Power Electronics Market
size is bifurcated on the basis of material, device type, vertical and
geography. Based on material, the market is classified as Silicon (Si), Silicon
Carbide (SiC), Gallium Nitride (GaN), Sapphire and others. Among the materials,
Silicon segment is projected to account a major share in the Power Electronics
market size owing to the applicability of silicon in several power electronics
devices and products. On the basis of device type, the market is classified as
discrete, module and IC.
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Global power electronics
market is expected to rise at a positive CAGR in the forecast period. Power
electronics is the use of solid-state electronics to the control and conversion
of electric power from the source to the load in an efficient and appropriate
mode. The factors propelling the growth of power electronics market includes
growing demand for energy-efficient battery-powered portable devices,
increasing trend of energy harvesting technologies, improvement of power
infrastructure, and the rising emphasis on using renewable power sources.
In addition, increase in
adoption of electronic cars is significantly fueling the growth of the market
size. Also, sectors such as ICT, defense, telecommunications, etc. are driving
the growth of the market size. On the other hand, factors that hamper the growth
of the market size such as manufacturing cost of power electronics is expensive
and time consuming.
Among the device type, IC
segment is estimated to account a large share of the Power Electronics market
size. The key factors that fuel the growth of this segment are its rising
application in RADAR, satellite communication, microwave radiation, high
frequency wireless communication, etc. On the basis of vertical, the global
Power Electronics market research report is classified as ICT, Consumer Electronics,
Power, Industrial, Automotive and Aerospace &Defense. The ICT segment is
further sub classified as Switching Systems, Wireless, Satellite Communication,
Radar, Radio Frequency (RF) and others. The other segment includes Signal
Amplifiers, Wired Communication, and Photovoltaic.
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