According to a new market research report “Power Electronics Market by Substrate Wafer Technology (GaN, SiC, and Others), Devices (Power IC, Power Module & Power Discrete), Applications, and Geography - Analysis & Forecast to 2014 - 2020”, is expected to boom in the near future. The power electronics market by device is estimated to grow at a CAGR of 7.74% from 2014- 2020.The report also includes an in-depth analysis of the applications and geography.
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Power electronics is considered as one of the most vibrant sectors owing to its presence, usage, and overlap with many other industry verticals. It is the extension of solid-state electronics, away of treating communications and data into the business of efficient power handling, from milliwatts to gigawatts. It makes the mobile phone battery last longer; it makes hybrid cars feasible; and it helps make electrical generation and distribution possible from sources ranging from a solar cell on your roof to a nuclear reactor.
Power electronics is considered as one of the most vibrant sector owing to its presence, usage, and overlap with many other industry verticals. There is an extremely high surge in the market for power electronics devices; and the applications in which these devices can be employed. The credit for power electronics becoming such a vast industry goes to the continuous advancements in the technology. The companies invest most of their revenues in R&D so as to make the concerned improvements in their technology. Also, the supply chain in this industry is a major supporting factor that has helped the power electronics industry to reach new heights. Another important role of power electronics, which is getting a strong emphasis recently, is the associated energy saving. Many companies are taking initiatives to intensify their R&D practices, to save energy with the help of modern power electronics devices and systems.
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The power electronics market is a very dynamic market and entails a great potential across many industry verticals. The advancements in technology due to the never ending R&D in this sector, makes it one of the prominent segments in the current industrial scenario. The power electronics devices have been experiencing continuously developmentsright since theirinception. The substrate technology has a major role to play in this sector due to the cost effective matrix, and results intoa longer life cycle of devices and systems, along with greater reliability. The highlighting features of the power electronics devices include high efficiency, better properties to withstand rough environmental conditions, and alonger life that is best suited for the industrial, power,aerospace, and defense applications.
Major players discussed in the power electronics market report include Texas Instruments Inc. (U.S), Vishay Intertechnology Inc. (U.S), Infineon Technologies AG (Germany), NXP Semiconductors (U.S), Fairchild Semiconductor (U.S), Microsemi Corp. (U.S), Toshiba Corp. (Japan), Hitachi Co., Ltd (Japan), and Mitsubishi Electric Corp. (Japan).
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