Power Semiconductors Market Analysis, Growth and Trends Report 2023-2030
December 21, 2023 ⚊ 1 Min read ⚊ Views 44 ⚊ TECHNOLOGY
Power Semiconductors Market Size was valued at USD 40.70 billion in 2022 and is expected to reach USD 53.60 billion by 2030, and grow at a CAGR of 3.5% over the forecast period 2023-2030. With advancements in technology and the introduction of wide bandgap materials like silicon carbide (SiC) and gallium nitride (GaN), power semiconductors are achieving higher operating temperatures and lower losses, making them more suitable for high-power applications. Consequently, manufacturers are investing in research and development to enhance product performance and expand their market presence. Overall, the power semiconductor market is poised for steady growth in the coming years.
Tags: Power Semiconductors Market Analysis
