Power Semiconductor Market Worth US$54,881.2 Mn by 2025; Advancements in Electronic Manufacturing to Boost Global Demand - TMR
ALBANY, New York, Aug. 26, 2019 /PRNewswire/ -- Advancements in the field of electronic manufacturing have generated lucrative opportunities within the global power semiconductor market. New technologies for fiber lasers and high-power semiconductors are continually evolving across the globe. nLIGHT, Inc. is a globally-acclaimed manufacturer of semiconductors and fiber lasers. The company recently announced that one of its representatives would be presenting a paper at the Annual Technology Conference due to be held in New York on September 4, 2019. The company has a strong base for manufacturing high-power semiconductors for applications ranging across aerospace, defense, and microfabrication.
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The growth of the global power semiconductor market largely hinges on to developments in the electronics industry. The past decade has witnessed the development of several new products within the electronics sector. Hence, the global power semiconductor market is expected to become a goldmine of revenues for the market players. Furthermore, development of next-generation power semiconductors has earned investor confidence for the market entities. There is a pressing need for improving the safety, resilience, and durability of semiconductor devices. This factor, coupled with the need for rectifiers in the power electronics industry, has driven market demand.
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Transparency Market Research (TMR) predicts that the global power semiconductor market would expand at a moderate CAGR of 5.10% during the period between 2017 and 2025. The rapid growth of the power semiconductor market is expected to take the total market value to US$54,881.2 mn by 2025-end.
Several factors, including the indispensable need for power switches in integrated circuits, are behind the growth of this market. Power devices are used across a plethora of industries, and this propensity has also pushed market growth. The popular of minimalistic devices such as headphone amplifiers has brought power semiconductors under the spotlight of attention.
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Need for Diodes, Switches, and Amplifiers as the Basis for Market Growth
The technical specifications of an electronic device are determinant of its quality, performance, and durability. For this reason, most electronic and semiconductor manufacturers focus on manufacturing high-quality diodes. This is a key consideration from the point of growth within the global power semiconductor market. Furthermore, the development of resilient switches for powering electronic devices is also a key driver of demand. On factoring the operational dynamics of the electronics industry, it can be stated that power semiconductors are an integral component of the production change.
Management of trade-offs between current and voltage requires the use of power semiconductors. Besides this, the use of power semiconductors as amplifiers in the electronic industry has also created a juggernaut of growth possibilities within the global power semiconductor market. The number of low-voltage electronic devices produced annually been rising over the past decade. Henceforth, the global power semiconductor market is poised to become a lucrative industry in the years to follow.
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Applications in Industries of National Relevance
Although power semiconductors are largely meant for low-voltage circuits and devices, their utility spans across a range of industries. The use of these semiconductors in manufacturing low-voltage healthcare devices has given a thrust to market growth. Furthermore, the need for fixes and minor changes to the electronic architecture of aerospace equipment also aids market growth. Other important applications of power semiconductors span across breakdown voltage, rise and fall times, on-resistance, safe operating areas, and thermal resistance. This factor has also created streams of growth within the global power semiconductors market.
This review is based on TMR's report titled, "Power Semiconductor Market (Component - Power MOSFET, Rectifiers, Thyristors, IGBT, and Diode; Material - Silicon/ Germanium, Silicon Carbide (SiC) and Gallium Nitride (GaN); End-use - Automotive, Industrial, Telecommunication, Consumer Electronics, Aerospace & Defense, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025"
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The global power semiconductor market is segmented on the basis of:
- Component
- Power MOSFET
- Rectifiers
- Thyristors
- IGBT
- Diode
- Material
- Silicon/ Germanium
- Silicon Carbide (SiC)
- Gallium Nitride (GaN)
- End-use
- Automotive
- Industrial
- Telecommunication
- Consumer Electronics
- Aerospace & Defense
- Healthcare
- Others
- Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
- South America
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