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Power Electronics (PE) refers to devices that convert electrical energy from one form to another. Power electronics is used in various industries such as automotive, power & energy, ICT, consumer electronics, and aerospace & defence; the dominating share occupied by consumer electronics industry.

The technological advancements, increasing number of applications for power electronics and growth in adoption in renewable energy segment are some of the factors driving the growth of the global power electronics market. The adoption of power electronics in the renewable energy sector has been rejuvenating. The increasing demand for higher power density in electronics and high penetration of power electronics devices in utility applications are also major drivers for the global power electronics market.

The applications of power electronic devices are expanding across various sectors, especially in the automobile industry. The evolution of electric vehicles (EVs) and hybrid electric vehicles (HEVs) is driving the demand for power electronic devices in the automotive industry. In addition, the increase in infotainment applications in automobiles is driving the demand for power electronic devices with high power density. Power electronics devices are increasingly being used in the defence and aviation sectors. Other sectors where the applications of power electronic devices are increasing, include consumer electronics, healthcare, manufacturing, and telecom and increased penetration of power electronic devices in utility applications.

The global power electronics market is expected to reach USD 39.22 billion by 2025, according to Grand View Research, Inc.The development of power infrastructure, coupled with the increasing demand for battery-powered portable devices, has led to the increased adoption of power electronic devices and products across various industry verticals such as power, automotive, communication, aerospace & defense, consumer electronics, and other sectors.

Today, it is accepted globally that a real breakthrough in the power electronics industry is expected to come from the development and use of WBG semiconductor devices. The two major WBG materials with the potential to allow significant advances in power electronics are silicon carbide (SiC) and gallium nitride (GaN). GaN is expected to be the major WBG semiconductor for the replacement of silicon-based applications requiring device ratings less than 600 volts, but its impact is expected to be predominant for radio frequency (RF) and power supply applications.

The power electronics market is facing challenges with the high initial expenditures and deposition of Gallium Nitride (GaN), Gallium Arsenide (GaAs), and Silicon Carbide (SiC) on the silicon materials which is a complex procedure, especially to reach while in high voltage ranges. Expensive & time-consuming processes and complexity issues involved in manufacturing power devices are anticipated.

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