The Internet of Things has profoundly shaped our lives. It is also growing at a remarkable pace. According to technology trend analysts, 27 new IOT devices are connected every single second. There are currently around 30 billion IOT devices connected, which gives businesses a treasure trove of data to use and new features to offer their customers.
New forms of technology are driving the future of the Internet of Things. SMPS is one of the groundbreaking changes.
What Are SMPS?
An SMPS is a Switched Mode Power Supply, of which there are a wide range on offer at stores. There are numerous reasons to use an SMPS over conventional linear power supplies. Some of the biggest benefits are listed below.
Much Higher Efficiency Ratings
Unlike traditional power supplies, SMPS devices operate on a binary basis. They are always either fully turned on or fully turned off. This reduces energy loss due to dissipation.
There are multiple reasons this is good for organizations that rely on them. SMPS devices reduce energy costs. They also lower the carbon footprint, which is good for the environment.
Ability to Repurpose For Different Applications
One of the other major benefits of SMPS devices is that they can operate across a large spectrum of frequencies. This means that they can be used in conjunction with many different types of networks and products.
An SMPS is also smaller than linear power mode devices. It can be used in applications where compatibility is important.
SMPS devices have a very low failure rate. This is incredibly important for applications where uptime requirements are crucial, such as medical, transportation and other areas where safety is at risk.
How Fast Is The Market For SMPS Device is Growing?
Demand for SMPS devices is growing at a surprising pace. It is expected to be worth $1.8 billion within the next six years. It is growing at a rate of 4.3% every year.
As the market for SMPS devices grows, manufacturers are likely to be more innovative. They will probably continue to create even smaller devices. Although Moore’s law has finally started to come to an end, it is still clear that there is a shift toward smaller devices. This will continue with the evolution of SMPS.
This is going to lead to a number of interesting changes in the near future. As SMPS devices become even smaller, they will be able to be used for a number of different applications.
IOT devices have not been used in many nanotechnology applications yet. However, they will be more feasible in the future. Of course, technology will need to evolve quite a bit before these devices will be readily available for these types of applications. Yet, this is likely to happen within the next few years.
How is The Pandemic Changing The Market?
The COVID-19 pandemic has been a double-edged sword for SMPS manufacturers. On the one hand, it has caused a temporary bottleneck in supply chains. It has also reduced demand in certain industries that have been hit hardest by the crisis. On the other hand, some industries are more in need of these technological advances than ever before. A number of people are working from home by using software like Zoom. This has created a greater demand for reliable video conferencing technology. SMPS devices are helping shape this market.
Overall, the positive and negative impacts of the pandemic are canceling each other out. The market for SMPS devices will continue to grow.