Lucintel’s latest market report analyzed that power semiconductor provides attractive opportunities in the automotive, consumer electronics, IT and telecommunication, military and aerospace, power and energy, industrial, and other segments. The power semiconductor market is expected to reach $42.9 billion by 2028 with a CAGR of 6.5%. In this market, power integrated circuit is the largest segment by component, whereas wireless is largest by technology.
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Based on component, the power semiconductor market is segmented into discrete, module, and power integrated circuits. The power integrated circuits segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to because of increasing usage of these semiconductors in high voltage applications, such as solar panels, power supply, automobiles, and trains.
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The Power Semiconductor Market is marked by the presence of several big and small players. Some of the prominent players offering power semiconductor include ABB, Broadcom, Fuji Electric, Hitachi, Infineon Technologies, Microchip Technology, Mitsubishi Electric, NXP Semiconductor, Onsemi.
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