Global Wide-Bandgap Power Semiconductor Devices Market 2024-2028
The wide-bandgap power semiconductor devices market is forecasted to grow by USD 8185.2 mn during 2023-2028, accelerating at a CAGR of 46.12% during the forecast period. The report on the wide-bandgap power semiconductor devices market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for high-power density devices, strategic collaborations among market participants, and government initiatives supporting development of wbg power semiconductors.
Technavio's wide-bandgap power semiconductor devices market is segmented as below:
- By Application
- UPS and PS systems
- PV inverters
- IMDs
- EVs or HEVS
- Others
- By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the growing implementation of signal processing applications as one of the prime reasons driving the wide-bandgap power semiconductor devices market growth during the next few years. Also, increased demand for vehicles that operate on alternative fuels and focus on moving toward larger wafers will lead to sizable demand in the market.
The report on the wide-bandgap power semiconductor devices market covers the following areas:
- Wide-bandgap power semiconductor devices market sizing
- Wide-bandgap power semiconductor devices market forecast
- Wide-bandgap power semiconductor devices market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading wide-bandgap power semiconductor devices market vendors that include Fuji Electric Co. Ltd., GaN Systems Inc., GeneSiC Semiconductor Inc., Hitachi Ltd., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Inc., Mitsubishi Chemical Group Corp., Nexperia BV, ON Semiconductor Corp., Qorvo Inc., ROHM Co. Ltd., Skyworks Solutions Inc., STMicroelectronics International N.V., Texas Instruments Inc., Toshiba Corp., Transphorm Inc, and Wolfspeed Inc.. Also, the wide-bandgap power semiconductor devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.