Switch Mode Power Supply Market Size, Share, and Industry Analysis By Type (AC to DC, DC to DC, and Others), By End User (Consumer Electronics, Industrial, Communication, Data Centers, and Others), and Regional Forecast, 2026-2034

The global switch mode power supply market size was valued at USD 3.1 billion in 2025. The market is projected to grow from USD 3.24 billion in 2026 to USD 4.71 billion by 2034, exhibiting a CAGR of 4.78% during the forecast period.

The global switch mode power supply market is expanding with the growing demand for consumer electronics and the expansion of telecommunication infrastructure. A Switch Mode Power Supply (SMPS) is an electronic power supply that includes a switching regulator for converting electrical power efficiently. It is commonly used to convert one type of electrical power, such as AC or DC, to another, providing the optimum voltage and current needed by the load.

• In 2024, two American companies allocated over ~USD 800 million for energy and telecommunications infrastructure projects in the Philippines. This includes KKR's investment in Pinnacle Towers, the country's largest independent telecom tower operator, supporting the Marcos administration's goal to boost digital connectivity nationwide.

Switch Mode Power Supply Market Driver

Huge Demand for Consumer Electronics to Propel the Market Growth

The growing demand for consumer electronics and the expansion in telecommunication infrastructure are the primary factors leading the market growth.

• For instance, the rising adoption of smart devices in residential and commercial sectors is also a significant factor driving power cord assembly demand. According to the Consumer Technology Association projection, retail revenues for the U.S. consumer technology industry might grow by around 2.8% in 2024 to ~USD 512 billion.

Switch Mode Power Supply Market Restraint

Complex Design of the Switch Mode Power Supply Imposes a Challenge for Market Expansion

Designing a Switch Mode Power Supply (SMPS) involves balancing efficiency, electromagnetic compatibility, and component selection. Thus, minimizing energy losses and managing heat, reducing electromagnetic interference, and selecting suitable components for voltage, current, and frequency make the product complex as compared to linear power supply, resulting in a slowdown in the expansion of the market.

Switch Mode Power Supply Market Opportunity

Expansion of 5G Network Infrastructures to Provide Opportunistic Growth in the Market

Switching mode power supplies (SMPS) are significant for 5G networks as they are the core of the communication system and their dependability determines the reliability of the entire system. The wireless telecommunications sector observed growth and innovation driven by the unstoppable growth of 5G technology. In 2023, the use of 5G connections accelerated, reaching around 1.76 billion worldwide by the inclusion of 700 million, as per 5G Americas. (5G Americas is an industry trade organization comprised of major manufacturers and telecommunications service providers.)

Segmentation

Key Insights

The report covers the following key insights:

• Key Emerging Trends – For Major Countries
• Latest Technological Advancement
• Insight on Regulatory Landscape
• Porters Five Forces Analysis
• Impact of COVID-19 on the market 

Analysis by Type

Based on type, the market is divided into AC to DC, DC to DC, and others.

The AC to DC segment dominates the switch mode power supply market due to the conversion of mains power (AC) into usable DC power further used in most electronic devices and equipment. The increasing demand for consumer electronics, industrial automation, and telecommunications infrastructure is propelling the demand for AC to DC converters.

Analysis by End Users

Based on end users, the market is fragmented into consumer electronics, industrial, communication, data centers, and others.

The consumer electronics segment is the leads the market owing to its growing adoption among individuals across the globe. The enhanced camera capabilities, including higher resolutions and improved AI-driven features, in smartphones, DSLRs, and other electronics also play a key role in attracting consumers, especially the youth, further necessitating the demand for the switch mode power supply.

Regional Analysis

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Based on region, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific holds a major share of the market owing to the presence of a large population utilizing electronic gadgets such as smartphones, laptops, and others. Additionally, the expansion of commercial sectors, including corporate offices, educational institutions, and others, is driving the growth of the market.

North America is the second leading region, largely driven by its advanced technology sector, high demand for consumer electronics, and significant industrial applications. Substantial investments in data centers and telecommunications infrastructure support the region’s strong market presence.

Europe also holds a notable share in the market due to advancements in technology, regulatory requirements for energy efficiency, and a focus on sustainable practices. The region's commitment to innovative technologies and environmental responsibility supports the continued growth and development of the SMPS market.

Key Players Covered

The global switch mode power supply market is fragmented, with the presence of a large number of group and standalone providers.

The report includes the profiles of the following key players:

• XP Power Limited (Singapore)
• TDK Corporation (Japan)
• Allis Electric Co., Ltd (Taiwan)
• Delta Electronics (Taiwan)
• LITE-ON Technology Corporation (Taiwan)
• Flextronics International Ltd (Singapore)
• Absopulse Electronics (Canada)
• BLOCK Transformatoren-Elektronik GmbH (Germany)
• B&K Precision Corporation (U.S.)

Key Industry Developments

• November 2023 - Cambridge GaN Devices (CGD) partnered with Chicony Power Technology from Taiwan and Cambridge University Technical Services (CUTS) from the U.K. to develop advanced, high power-density adapters and data center power products using GaN technology. The project, titled ‘Innovative Low Power and High Power SMPS with Advanced GaN Solutions,’ will focus on creating cutting-edge switch mode power supplies.
• January 2021 - AEG Power Solutions introduced the AC7000 N1 series, a new generation of its industrial switch-mode power supply rectifier. This new model replaces the older AC7000 and AC7000CAN series, continuing the legacy of reliable power supplies for high-output applications in industries such as power generation, nuclear, oil & gas, petrochemical, and transportation.