Global Power Semiconductor Market-Growth, Trends, and Forecast (2018-2023)

The power semiconductor market is expected to record a CAGR of over 3%, during the forecast period of 2018-2023. The report profiles the application of power semiconductors, in various industries.

The global power semiconductor market is gaining traction, due to the incorporation of its advanced technologies in consumer electronics, such as a smartphones, smartwatches, and IoT devices, to work as small electronic gadgets and facilitate easy access of technology. Further, the enhanced features of power electronics, such as power efficiency, lightweight, high speed, and enhanced portability are the other drivers that are expected to augment the growth of the power semiconductor market, over the forecast period. Apart from technological advantages, power semiconductors are trending, due to increasing consumer interest toward electric vehicles.

However, consumer demand exceeding the factory capacity and global shortage of silicon wafer, due to the presence of limited number of vendors, are anticipated to hinder the growth of the power semiconductor market, over the forecast period.

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Power Integrated Circuits Expected to Record Significant Growth

The critical feature of a power integrated circuit is handling high voltage and high current, over conventional semiconductor technologies. This is a significant factor driving the growth of power integrated circuits, over the forecast period. The adoption of power integrated circuits is increasing, as a chip used to operate the electronic display, to perform load monitoring, diagnostic functions, self-protection, and provide information feedback to the microprocessor. The growing consumer electronics market offers a significant opportunity for power integrated circuits. Further, their rising adoption in the automotive industry, for electric vehicles or multiplexed bus systems with distributed power integrated circuits for control of lights, motors, and air conditioning, is also transforming the automotive sector. Due to their power efficiency characteristics, their applications are also growing, in the power industry. The global power management integrated circuits market is expected to register a CAGR of 8.94%, over the forecast period. Therefore, with such a significant scope, the power integrated circuit market is expected to register considerable growth, over the forecast period.

North America Expected to Record Significant Growth in Power Semiconductor Market 

North America’s strong financial position enables it to invest heavily in advanced consumer electronic gadgets and technologies. Therefore, the region has been witnessing a noticeable growth, in the power semiconductor market. The region is also a significant investor in the global electric vehicle market. Moreover, the region enjoys the presence of several significant vendors in the power electronics market, who are also investing significantly in the development of advanced power semiconductors. North America is also the most significant contributor to the global IT BFSI equipment, telecommunication, military, and consumer smart electronics markets, which account for the majority of demand for power semiconductors. The United States accounts for the highest investment in the aerospace & defense industry. Over the last couple of years, the decrease in costs associated with different devices, ranging from 3D printers to smartwatches and fitness trackers, is anticipated to augment the demand for power semiconductors, among domestic manufacturers. The region is also the earliest and fastest adopter of IoT trends, among all major industries. The region also accounts for the highest investments, in the smart wearable market.

Key Developments in the Market 

June 2018: ON Semiconductor announced the launch of a new family of multi-chip module PWM buck regulators, by offering market-leading current density and fully integrated MOSFETs.
February 2018: NXP Semiconductors announced the launch of its new IoT-on-a-Chip, which significantly advances the future of edge computing. The scalable offering packs NXP’s ARM-based i.MX applications processor, Wi-Fi, and Bluetooth into a much smaller size, thereby offering a broad range of functionality, security, and connectivity to IoT devices.

Companies Mentioned:
Infineon Technologies AG, Texas instruments Inc., STMicroelectronics NV, Qualcomm Inc., NXP Semiconductor, Fuji Electric Co. Ltd., Semikron International GmbH., Cree Inc., ON Semiconductor Corporation, Renesas Electronic Corporation, Broadcom Limited, Toshiba Corporation, Mitsubishi Electric Corporation

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Reasons to Purchase The Report

Insights on the power semiconductor market
An analysis of various perspectives of the market, with the help of Porter’s five forces analysis
The segments that are expected to dominate the market studied
Regional analysis of the market studied, during the forecast period
The latest developments, market shares, and strategies employed by the major market players and key innovators
3 months analyst support along with the Market Estimate sheet (in Excel)

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