Global Wide-Bandgap (WBG) Power Semiconductor Devices Market 2019-2023 | 39% CAGR Projection Through 2023 | Technavio
LONDON--(BUSINESS WIRE)--Dec 17, 2019--
The global wide-bandgap (WBG) power semiconductor devices market is expected to post a CAGR of almost 39% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global wide-bandgap (WBG) power semiconductor devices market 2019-2023 (Graphic: Business Wire)
The aerospace and defense sector are exhibiting strong demand for high-power density devices. This is because they offer various benefits such as lightweight, easy maintenance, better control, and fault detection intelligence. High-power density devices such as EVs/HEVs, IMDs, PV inverters, and UPS and PS systems primarily use WBG semiconductors. With the growing demand for high-power density devices, the need for WBG power semiconductors will increase significantly during the forecast period. These factors are crucial in the growth of the global wide-bandgap (WBG) power semiconductor devices market.
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As per Technavio, the growing implementation of signal processing applications will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Wide-Bandgap (WBG) Power Semiconductor Devices Market: Growing Implementation of Signal Processing Applications
SiC and GaN are increasingly being used for the development of high-power semiconductors in intensive signal processing applications such as radar, SONAR, UUVs, and UAVs. The growth of the shipping industry has increased the deployment of SONAR systems in ships to facilitate real-time information for e-navigation. Similarly, the UUVs are widely being used for various purposes such as naval mine detection, seabed mapping, seabed mining, exploring underwater mines, and search and recovery missions. Thus, the growing adoption of SONAR, UUV, radar, and UAVs will increase the demand for WGB semiconductor devices during the forecast period.
“Increasing number of foundry services for WBG power semiconductor devices and the focus on moving toward larger wafers will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Wide-Bandgap (WBG) Power Semiconductor Devices Market: Segmentation Analysis
This market report segments the global wide-bandgap (WBG) power semiconductor devices market by application (UPS and PS systems, PV inverters, IMDs, EVs/HEVs, and others) and geography (Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by EMEA and the Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the increasing adoption of UPS and PS products led by the growing number of data centers in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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PUB: 12/17/2019 02:00 PM/DISC: 12/17/2019 02:01 PM