Power Electronics Market Expected to Touch 43 Billion by 2023 | Top Companies: Texas Instruments

The global power electronics market garners exponential traction. The market growth attributes to the increasing adoption of power electronics in electric vehicles and the growing demand for power management devices. Besides, several advantages of power electronics such as simplified circuits and optimum forward and reverse blocking capabilities create huge market demand. Moreover, compact power electronics designs suitable for high power densities applications escalate market growth.

According to Market Research Future (MRFR), the power electronics market valuation is poised to reach approximately USD 43 BN by 2023, registering 3% CAGR during the assessment period (2018–2023). Over the last couple of years, power electronics technology has evolved dramatically, becoming indispensable across the industries. Power electronics is one of the fastest-growing technologies used across major industries such as automotive, aerospace, healthcare, and media.

Additionally, the increasing deployment of smart grid applications and demand for implementation of low carbon emission power systems act as major tailwinds for the growth of the market. Furthermore, the growing focus on the use of renewable power resources boosts the power electronics market growth. Furthermore, the growing demand for enhancement of power infrastructure positively impacts the growth of the power electronics market.

Global Power Electronics Market – Competitive Analysis

Highly competitive, the power electronics market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain prevailing key trends for the leading players as these strategies support their growth and expansion plans. They are committed to deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and products.

Market Players

Players leading the power electronics market include Texas Instruments, Inc. (US), Infineon Technologies AG (Germany), ON Semiconductor Corp. (US), Maxim Integrated Products, Inc. (US), STMicroelectronics NV (Switzerland), Fuji Electric Co., Ltd. (Japan), Qualcomm, Inc. (US), NXP Semiconductors NV (The Netherland), Vishay Intertechnology, Inc. (US), Mitsubishi Electric Corp. (Japan), and Renesas Electronics Corp. (Japan), among others.

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Global Power Electronics Market – Segmentation

By Material : Silicon, Silicon Carbide, Gallium Nitride, Sapphire, and others.

By Device Type : Power Discrete, Power Module, Power IC, and others.

By Vertical : IT & Telecommunication, Power, Consumer Electronics, Automotive, Aerospace & Defense, and others.

By Regions : Asia Pacific, Americas, Europe, and the Rest-of-the-World.

Also Avail Free Sample@ Power Electronics Market 2021 Size, Share, Growth, COVID-19 Impact Analysis, Business Opportunities, Demand by Major Companies: Texas Instruments, Infineon Technologies AG

Global Power Electronics Market – Regional Analysis

The Asia Pacific region dominates the global power electronics market. The largest market share attributes to the rising technological advances and focuses on using renewable power sources across the industry verticals. Besides, the availability of potent technologies at affordable costs is a key driving force behind the regional market growth.

North America accounts for the second-largest share in the global power electronics market. The region is a hub for advanced semiconductors technologies and their early adoption of innovative applications. Also, the huge demand, particularly from the automotive and consumer electronics industry verticals, substantiates the growth of the regional market.

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TABLE OF CONTENTS:

1. Market Introduction

2. Research Methodology

3. Market Dynamics

4. Executive Summary

5. Market Factor Analysis

6. Power Electronics Market, By Segments

7. Competitive Analysis

Continued…

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