Global Wide-bandgap Power Semiconductor Devices Market 2019-2023| Rising Implementation of Signal Processing Applications Drives Growth| Technavio
LONDON--(BUSINESS WIRE)--Dec 5, 2018--The global wide-bandgap power semiconductor devices market research report by predicts the market to post a CAGR of close to 39% during the period 2019-2023.
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Technavio has released a new market research report on the global wide-bandgap (WBG) power semiconductor devices market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global wide-bandgap power semiconductor devices market is the increasing demand for high-power density devices. There is an increasing focus on achieving higher efficiency in power systems. The demand for power electronics is high in the aerospace and defense industry as they offer benefits such as light weight, easy maintenance, better control, and fault detection intelligence. The aircraft and military manufacturers have been incorporating SiC and GaN power electronic systems to withstand high voltages and deliver high output.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the growing implementation of signal processing applications as one of the key trends in the global wide-bandgap power semiconductor devices market:
Global wide-bandgap power semiconductor devices market: Growing implementation of signal processing applications
The intensive signal processing applications such as radio detection and ranging (RADAR), sound navigation and ranging (SONAR), UAVs, and unmanned underwater vehicles (UUVs) in the aerospace and defense industry use processing power, which generates a tremendous amount of heat. The aerospace and defense sector requires durable and high-performance electronics so that products such as missile systems that may be stored for as long as 10 years function effectively when deployed for mission-critical applications.
“To develop high-power semiconductors used in RADAR, SONAR, and unmanned aerial vehicles, there is an increase in the adoption of SiC and GaN. The SONAR systems are employed in military vessels in addition to UUVs and UAVs, to track enemy vessels and torpedoes,” says a senior research analyst at Technavio.
Global wide-bandgap power semiconductor devices market: Segmentation analysis
This wide-bandgap power semiconductor devices market analysis report segments the market by application (UPS and PS systems, PV inverters, IMDs, EVs/HEVs, and others) and geography (the Americas, APAC, and EMEA).
The UPS and PS systems segment held the largest wide-bandgap power semiconductor devices market share in 2018, accounting for around 41% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with more than 43% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: TECHNOLOGY SEMICONDUCTOR MANUFACTURING AEROSPACE DEFENSE OTHER DEFENSE
SOURCE: Technavio Research
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