The Global Power Electronics market is accounted for $20.46 billion in 2014 with CAGR of 10.75% is likely to reach $46.32 billion by 2022. The market is expected to make the market over next decade due to expected growth in power demand for consumer applications. The demand for renewable energy, smart grids and demand for multi-portable devices are the major factors driving the growth of the market. Economic uncertainty and Regulatory barriers are the major factors hampering the expansion of the market. The opportunity for escalation in the market lies in Power, Energy and Automotive Sector.
Global Power Electronics market is categorised by Technology, by Device, by Sector and by Geography. Based on Technology, market is segmented into GaN and SiC. Based on Device, market is segregated into Power Ic, Power Module and Power Discrete. Based on Sector, the market is classified into Residential, Commercial and Transportation. Market by geography, is segmented into North America, Europe, Asia Pacific and Rest of the World. Major market for Power Electronics lies in Asia Pacific.
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