Sellbyville, DE -- (SBWire) -- 05/31/2019 --Global Market Insights recently introduced report on global power semiconductor market report is an in-depth study providing complete analysis of the industry for the period 2018 to 2024. It provides complete overview of the industry considering all the major industry trends, market dynamics and competitive scenario.
In the power semiconductor market, the IGBT segment is expected to grow at a rapid rate owing to the high-power applications of these transistors in solar inverters, uninterruptible power supplies, electric vehicle motor drives, high-frequency welders, induction heaters, and power factor correction converters. The use of IGBTs offers advantages such as high voltage capability, relatively fast switching speeds, and the simplicity with which it can be turned on. These transistors find applications for high voltage and moderate speed applications such as switch mode power supplies, pulse width modulated variable speed control, and solar-powered inverters operating in hundreds of kilohertz range.
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Demand for the connectivity of faster transmission and lower latency is on the rise due to the growing demand for high-quality telecommunication services. Advancements in the 5G connectivity technology are expected to provide ample growth opportunities to the power semiconductor market growth. The 5G standards are nearing ratification, thereby providing semiconductor companies an enhanced grasp of the 5G architecture. These services sometimes use high frequencies to facilitate fast transmission and low latency in fueling the demand for high-performance power semiconductors. The market is expected to grow with the evolution of the 5G technology and related services, demanding fast switching speeds and low current losses.
The power semiconductor market will experience growth that can be attributed to the growing demand from the automotive sector. The trend of self-driving, green, and connected cars will propel the demand for these semiconductors. The rise in the number of electric vehicles coupled with the need for fuel-efficient systems will support the market growth. There is a fast growth in the sale of hybrid and electric vehicles owing to the growing environmental concerns. Power devices find applications in anti-lock braking systems, electric power steering, tire pressure monitoring, and electronic stability control. Advanced Driver Assistance Systems (ADAS) will see a fast adoption of cameras, sensors, and interconnectivity systems in cars thereby propelling the power semiconductor market.
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There will be a demand for Gallium Nitride (GaN) devices owing to the advantages offered by the material over silicon. The material features higher critical field strength than silicon. The higher electron mobility of the material enables a GaN device to have a smaller size and closer electrical terminals for a specified breakdown voltage requirement as compared to a silicon semiconductor. GaN is also becoming a popular technology for energy efficient power electronics. The development of GaN power devices will fuel the power semiconductor market growth.
The growing automotive sector in countries including China and India is anticipated to provide an impetus to the power semiconductor market. The development of smart manufacturing in China will spur the demand for power devices. Furthermore, the expanding power sector in the region will create growth opportunities for the Asia Pacific power semiconductor industry. The semiconductor industry in China is flourishing owing to the increased government spending in wafer fab equipment. Several government initiatives such as Digital India and Make in India will favor the industry growth in India.
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Key players in the power semiconductor market are Semikron International GmbH, Fuji Electric Co., Ltd., Mitsubishi Electric Group, Texas Instruments, Infineon Technologies AG, ST Microelectronics N.V., Toshiba Corporation, and ABB Ltd. The leading players are trying to introduce advanced solutions that implement the latest technologies. In May 2018, Fuji announced the launch of Fuji IGBT Simulator version 6 for loss and temperature calculation of the company's IGBT devices.
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Power Semiconductor Market in IGBT Segment Is Projected to Grow at a Rapid Rate over 2018–2024
The Power Semiconductor Market Will Experience Growth That Can Be Attributed To The Growing Demand From The Automotive Sector