Next-Generation Power Semiconductors Market

Next-Generation Power Semiconductors Market Forecast 2023
Next-Generation Power
Semiconductors Market
Report-Forecast 2023
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Next-Generation Power Semiconductors Market Forecast 2023
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Next-Generation Power Semiconductors Market Forecast 2023
Summary
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.
Their 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.
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Next-Generation Power Semiconductors Market Forecast 2023
Key Players
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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Next-Generation Power Semiconductors Market Forecast 2023
Segmentation:
The global 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)
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Next-Generation Power Semiconductors Market Forecast 2023
Regional Analysis:
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 nextgeneration 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.
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Next-Generation Power Semiconductors Market Information, by Product Material (GaN, SiC), by Device (Diode, MOSFET/IPD, IGBT/Power module), by Applications (Renewable energy, Hybrid & electric vehicle, smart homes, LED lights) - Forecast 2019-2027

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