Worldwide Automotive Power Electronics Market Growth to 2023: Top Manufacturers are by Renesas Electronics Corporation, Abb Ltd, Microsemi Corporation, Freescale Semiconductor, Inc., Taiwan Semiconductors Manufacturing Company Limited (Tsmc), Texas Instru

Market Analysis:

Developing Nations to Show prominent Growth
North America and Europe being technologically advanced nation have large share in the market. Growing demand for passenger and light commercial vehicles from developing economies such as China, India and the Latin American countries (Brazil and Mexico) will help to drive the market growth in the forecast period.

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Advancements in technology in the form of safety and driver assistance systems, infotainment, powertrain advancements and several others, due to the never ending R&D in the automotive and power electronics sector, make power electronics one of the prominent segments in the current automotive market scenario. Integration of advanced driver assistance, safety and convenience systems in almost all automotive vehicles will be the major factor boosting the demand for automotive power electronics. In addition, the increase in sale of electric and hybrid vehicles will considerably help the market to grow over the forecast period.

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Market Segments:
Automotive Power Electronics Market is segmented by:
1. Device Type: Power Ic, Power Modules, Power Discrete, Others
2. Application Type: Body Electronics, Powertrain, Safety And Convenience, Others
3. Vehicle Type: Ice, Hybrid Vehicles, Pure Electric Vehicles, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Switched-mode power supplies (SMPS) is one such advancement in power electronics which helps to efficiently handle the high loads of a powertrain. Global economic uncertainty and a declining growth rate in production will pose a hindrance to the automotive electronics market.

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