GW Instek's GPM-8213 wattmeter for single-phase AC power measurements

Growth forecast for the power analyzer market until 2024

  • According to a study proposed by ResearchAndMarkets, the global market for electrical power analyzers is expected to grow from $430 million in 2019 to $527 million in 2024, recording an CAGR of 4.2% during the forecast period.

This study is titled “”Power Device Analyzer Market by Type (Both AC and DC; AC), Current (Above 1000 A, Below 1000 A), End-User (Automotive, Energy, Wireless Communication, Consumer Electronics, and Others), and Region – Global Forecast to 2024”.

Growth drivers in the electric power analyzer market are due to the increasing adoption of energy-efficient, low-power devices in the consumer and healthcare sectors, as well as investment in electric vehicles.

North America is currently the fastest growing market for electric power analyzers, followed by Asia-Pacific and Europe.