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Global Wide-bandgap Power Semiconductor Devices Market – Drivers and Forecasts by Technavio

LONDON, Jun 07, 2017 (BUSINESS WIRE) — Technavio
analysts forecast the global wide-bandgap power
(WBG) semiconductor devices market
to grow at a
CAGR of almost 38% during the forecast period, according to
their latest report.

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The research study covers the present scenario and growth
prospects of the global wide-bandgap power
semiconductor devices market
for 2017-2021. The
market is segmented on theapplication (PFC, industrial motor
drives, renewable energy, automotive, and UPS) and by type (SiC
and GaN). The market is further segmented by geography,
including APAC, EMEA, and the Americas.

The market will witness a high year-over-year (YoY) growth rate
mainly due to the predicted mass production of silicon carbide
(SiC) products by 2018. However, after 2018, the market will
see an even greater growth rate due to the high adoption of
gallium nitride (GaN) based power devices by a wider customer
base. The demand in the market is due to the possible
performance benefits in applications with the use of WBG power

This report is available at a USD 1,000 discount for a
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Technavio hardware and
research analysts highlight the
following three factors that are contributing to the growth of
the global wide-bandgap power semiconductor devices market:

Increased use of renewable energy sources

The global demand for renewable energy sources will fuel the
growth of the WBG power semiconductor devices market. Renewable
energy is expected to produce more than one-fourth of the
global gross power generation during 2016-2021.
Governments across different countries are including renewable
energy in their long-term strategies for development.

Sunil Kumar Singh, a lead semiconductors
research analyst at Technavio, says,
Renewable sources of energy, such as wind energy and solar
power, will benefit from the use of WBG power devices. These
resources require high-power devices with greater efficiency,
which can be delivered by WBG power devices
. The use
of WBG devices in renewable sources will not only increase
efficiency but also provide improved switching frequency by
more than twice.”

Growing demand for high power density

The increase in demand for high production capacity using less
equipment requires more functionalities to be added to the
equipment. As a result, the equipment requires more power
density to operate. Thus, the demand for high power solutions
across the globe is increasing and driving the requirement for
WBG power semiconductor devices. Since WBG power devices can
operate in an environment of up to more than 400 degree
Celsius, they have the potential to make high-power
applications more optimum.

WBG power devices, especially SiC, will be an ideal choice
for high power applications due to its high thermal
conductivity. WBG devices are expected to reduce power losses
by 90% during the conversion of AC to DC current and vice
versa. This technology will enable devices to operate at high
temperatures and voltages with higher frequencies after a
reduction in their size and weight
,” adds Sunil.

Rise in demand for energy-efficient electronic

Governments across different countries are deploying policies
such as energy performance labels, general awareness programs,
and energy performance standards to ensure environmental
safety, reduce consumption of energy, and lower utility bills
for consumers. These policies and the rise in the costs of
energy has compelled manufacturers to take measures to develop
energy-efficient products.

The efficient use of energy is a crucial approach to achieve
sustainable growth in the society by minimizing carbon
emissions that come with reducing electrical consumption in
areas such as transportation, household appliances, and
industrial equipment. The electrical efficiency of products is
expected to cut down power bills by approximately one fifth.
These factors will drive the demand for WBG power semiconductor
devices during the forecast period.

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About Technavio

Technavio is a
leading global technology research and advisory company. The
company develops over 2000 pieces of research every year,
covering more than 500 technologies across 80 countries.
Technavio has about 300 analysts globally who specialize in
customized consulting and business research assignments across
the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a
range of markets. Analysts obtain information using a
combination of bottom-up and top-down approaches, besides using
in-house market modeling tools and proprietary databases. They
corroborate this data with the data obtained from various
market participants and stakeholders across the value chain,
including vendors, service providers, distributors, re-sellers,
and end-users.

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Technavio Research
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