The global switching power supply market reached $38 billion in 2024

As the "heart" of electronic devices, switching power supplies are becoming increasingly important in the current climate, driven by the "dual carbon" goals and the convergence of technological waves such as AI, 5G, and new energy. According to data from Yole Development, the global switching power supply market reached $38 billion in 2024 and is projected to grow to $60 billion from 2025 to 2030, at a CAGR of 7.2%. From an industry chain perspective, the upstream consists of core components such as semiconductors, the midstream is power supply design and manufacturing, and the downstream comprises end-user sectors such as communications, industry, and new energy.