Power electronics is a solid-state circuitry device that converts and controls electric power from the source to the load in an efficient and convenient manner. It is used to control the fluctuated power from one device to other power devices such as diodes, transistors, and thyristors. It enables power management to enhance energy conservation in various applications such as industrial systems, consumer electronic, and electric vehicles. In addition, power electronics can control the flow of energy in unidirectional as well as bidirectional manner, depending upon the usage. Currently, it is used in renewable resources and electric vehicles to improve switching speed and prevent power loss.
Increasing adoption of power electronics in electric vehicles and aggrandized need for power management devices have led to higher adoption of power electronics in energy & power, automotive, consumer electronics, and other industries. Therefore, the global power electronics market is expected to witness moderate growth in the near future, owing to high-speed switching rate and optimized power loss. However, current leakage at high temperature and high infrastructure deployment cost hamper the market growth. Proactive government initiatives to establish high voltage direct current (HVDC) and smart grid utilizing power devices for power conversation are expected to provide lucrative opportunities to the market.

Market Analysis and Insights: Global Power Electronics Market
The global Power Electronics market size is projected to reach US$ 43460 million by 2027, from US$ 34010 million in 2020, at a CAGR of 3.1% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Power Electronics market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Power Electronics market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Power Electronics market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Power Electronics market.

Global Power Electronics Scope and Market Size
Power Electronics market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Power Electronics market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Power IC
Power Module
Power Discrete

Segment by Application
Consumer Electronics
Energy & Power
Industrial System
Inverter & UPS
Automotive

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Infineon Technologies
Mitsubishi Electric Corp
Toshiba Corporation
STMicroelectronics
Fuji Electric
Rockwell Automation
Microchip Technology Corporation
Texas Instruments