The devices allow electricity to flow when they are on and stop it off to improve system efficiencies and reduce energy losses. For years, silicon-based devices, such as power MOSFETs and insulated-gate bipolar transistors dominated the power semiconductor market (IGBTs). Both are mature and reasonably priced, but they have reached their theoretical limits in several ways. GaN and SiC devices have been competing in the market for years against IGBTs and MOSFETs in various segments.

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Market Dynamics

The Growing Demand For Power Semiconductors In Automobiles And Consumer Electronics Is Expected To Propel Market Growth.Power semiconductors are used in consumer electronics, such as video games, televisions and watches. Hybrid electric vehicles (HEV) and electric vehicles (EV) are essential in terms of power semiconductor demand because they comprise more semiconductors than combustion-engine vehicles. The demand increase for HEVs and EVs is anticipated to be similar to that of other vehicles, increasing their market share and consequently, the demand for power semiconductors, thereby propeling global power semiconductors market growth.

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Segment Analysis

Silicon has the leading market share of 56% in the material segment. The bulk of integrated circuits on the market are manufactured of high-purity silicon. The main component of a solid-state device is the semiconductor used in a silicon-integrated circuit.The silicon integrated circuit is also popular due to silicon's widespread availability, which is a common component in ordinary sand. silicon electronics have proven flexible, creating durable, low-cost mass-market devices. Above mentioned factors help the product segment to dominate the market.

Competitive Landscape

The major global players include Infineon Technologies AG, STMicroelectronics, NXP Semiconductors, Renesas Electronics Corporation, Robert Bosch GmbH, Mitsubishi Electric Corporation, Semiconductor Components Industries, LLC, LittelFuse, Texas Instruments, Analog Devices, Qualcomm, Semikron Elektronik GmbH & Co. KG, Toshiba Corporation and Fuji Electric Co., Ltd.

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