Why Silicon, SiC, and GaN are Shaping the Future of Power Electronics Market
The global Power Electronics Market Size, estimated at USD 46.2 billion in 2023 and expected to grow at a compound annual growth rate (CAGR) of 5.7% to USD 61.0 billion by 2028, is covered in detail in the report "Power Electronics Market Size by Device Type (Power Discrete, Power Module, Power IC), Material (Si, SiC, GaN), Voltage (Low, Medium, High), Vertical (ICT, Consumer Electronics, Industrial, Automotive, Aerospace) and Geography - Global Forecast to 2028." The power electronics industry is expected to increase significantly in the next years due to advancements in semiconductor materials like silicon (Si), silicon carbide (SiC), and gallium nitride (GaN). This is highlighted in the research. These components are necessary to improve power devices' performance and efficiency over a range of voltages. The growing demand in important sectors like consumer electronics, industrial applications, automotive, aerospace, and information and communications technology (I...