Next-generation power semiconductors, as the name implies are the latest in technology for use as power semiconductors in electrical and electronic devices used across various industry verticals. Thier development is expected to provide highly efficient power semiconductors for use in different end-use industry verticals over the forecast period of 2017 to 2027, thus driving robust growth for this market.
Market Research Future (MRFR) has performed a thorough analysis of the market to provide a report which reliably indicates present trends, future opportunities and threats that may affect market growth. The need for more efficient semiconductors to keep up with advancing technology in various end-use industries has driven high demand for next-generation power semiconductors. MRFR has predicted that the market will grow at a high CAGR and a rapid pace over the forecast period.
Many global market leaders have found themselves at the forefront of research and development of innovative products, thus driving growth and making the market highly competitive. The market is expected to value several billion by the end of 2027.
Next-Generation Power Semiconductors Market has been segmented to provide a comprehensive view and understanding of the next-generation power semiconductors and their various components. Segmentation has been done by product material, device, application, and region.
By product material, the market has been segmented to include Gallium Nitride (GaN) and Silicon Carbide (SiC). Of these, GaN is expected to hold the largest share due to the growing preference for the material in semiconductors over SiC.
By device, the market has been segregated into diode, MOSFET/IPD, and IGBT/Power module.
By applications, the market has been segmented to include renewable energy, hybrid & electric vehicle, smart homes, LED lights and others.
By region, the global market has been divided into the North America, Europe, the Asia-Pacific (APAC) and the Rest of the World (Row)
North America, with its booming automotive industry and high demand and consumption of personal devices such as laptops, smartphones, and tablets, has captured the largest market share globally. There are several key players in this region who are actively developing new and efficient next-generation semiconductor technology which is expected to boost this market further.
Meanwhile, the Asia Pacific is projected to grow at the highest CAGR and a rapid pace due to the massive consumer population with rising disposable incomes in the region. The demand for personal devices from the consumers in this region are fuelling rapid and robust growth for the next-generation power semiconductor market, and due to this, the region is likely to take over North America’s lead by the end of 2027. There is also a strong presence of technology giants in countries such as South Korea and Japan where ongoing R&D is expected to further market growth.
The analysis of the competitive landscape of the global next-generation power semi conducters include prominent players such as NXP Semiconductors, Fuji Electric, Infineon Technologies, STMicroelectronics, Mitsubishi Motors, Toshiba, Semikron, Fairchild, Vishay Intertechnology, Renesas Electronics and others.
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