Power Electronics Market is Expected to Record a Substantial Market Valuation of Up to USD 43 Billion by 2023 | Key Market Players are Infineon Technologies AG, Texas Instruments, Inc., STMicroelectronics N.V., and Fuji Electric Co.

Power Electronics Market Research Report- Forecast till 2023

Market Highlights

Power electronic devices are used to convert energy from one type to another, such as battery chargers, photovoltaic inverters or dischargers. Power electronics allow solar grid deployment and grid modernisation techniques, as 80 percent of energy could pass through power electronics devices by 2030. Innovations in power electronics are motivated with the need to reduce costs and increase the performance and lifespan. Additionally, these systems need capabilities through integrated control and performance tuning to enhance grid durability, efficiency, and protection.

Power electronics is a technology that manages the transfer and control of electricity with electronic equipment in high-efficiency switching modes for a variety of applications. These include responsive and dynamic compensators, electrochemical processes, high-voltage dc systems, electronic welding, high-frequency heating, versatile ac distribution systems, solar and fuel cell power transfer, and motor drives as dc and ac power supplies, heating and lighting control, power line volt – ampere. We may describe the 21st century as the golden period of power electronics technologies following the technological evolution that stabilized with significant developments during the latter part of the past century.

During the forecast period 2017-2023, the global power electronics market is expected to expand at a CAGR of about 3 per cent. Because of its important position in energy management, bulk utility energy storage, renewable energy systems, and hybrid and electric vehicles, as well as its conventional positions in systems integration and high-efficiency energy systems, power electronics is leading a new kind of industrial revolution. It has developed as the pioneer of high-tech power technology. It is obvious from trends that power electronics will play a major role in addressing our, very critical, global warming problems.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1069

Segmentation:

The worldwide market for power electronics is fragmented by the type, material, and vertical unit. The global market has been segmented, depending on the material, into Silicon Carbide, Sapphire, Silicon, Gallium Nitride, and several others. The global market for power electronics has been segmented by device type into power module, discrete power, and power IC. While the market is segmented into information technology and telecommunications, power, consumer electronics, automotive, and aviation and defense on the basis of the vertical. Due to the growing scope of silicone in different power power electronics devices and goods, the silicon material sub-segment is set to hold the largest share in the power electronics market during the forecast period. Owing to the cost-effective functionality and growing demand for power-efficient battery-powered devices, the need for power electronics technological solutions is also rising.

Regional Overview

The global demand for power electronics has been explored in the report. The study covers key regional markets of North America, Asia Pacific, Europe, and several other parts of the world. Regional markets in Asia Pacific are expected to grow at a higher rate and as a whole, the region will hold the largest share of the power electronics market. The growth is due to technological developments and a greater emphasis on renewable energy across many verticals. The global demand for power electronics is projected to report a large market valuation of up to US$43 billion by 2023. During the forecast period, the global power electronics market is expected to record a modest 3 per cent CAGR.

Industry News

Researchers at MIT state that any system sending out Wi-Fi signals often emit terahertz waves. An electromagnetic wave with an intensity around microwaves and infrared light is a terahertz wave, or T-Ray. T-Rays are created by almost anything which records a temperature, such as the human body and items surrounding, attempting to make them widespread in everyday life.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/power-electronics-market-1069

Global Power Electronics Market Research Report: by Material (Silicon, Silicon Carbide, Gallium Nitride, Sapphire), by Device Type (Power Discrete, Power Module, Power IC), and by Vertical (IT & Telecommunication, Power, Automotive) – Forecast till 2023

Office No. 528, Amanora Chambers

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

This release was published on openPR.