inc. (Canada)
- Maynuo Electronic Co., Ltd (China)
- Ainuo Instrument Co., Ltd (China)
- Dahua Electronic (China)
- Array Electronic Co., Ltd (China)
- Hangzhou Weibo Technology Co., Ltd (China)
- Texas Instruments (US)
- FDK Corporation (Japan)
- TDK-Lambda Corporation (Japan)
- General Electric (US)
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TABLE OF CONTENT ELECTRONIC LOAD: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2021-2028
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Electronic Load Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Electronic Load Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Voltage
- Below 600V
- Above 600V
- Market Analysis, Insights and Forecast – By Current
- Alternating Current (AC)
- Direct Current (DC)
- Market Analysis, Insights and Forecast – By Application
- Aerospace, Defense & Government Services
- Automotive
- Energy
- Wireless Communications
- Others
- Electronic Load Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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