Published Date: 22-Dec-2021
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According to a new report Global Power Electronics Market, published by KBV research, The Global Power Electronics Market size is expected to reach $46.81 billion by 2027, rising at a market growth of 4.4% CAGR during the forecast period.
Based on device type, Low power ICs provide improved efficiency and a concise form factor required for compact devices like hearable, IoT devices, wearable, sensors, and a broad variety of portable devices like mobile phones and many others.
Based on material, at present, silicon is witnessing high adoption as the substrate of choice for several semiconductor wafers. In addition, Silicon-based power electronics are well-suited for low-power applications and devices, which do not need a broad bandgap. The growth of this segment would witness a surge since silicon is a majorly accessible material utilized to develop a wide range of power electronics.
Based on application, the rise in the adoption of power electronics in home appliances would support the growth of the segment. OEMs based in China and South Korea like Xiaomi, Oppo, Vivo, Samsung, Meizu, and Huawei are majorly using GaN-based power electronics for high power inbox chargers of the smartphones along with accessory fast chargers.
The growing requirement for power generation and government initiatives in numerous countries to encourage renewable energy infrastructure are estimated to augment the growth of the regional market. In addition, the high population of emerging nations like India and China is resulting in the high implementation of communication infrastructure, which would accelerate the growth of the regional market.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of NXP Semiconductors N.V., Infineon Technologies AG, Texas Instruments, Inc., Toshiba Corporation, Renesas Electronics Corporation, ON Semiconductor Corporation, STMicroelectronics N.V., Mitsubishi Electric Corporation, Fuji Electric Co. Ltd. (Furukawa Group), and ABB Group.
By Device type
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