# Global power supply market and technology evolution > Live situation record from CLSTR: https://clstr.news/situations/global-power-supply-market-and-technology-evolution > Updated: 2026-08-12T04:21:33.000Z. Sources: 5. Developments: 2. The global power supply market is experiencing significant growth, fueled by the expansion of data centers, renewable energy, electric vehicles, and industrial automation. Market projections suggest the power supply units sector could reach $52.19 billion by 2031, with broader market estimates potentially hitting $82.1 billion by 2036. Technological advancements are central to this evolution. In Australia, the demand for advanced low-voltage power distribution is rising due to electrification, leading to the introduction of modular platforms like the VX25 Ri4Power system to manage complex energy infrastructure. On a research level, the integration of Gallium Nitride (GaN) and Silicon Carbide (SiC) is enhancing efficiency and power density. A collaborative research team involving institutions such as the University of Science and Technology of China and Xidian University has reported a breakthrough in bidirectional switching. By developing a monolithic bidirectional switch, researchers aim to overcome scaling and complexity issues in traditional configurations, facilitating the use of GaN devices in medium-voltage AC applications for digital infrastructure and electrified transport. ## Timeline ### 2026-08-12: Power electronics advancements drive global market growth Advancements in power electronics, including a breakthrough in monolithic bidirectional switches by a multi-university research team, are driving growth in the global power supply market. 2 sources. https://clstr.news/cluster/power-electronics-advancements-drive-global-market-growth ### 2026-08-10: Power supply and switchgear markets expand amid electrification Driven by electrification and renewable energy, the power supply and switchgear markets are expanding, with modular designs and advanced materials like GaN and SiC leading technological shifts. 3 sources. https://clstr.news/cluster/power-supply-and-switchgear-markets-expand-amid-electrification --- Cite as: Global power supply market and technology evolution. CLSTR, https://clstr.news/situations/global-power-supply-market-and-technology-evolution