Global Next Generation Power Semiconductors Market growing at a CAGR of 6.8% from 2023 to 2031
Category : Semiconductor And Electronics | Published Date : Oct 2023
Key Market Overview
The Global Next Generation Power Semiconductors Market was valued at USD 1,097.61 Million in 2022, projected to grow by USD 1,137.51 Million in 2023, and is expected to register a compound annual growth rate of 6.8% to reach USD 1,807.04 Million in 2031.
The report highlights the increasing adoption of next generation power semiconductors in automotive, electronics, telecommunication, and other industries. Consegic Business Intelligence provides an inclusive research report on the next generation power semiconductors market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Next Generation Power Semiconductors Market By Overview
The report analyses significant segments such as material type, end-user, and region, to identify emerging trends and potential opportunities. The material type segment is expected to grow due to the increasing adoption of GaN-based power semiconductors in automotive, telecommunication, electronics, and other sectors. Moreover, the rising deployment of SiC-based power semiconductors in automotive, aerospace & defence, and power generation industries is expected to drive the market growth during the forecast period.
Get Free SampleMarket Dynamics
Driver:
- Rising utilization of next generation power semiconductors in automotive industry is driving the market growth.
- Growing consumer electronics sector is spurring the market growth.
Restraints:
- High cost of raw materials is restraining the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Material Type | GaN (Gallium Nitride) and SiC (Silicon Carbide) |
| By End-User | Automotive, Telecommunication, Electronics, Power Generation, Aerospace & Defence, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global next generation power semiconductors market is highly competitive due to the presence of major players such as NXP Semiconductors, Fuji Electric Co. Ltd., Infineon Technologies AG, STMicroelectronics, Renesas Electronics Corporation, and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in next generation power semiconductors market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- NXP Semiconductors
- Fuji Electric Co. Ltd.
- Infineon Technologies AG
- STMicroelectronics
- Littelfuse Inc.
- GaN Systems
- Renesas Electronics Corporation
- Wolfspeed Inc.
- Toshiba
- ROHM Co. Ltd.
- Mitsubishi Electric Corporation