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An input filter is necessary for a matrix converter (MC) system to improve the input current quality with low harmonic components, as well as to reduce the input voltage distortion supplied to the MC. However, the input filter's characteristics make the input power factor (IPF) obtained at unity only in the presence of high output loads, and the IPF degrades significantly under light-load conditions. In this paper, we propose a new direct space vector modulation (DSVM) method to achieve the required displacement angle between the input voltage and input current of the MC. A new switching strategy is introduced based on the maximum compensated angle. Then, power factor compensation algorithms using the new DSVM method to achieve the maximum IPF are presented, in which compensation algorithm I is based on using the input filter and power supply parameters to estimate the optimal compensated angle. Compensation algorithm II is subsequently proposed using a proportional-integral controller to overcome drawbacks presented in compensation algorithm I. Simulation and experimental results are shown to validate the effectiveness of the proposed compensation algorithms.