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Power Electronic Testing Market worth $9.3 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 11, 2024 /PRNewswire/ — The global power electronics testing market was valued at USD 5.7 billion in 2024 and is projected to reach USD 9.3 billion by 2029; it is expected to register a CAGR of 10.2% during the forecast period according to a new report by MarketsandMarkets™. The growth of the power electronics testing market is fueled by multiple significant factors ranging from fast EV adoption to the increasing demand for renewable energy infrastructures using power electronics for conversion and grid adherence. Widespread adoption of semiconductors such as Silicon Carbide (SiC) and Gallium Nitride (GaN) in high-power applications prompts the necessity for innovative testing methods because of their increased voltage levels and frequencies. Industrial automation and smart grids enhance the demand for dependable and effective power electronics that must pass extensive testing for adherence to international safety measures.

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Browse in-depth TOC on “Power Electronic Market” 
180 – Tables
70 – Figures
250 – Pages

Power Electronic Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 5.7 billion

Estimated Value by 2029

$ 9.3 billion

Growth Rate

Poised to grow at a CAGR of 10.2%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Offering, Device Type, Vertical, and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Adhering to various global safety, efficiency, and quality standards can be complex and resource-intensive for manufacturers

Key Market Opportunities

Increase in reliance on high-efficiency power electronics for avionics and defense systems

Key Market Drivers

Surge in EV adoption increasing need for testing services

Testing services segment to account for the largest market share in the forecasted year.

The demand for testing services will dominate the power electronics testing sector due to the urgent requirement to guarantee safety and efficiency in complicated power electronics components. In this segment’s future predictions EMC testing is set to be the leading category because it plays a vital function in helping power electronics systems function smoothly without creating disturbances for neighboring devices such as in automotive and aerospace industries. An array of essential testing services includes electrical safety testing to guarantee protection from electrical threats radio frequency testing for wireless applications energy efficiency testing to comply with power conservation rules and multiple specialized test methods for different purposes. As electric vehicles and eco-friendly energy solutions become more prevalent businesses must achieve conformity with demanding global standards and regulations in multiple sectors.

Industrial vertical accounted for the second-largest market share of in the forecasted year.

The rising adoption of automation, robotics, and Industry 4.0 technologies is likely to spur the expansion of the industrial vertical. Testing is essential for power electronics which power and command sophisticated machinery and energy management systems in factories. This is for optimal reliability and efficiency in stressful environments. The growing attention towards energy-efficient systems and following norms in industrial fields increases the requirement for testing solutions. As production systems become more automated and smart testing needs for power electronics will increase further in industries.

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Europe is expected to hold the second-largest share of the power electronics testing market during the forecast period.

Europe will likely be the second-largest market for power electronics testing because of its emphasis on clean energy adoption and strict environmental laws. Germany and other European nations especially highlight clean energy efforts prompting intense testing of power electronics in energy storage and solar applications. The increasing EV market and the formation of charging networks across Europe act as significant contributors to market growth since power electronics components in EVs depend on stringent testing for safety and efficiency. commitment to carbon neutrality and stringent regulations for energy efficiency and environmental protection elevate the need for power electronics testing services. These factors together play a key role in Europe’s high position in the worldwide power electronics testing industry.

Key Players

The key companies that offer power electronics testing companies include SGS SA (Switzerland), Bureau Veritas (France), Intertek Group plc (UK), Advantest Corporation (Japan), Teradyne Inc., (US), DEKRA (Germany), TÜV SÜD (Germany), National Instruments Corp. (US), TÜV RHEINLAND (Germany), TÜV NORD Group (Germany), and UL LLC (US), Cohu, Inc. (US), Rohde & Schwarz (Germany), Keysight Technologies  (US), and Chroma ATE Inc. (Taiwan).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Testing, Inspection, and Certification Market Size, Share & Industry Growth Analysis Report by Service Type, Sourcing Type (In-house, Outsourced), Application (Consumer Goods & Retail, Agriculture & Food, Industrial & Manufacturing, Medical & Life Sciences) and Region – Global Forecast to 2029

Test and Measurement Equipment Market by Automated Test Equipment, Spectrum Analyzers, Oscilloscopes, BERT, Modular Instruments, NDT Equipment, Machine Vision Inspection Systems and Machine Condition Monitoring System – Global Forecast to 2029

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Singapore’s Sodion Energy Secures MWh Supply of US Developed Advanced Sodium-Ion Batteries from UNIGRID

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SINGAPORE, Jan. 13, 2025 /PRNewswire/ — Sodion Energy, a leading provider of sodium-ion batteries for e-mobility and integrated energy storage solutions in Southeast Asia, has secured a landmark agreement for an initial 10 MWh supply of advanced sodium-ion batteries developed by UNIGRID Inc., a California-based innovator in sodium-ion battery technology.

This collaboration strengthens Sodion Energy’s ability to address the region’s rising demand for affordable, eco-friendly, and high-performance battery solutions across mobility and energy storage sectors.

“Our collaboration with UNIGRID is a game-changer,” said Dr. CC Hang, Chairman of Sodion Energy. “These next-generation sodium-ion batteries will allow us to tackle key markets, starting with lead-acid battery replacements in e-mobility and extending into large-scale renewable energy projects and grid stabilization initiatives.”

Sodium-ion batteries offer distinct advantages, including cost-efficiency, enhanced safety, and the use of abundant raw materials, making them a sustainable choice for energy storage. With fast-charging capabilities and intrinsic non-flammability, they are exceptionally suited to Southeast Asia’s tropical climate and rapidly growing energy needs.

With a strategic focus on advanced battery technologies, Sodion Energy is poised to play a key role in driving Southeast Asia’s transition to cleaner, safer, and more sustainable energy solutions.

Website: https://sodione.com

Follow us on LinkedIn: Sodion Energy

About Sodion Energy

Headquartered in Singapore, Sodion Energy is an applications engineering leader driving the commercialization of Sodium-ion batteries across Southeast Asia. SE’s sodium-ion pack solutions are tailored to meet the diverse needs of industries such as mobility and energy storage, contributing to a more sustainable future.

View original content:https://www.prnewswire.com/apac/news-releases/singapores-sodion-energy-secures-mwh-supply-of-us-developed-advanced-sodium-ion-batteries-from-unigrid-302347661.html

SOURCE UNIGRID and Sodion Energy Pte. Ltd

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AirCheck Australia & New Zealand Renamed as RCS MEDIA MONITORS

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SYDNEY, Jan. 13, 2025 /PRNewswire/ — AirCheck, a leading provider of broadcast monitoring services in Australia and New Zealand is pleased to announce its renaming as RCS MEDIA MONITORS, effective immediately.

AirCheck monitors songs and commercials providing almost real time reporting tools for radio and television broadcasters, music media, record companies, advertising agencies and industry analysts.

This change reflects the company’s growth, expanded service offerings, and a strengthened focus on providing comprehensive media intelligence.

The new name, RCS MEDIA MONITORS, builds on the expertise of its parent company, RCS, to offer enhanced monitoring solutions. By integrating RCS’s global technology and resources, the company will provide clients with a broader range of tools for tracking and analysing media campaigns across a variety of platforms and markets.

“We’re excited to take this step forward,” said Philippe Generali, President and CEO of RCS Global. “The rebranding to RCS MEDIA MONITORS allows us to expand our reach and improve our services, giving clients access to deeper insights and a wider array of media monitoring tools. With RCS’s support, we can offer more robust data and solutions that cover not just broadcast, but also digital and emerging media channels.”

The name change signals the company’s commitment to evolving with the changing media landscape. With RCS MEDIA MONITORS, clients can expect the same reliable monitoring services they’ve trusted for over 20 years in Australia and 15 years in NZ.

www.rcsmediamonitors.com.au

About RCS MEDIA MONITORS

RCS MEDIA MONITORS (formerly AirCheck) is a leading provider of broadcast monitoring and media intelligence solutions in Australia, New Zealand and India. The company helps clients across industries optimise media strategies, measure performance, and gain insights from a wide range of traditional and digital media. RCS MEDIA MONITORS is part of RCS, a global leader in broadcast automation and media technology.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/aircheck-australia–new-zealand-renamed-as-rcs-media-monitors-302347810.html

SOURCE RCS MEDIA MONITORS

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iM Global Partner mourns the passing of Philippe Uzan

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PARIS, Jan. 13, 2025 /PRNewswire/ — It is with deep sadness that iM Global Partner (iMGP) announces the passing, one month ago, of our dear friend and colleague, Philippe Uzan.

 

 

Philippe’s exceptional career in asset management spanned more than 30 years and is marked by remarkable achievements in the organizations for which he worked and deep contributions to the industry as a whole. His passing is a tremendous loss to all who knew and worked with him.

Philippe joined iM Global Partner in February 2020 as Deputy CEO and CIO Global Asset Management, responsible for overseeing our financial strategies and products and designing value-added investment solutions for our clients across Europe and the United States.

His expertise spanned all asset classes, and he had a deep understanding of markets and their impact on investors and their investment needs. He was an eloquent man who contributed a number of papers and articles to the media, always with the intention of educating and making financial concepts more relatable. He has left an indelible mark on our organization and on the broader industry.

Prior to joining iM Global Partner, Philippe was latterly Chief Investment Officer at Edmond De Rothschild Asset Management, where he worked for 11 years and where he led the portfolio management teams, optimizing the synergies between analysis and portfolio management. He previously spent three years as Research and Global Asset Allocation Director, where he developed the portfolio management and research teams and modernized investment processes and the product range.

Philippe began his career as an Equity Derivatives Trader at Société Générale and held roles at AGF Asset Management (now part of Allianz Global Investors) and Natixis AM.

Throughout his career, Philippe’s outstanding intelligence, humility, and collaborative spirit earned him the respect and admiration of his peers.

Philippe Couvrecelle, Founder and CEO of iM Global Partner, expressed his heartfelt condolences: “It was with infinite sadness and pain that I learned of Philippe’s passing from a devastating illness. I had known Philippe closely for almost 20 years, as we worked together for Natixis, Edmond de Rothschild and iMGP. I pay immense tribute to his humanity, his sense of humor, his brilliant intelligence and his presence, which I will deeply miss. We had shared so much and still had so much to do together. In his memory, we will continue our path forward with strength, success and intensity, always preserving our values and our company culture to which he was so attached.

We will all miss Philippe enormously at iM Global Partner. He will be remembered not only for his professional achievements but also for his warmth, generosity, kindness and his unwavering dedication to his colleagues and community. Our thoughts are with his wife and three children, his family, friends and loved ones during this difficult time.”

CONTACT: media@imgp.com

 

 

SOURCE iM Global Partner

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