Power Electronics Market Worth 51.01 Billion USD by 2023

PUNE, India, June 4, 2018 /PRNewswire/ --

According to the new market research report on the "Power Electronics Market by Material, Device Type (Discrete, Module, and IC), Application, Vertical (ICT, Consumer Electronics, Energy and Power, Industrial, Automotive, and Aerospace & Defense), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated to grow from USD 39.03 Billion in 2018 to USD 51.01 Billion by 2023, at a CAGR of 5.5% between 2018 and 2023.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 71 market data Tables and 34 Figures spread through 129 Pages and in-depth TOC on "Power Electronics Market - Global Forecast to 2023"

https://www.marketsandmarkets.com/Market-Reports/power-electronics-market-204729766.html

Early buyers will receive 10% customization on this report

Growing demand for energy-efficient battery-power portable devices and upgrade of power infrastructure and focus toward the use of renewable power sources are some of the driving factors for the growth of the market.

ICs expected to hold a major share of the power electronics market during the forecast period 

Power ICs are suitable for high-frequency range, high power amplification, and microwave radiation applications. Currently, the power ICs market for industrial, ICT, and aerospace & defense verticals is fueled by various high-power and high-frequency applications such as RF, high-frequency wireless communication, RADAR, satellite communication, electronic warfare, radio communication, and microwave radiation fields. Moreover, the increasing demand for ASICs and PMICs for reducing power consumption propels the growth of the market.

Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=204729766

Market for transportation application to hold a major share of the power electronics market between 2018 and 2023 

The growth of the market is attributed to the growing use of electronic devices in the automotive vertical for charging stations, car safety, authentication, mobile security, and others. Moreover, large-scale production of HEVs and EVs and the rising demand for electric vehicle charging stations are expected to make transportation the largest revenue sector for the power electronics industry in the near future. Moreover, governments' mandate to develop environmentally friendly vehicles is expected to create opportunities for the power electronics market.

Automotive vertical expected to hold major share of the power electronics market between 2018 and 2023 

Power electronics play a vital role in the automotive segment as they help optimize the use of electrical energy. Increasing concerns over environmental pollution and sustainable growth are boosting the growth of the market for hybrid electric vehicles and high-end automobiles. Power electronic components, including MOSFETs and IGBTs, are used as a power electronic switch in vehicles to increase the fuel efficiency of the vehicle.

APAC expected to hold major share of the power electronics market between 2018 and 2023 

APAC has been the fastest-growing region in terms of power electronic products and solutions compared to other regions. The growth is attributed to the presence of large number of automotive and consumer electronics manufacturers in APAC and growing demand for power electronic devices in automotive and consumer applications. Moreover, the growing demand of industrial and energy & power verticals for power electronic devices helps the market to grow further in the region.

Infineon Technologies (Germany), Texas Instruments (US), On Semiconductor (US), STMicroelectronics(Switzerland), Mitsubishi Electric (Japan), Fuji Electric (Japan), Renesas Electronics (Japan), Toshiba (Japan), NXP Semiconductors (The Netherland), Vishay Intertechnology (US), Maxim Integrated Products (US), SEMIKRON (Germany), ABB (Switzerland), Hitachi (Japan), Analog Devices (US), ROHM Semiconductor (Japan), Microsemi (US), Littelfuse (US), Microchip Technology (US), and Danfoss (Denmark) are some of the major players in the power electronics market.

Know more about the Power Electronics Market: 

https://www.marketsandmarkets.com/Market-Reports/power-electronics-market-204729766.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com  

Visit Our Blog: http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors 
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets

SOURCE MarketsandMarkets