ICT Industry Reports

Automotive Industry dominates the Global Power Electronics Market in the future years.   According to TechSci Research report,  “ Power Electronics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027F ”  Global power electronic market stood at USD40.52 billion in 2021 and is expected to grow at a CAGR of 5.61% during the forecast period. This astonishing growth can be attributed to the growing demand for the green energy. Higher energy consumption and surging demands for the renewable sources of the energy facilitate the growth of the global power electronics market in the upcoming five years. Evolution in the energy resources and consistent research to find latest innovative methods of converting the renewable energy into electrical energy further supports the growth of the global power electronics market in the next five years. Expanding automotive industry, increasing investment in the support of advancing the automotives, technologi...

According to TechSci Research,  Global power electronics market stood at USD40.52 billion in 2021 and is forecast to grow at a CAGR of 5.61% by 2027. The global power electronics market is propelled by a growing trend for Hybrid Vehicles (HVs) and Electric Vehicles (EVs). Additionally, the rising popularity of renewable energy sources among developing and emerging economies is expected to boost the demand for power modules and power discrete . Furthermore, the emergence of smart grids that helps the purpose of reliable and efficient electricity supply, integrating other renewable energy into an existing network and supporting the growth of electric vehicles at a scale is expected to further boost the market growth over the next few years. Power electronics refers to an interdisciplinary field of electrical engineering that deals with the design, control, and conversion of electrical energy. A power electronic system is a system that converts electric energy to an electrical load t...