Semiconductor and Electronic Survey

By 2026, The   Power Electronics Market   is anticipated to rise from USD 37.4 billion in 2021 to USD 46.3 billion, expanding at a CAGR of 4.4 percent. The main market drivers for power electronics are anticipated to be the rising usage of power electronics in consumer products, the rapid development of EVs, and increased deployment of renewable energy sources. Furthermore, it is anticipated that increased production of wide bandgap semiconductors would present potential for market expansion over the long run. The Power Electronics Market is a developed industry with a crowded field of competitors. New product releases and deals are two major tactics used by leading players to expand their presence in the market, grow their market share, and improve their product portfolios. For instance, in July 2020, STMicroelectronics (Switzerland) introduced 26 new Schottky diodes with voltage ratings ranging from 25 to 200V and current ratings ranging from 1 to 5A. These devices were housed in low

The   Power Electronics Market   is projected to grow from USD 37.4 billion in 2021 to USD 46.3 billion by 2026; it is expected to grow at a CAGR of 4.4% from 2021 to 2026. Increased deployment of renewable power sources, the rapid development of EVs, and increased use of power electronics in consumer devices are expected to be the leading market drivers for power electronics. Moreover, the rise in the manufacturing of wide bandgap semiconductors is expected to provide long-term opportunities for market growth. The Power Electronics Market is a matured market and is competitive among the players within the market. Key strategies adopted by top players to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and deals. For instance, In July 2020, STMicroelectronics (Switzerland) launched 26 new Schottky diodes in low-profile SMA and SMB Flat packages, covering voltage ratings from 25 to 200V and current

The   Power Electronics Market   is projected to grow from USD 37.4 billion in 2021 to USD 46.3 billion by 2026; it is expected to grow at a CAGR of 4.4% during the forecast period. Owing to COVID-19, the power electronics market faced some headwinds for 2020–2021. The use of SiC and GaN has resulted in improvements in the existing semiconductor technologies, such as MOSFETs and IGBTs. Power electronics-based power converters continue to be used in renewable energy systems, which mainly include wind and solar energy systems. Power IC segment to account for the largest share of the Power Electronics Market in 2021 Low power ICs offer high-efficiency and a compact form factor needed for compact applications such as wearables, hearables, sensors, IoT devices, and a wide range of portable devices, such as mobile phones and other portable electronics. Power ICs are also used for DC-to-DC conversion, battery charging, and voltage scaling that have several uses across various industries. Henc