The expansion of power electronics over the past three decades can be linked to advances in power semiconductor devices, since these components are critical in nearly every power electronics application. Power semiconductor devices play a crucial role in the regulation and distribution of power and energy in the world. Power semiconductor switches are the work-horses of power electronics (PE). There are several power semiconductors devices currently involved in several industrial applications.
The major growth drivers of the power-semiconductor switches market include rise in demand for energy-efficient electronic products, growing demand for high power density, increased use of renewable energy sources, and increase in demand for high production capacity using less equipment. In addition, increase in adaptation of consumer electronics devices will drive the growth of power semiconductor switches market.
Major challenges of power semiconductor switches market is worldwide financial uncertainty and macroeconomic situations such as currency exchange rates and economic difficulties are some of the major factors which are hindering the growth of power semiconductor switches market. Vendors are investing more in Research & Development processes to manufacture devices which operates at higher levels of power density. Thus, in many high-power applications demanded for higher power densities drives the market.
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The global power semiconductor switches market is segmented on the basis of type, material, industry vertical, and geographical region. On the basis of type, the market is segmented into power metal-oxide-semiconductor field-effect transistor (MOSFET), bipolar-junction transistor (BJT), insulated-gate bipolar transistor (IGBT), thyristor (SCR, GTO, MCT) and others. The market for IGBTs used in power semiconductor switches is predictable to grow at the highest CAGR during forecast period. IGBT combines the physics of both BJT and power MOSFET to gain the advantages of both worlds. By material, power semiconductor switch is segmented into gallium nitride, gallium arsenide, silicon germanium, silicon, silicon carbide (Sic).
By industry vertical, power semiconductor switches market can be segmented into healthcare, automotive, power sector, aerospace computers, defense, computer, consumer electronics, industrial, transportation, communications and others. The demand for power semiconductor switches solutions across numerous applications in the consumer electronic industry is likely to grow expressively over the next 5 years. The consumer electronic industry is at the forefront of implementing power semiconductor switches. The automotive & transportation industry is expected to have largest market share during estimated period.
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By geographical region the global power semiconductor switches market is split up into North America, Europe, Asia Pacific, Middle East & Africa and South America. Presently, Asia Pacific and North America is holding the largest market share for power semiconductor switches market due to growing demand from various industries. Moreover, Europe is fastest growing market for power-semiconductor switches due to increase in adaptation of consumer electronics devices. Usage in renewable energy resources driving the growth of power semiconductor switches market across the globe.
Acquisitions and Merger, new product introductions, investments, and corporations & developments are the key strategies adopted by market companies to ensure their growth in the power semiconductor switches market. The key players are Infineon technologies AG, Texas instruments Inc., ST Microelectronics, Qualcomm Inc., Fairchild semiconductor, Renesas electronic corporation, Western digital, Toshiba Corporation, Softbank Group and Mitsubishi Electric Corporation are some major players in the power semiconductor switches market.
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