Blockchain Press Releases
Power Electronics Market is Projected To Reach USD 43460 Million In 2029 With A CAGR of 3.1% | Valuates Reports
BANGALORE, India, Aug. 8, 2023 /PRNewswire/ — The Power Electronics market is segmented by Type – Power IC, Power Module, Power Discrete, by Application – Consumer Electronics, Energy & Power, Industrial System, Inverter & UPS, Automotive. Global Opportunity Analysis and Industry Forecast 2023-2029. It is published in Valuates Reports under the Electronics & Electrical Category.
The global Power Electronics market is projected to reach USD 43460 million in 2029, increasing from USD 34010 million in 2022, with a CAGR of 3.1% during the period of 2023 to 2029.
Major Factors Driving The Growth Of Power Electronics Market are
Increasing usage of and emphasis on the production of renewable energy in semiconductor devices is expected to drive the growth of the Power Electronics Market
Rising transportation industries and the automobile sector along with the growing industries involved in electricity production and rising demand in developing nations will further fuel the Power Electronics Market.
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TRENDS INFLUENCING THE GROWTH OF POWER ELECTRONICS MARKET
Currently, a number of nations are switching from the use of fossil fuels like coal and gas to generate power to renewable energy sources. As a result, new installations of renewable energy sources have been growing steadily while non-renewable energy sources have been declining at the same time. Power electronics are crucial in the transition of electrical energy patterns to more energy-efficient renewable energy sources. AC and DC electrical power is converted and controlled by power electronics. As wind and solar energy systems are the most potential renewable energy sources for generating electricity, power electronics-based power converters are also frequently used in these renewable energy systems. Solar panels, wind turbines, fuel cells, batteries, capacitors, and other power equipment are examples of these renewable systems.
In hybrid and plug-in Electric Vehicles (EVs), vehicle power electronic components process and regulate the flow of electrical energy. They also regulate the torque and speed of an engine. Inverters, DC/DC converters, and chargers (for plug-in electric vehicles) are a few of these parts. These electronics are frequently employed in EVs since the electric motors in these vehicles need high-power electric energy to rotate them. In powertrain systems, power components like MOSFETs and IGBT are employed as power electronic switches, which helps to reduce the overall size. Due to these benefits, the market is anticipated to expand at a noteworthy rate throughout the forecast period.
Wide bandgap semiconductor semiconductors like GaN and SiC have altered the Power Electronics Market’s topography. Wide bandgap semiconductor materials enable the construction of power electronic components that are more efficient, faster, more reliable, and smaller than silicon-based counterparts. Higher efficiency not only reduces power losses but also makes it possible to use smaller systems, which lowers costs with faster switching speeds compared to silicon-based solutions. With the use of these characteristics, a variety of power applications can minimize weight, volume, and life cycle costs. Additionally, the usage of SiC and GaN has improved the performance of already-developed semiconductor technologies like MOSFETs and isolated gate bipolar transistors (IGBTs).
Because of their benefits like streamlined circuits, backward and forwards backing capabilities, compact designs, and the capacity to withstand high voltage and current, power electronics are in high demand across a variety of industries, including consumer electronics, automotive & transportation, industrial, and others. Numerous products and gadgets, including battery chargers, AC adapters, fans, fluorescent lamp ballasts, audio amplifiers, and others, are increasingly using these circuits.
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POWER ELECTRONICS MARKET SHARE ANALYSIS
Due to the growing acceptance of power electronic devices in renewable energy systems, such as solar power plants and wind turbines, the energy sector is predicted to gain a sizeable industry share throughout the projection period. To handle low, high, and variable power requirements, such systems can integrate power electronics.
Due to the rising need for such electronics in EVs, rapid charging stations, and battery systems, the automotive sector will also experience considerable growth throughout the forecast period. In order to decrease the total size, silicon-based components are also employed as power electronic switches in automobile powertrain, electrical, and electronic systems, such as power MOSFETs and IGBTs. Power electrical devices will be a popular product in the automotive industry as a result of these qualities.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Infineon Technologies
- Mitsubishi Electric Corp
- Toshiba Corporation
- STMicroelectronics
- Fuji Electric
- Rockwell Automation
- Microchip Technology Corporation
- Texas Instruments
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SIMILAR REPORTS
- Anodizing Power Supplies Market
- Industrial Electronics Market
- Electrowinning Rectifier Market
- Electric Vehicle Power Electronics Market
- Thermal Interface Materials for Power Electronics Market
- SiC Based Power Electronics and Inverter Market
- Power Semiconductor Market was valued at USD 46070 million in 2022 and is anticipated to reach USD 66420 million by 2029, witnessing a CAGR of 5.3% during the forecast period 2023-2029.
- Compound Semiconductor Materials Market is projected to grow from USD 1094.2 million in 2023 to USD 1340.4 million by 2029, at a Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period.
- The global Silicon Carbide Epitaxial Wafer market was valued at USD 227.8 million in 2022 and is anticipated to reach USD 1667.4 million by 2029, witnessing a CAGR of 32.5% during the forecast period 2023-2029.
- Semiconductor Manufacturing Equipment Market size is projected to reach USD 53200 million by 2027, from USD 39510 million in 2020, at a CAGR of 3.9% during 2021-2027.
- Connector Market was valued at USD 62.3 billion in 2020, and is projected to reach USD 114.7 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.
- Automotive Semiconductor Market size is projected to reach USD 42140 million by 2028, from USD 31430 million in 2021, at a CAGR of 3.8% during 2022-2028.
- Application Container Market size is projected to reach USD 6304.5 million by 2027, from USD 1228.9 million in 2020, at a CAGR of 25.8% during 2021-2027.
- GaN and SiC Power Semiconductors Market was valued at USD 1407.9 million in 2022 and is anticipated to reach USD 8713.7 million by 2029, witnessing a CAGR of 35.5% during the forecast period 2023-2029.
- Compound Semiconductor Market size was valued at USD 38.25 billion in 2021 and is forecast to be a readjusted size of USD 55.42 billion by 2028 with a CAGR of 5.48% during the forecast period 2022-2028
- Global Insulated Gate Bipolar Transistor Market Research Report 2023
- The global Wide Band Gap Semiconductor market is projected to grow from USD 744.7 million in 2023 to USD 1509.6 million by 2029, at a Compound Annual Growth Rate (CAGR) of 12.5% during the forecast period.
- The global RF Energy Transistors market was valued at USD 1098 million in 2022 and is anticipated to reach USD 1761.3 million by 2029, witnessing a CAGR of 6.9% during the forecast period 2023-2029.
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Blockchain
ChainSwap Revolutionizes Multi-Chain DeFi with Intra-Chain Swaps
ChainSwap, the pioneering multi-chain decentralized exchange (DEX), has unveiled a groundbreaking feature that sets a new standard for decentralized finance (DeFi). Today, ChainSwap proudly announces the launch of its intra-chain swap capability, a monumental advancement in enabling seamless transactions across six major blockchain networks.
As the first of its kind, ChainSwap empowers users with the ability to seamlessly swap assets within the same blockchain, enhancing user retention and eliminating the need for multiple wallets across various chains. This revolutionary development revolutionizes the DeFi
landscape, offering users unparalleled freedom to traverse across different chains within a single platform.
ChainSwap stands as the epitome of decentralization, providing a one-stop-shop solution for multi-chain swaps. Powered by cutting-edge Cross-Chain Interoperability Protocol (CCIP) technology, ChainSwap ensures smooth and secure transactions across all compatible
blockchains, including Optimism, Ethereum, Arbitrum, Avalanche, Polygon, and Base.
With the launch of ChainSwap’s intra-chain swap functionality, users can now effortlessly exchange assets within their preferred blockchain, heralding a new era in digital asset transactions. This monumental achievement marks a significant milestone in the evolution of decentralized finance, propelling ChainSwap to the forefront of the industry.
The post ChainSwap Revolutionizes Multi-Chain DeFi with Intra-Chain Swaps appeared first on HIPTHER Alerts.
Blockchain Press Releases
Tiger Brokers (HK) officially launches virtual asset trading services, leading the way in Hong Kong’s online brokerage industry
Effortlessly manage traditional securities and virtual assets with one app Tiger Trade: tailored to meet diverse investment needs
- Professional investors can now trade 18 virtual assets, including Bitcoin and Ethereum, through the Tiger Trade app.
- The one-stop platform enables seamless management of traditional securities and virtual assets, fostering more flexible and diversified asset allocation strategies.
HONG KONG, May 6, 2024 /PRNewswire/ — Tiger Brokers (HK) (“Tiger Brokers (HK)” or “Tiger Brokers”) announced the launch of its virtual asset trading services, becoming one of the first online fintech brokers in Hong Kong to offer a single platform that allows trading and managing both traditional securities and virtual assets. Professional investors in Hong Kong can now use Tiger Trade, Tiger Brokers’ flagship investment app, to trade 18 virtual assets including Bitcoin (BTC) and Ethereum (ETH), alongside stocks, options, futures, US Treasury bonds, funds, and other global assets, all at an affordable cost. This eliminates the need for multiple accounts across different brokers and platforms, making global asset allocation simpler and more convenient.
John Fei Zeng, Chief Financial Officer and Director of Tiger Brokers stated: “We are honored to be among the first fintech brokerage firms in Hong Kong to introduce virtual asset trading, leading the way in meeting investors’ evolving needs. As investors’ asset allocation requirements become increasingly diverse, our expanded product portfolio will help them seize various market opportunities. Our unified trading platform allows investors to trade and manage different types of investments seamlessly, enhancing user experience and boosting investment efficiency.”
He added: “With Hong Kong’s efforts to develop into a Web3.0 hub, we are confident in its vision. Hong Kong is one of the pioneering international financial centers introducing comprehensive regulations for virtual asset and fostering a trading-friendly environment. We aspire to bolster Hong Kong’s competitiveness in the global financial landscape through our contributions.”
Secure, convenient, and affordable virtual asset trading experience
Having previously secured an upgrade to its Type 1 license conditions from the Securities and Futures Commission of Hong Kong (“SFC”), Tiger Brokers is aiming to offer professional investors secure virtual asset trading services, strictly adhering to legal and regulatory requirements.
Tiger Brokers continues to offer competitive trading rates, with virtual asset trading fees at only 0.2% of the transaction value, and custody fees waived. Unlike stock trading, virtual assets are settled instantly and can be traded 24/7. All registered users in Hong Kong can view real-time quotes, as well as top gainers and losers of virtual assets, via the user-friendly Tiger Trade interface, keeping abreast of market conditions anytime, anywhere. Furthermore, the Tiger Trade App enables instant T+0 exchange between Hong Kong dollars and US dollars.
Currently, Tiger Brokers’ virtual asset trading services are available only to professional investors. Eligible clients, including Hong Kong residents with over HKD 8 million in investment portfolio or corporate entities with assets exceeding HKD 40 million, can submit professional investor application on Tiger Trade. Customers also have the option to schedule an in-person visit to the Tiger Brokers office, where professional representatives will assist customers in completing the account opening and certification process. Looking ahead, Tiger Brokers plans to extend its virtual asset trading services to retail investors, subject to regulatory approval. Additionally, the company is considering the introduction of virtual asset spot withdrawal and deposit services.
Beyond virtual asset spot trading, Tiger Brokers also offers trading of U.S.-listed bitcoin spot ETFs and Hong Kong-listed spot bitcoin and ether ETFs to Hong Kong investors. Since entering the Hong Kong market just over a year ago, Tiger Brokers has won widespread acclaim from local users through the introduction of numerous innovative products and services. Recently, the SFC granted Tiger Brokers a Type 9 license for asset management services. With this, Tiger Brokers can offer a suite of asset management services, such as dedicated account services for both retail and professional investors, and collective investment scheme management for professional investors, thereby providing comprehensive support for the diverse investment needs of both retail and professional investors.
About Tiger Brokers (HK)
Tiger Brokers (HK) Global Limited (Central number: BMU940) holds type 1, 2, 4, 5 and 9 licenses of the SFC. Starting from 30th November 2022, with Tiger Trade, Tiger Brokers’ flagship app, Hong Kong users can trade financial products from major markets around the world, such as Hong Kong stocks, warrants, options, US stocks, US fractional shares and ETFs, etc., providing a one-stop solution to their investment needs. In the future, we will continue to expand our trading markets and categories to better serve Hong Kong investors.
About Tiger Brokers
Tiger Brokers (Nasdaq: TIGR), founded in 2014, is a leading online brokerage group with a focus on redefining global investing with technologies for the next generation.
Since our inception, the company has relentlessly offered a superior user experience to let everyone enjoy efficient and smart global investing, by bringing a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education in our pursuit of becoming a world-leading online brokerage group.
We strive to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services accessible to all with low latency.
Currently, we serve over 10 million users and over 2 million account holders worldwide on our flagship platform “Tiger Trade”, own 78 licenses and qualifications in different markets, and have over 1,000 employees on the team in Hong Kong, Singapore, New Zealand, the US, Australia, and Mainland China. In 2019, the company was listed on Nasdaq as UP Fintech Holding Limited under the ticker TIGR.
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Blockchain Press Releases
Bitget’s Blockchain4Youth Celebrates 1st Anniversary, Educated Over 6,000 Participants Worldwide
VICTORIA, Seychelles, May 6, 2024 /PRNewswire/ — Bitget, a leading crypto exchange and web3 company, announces the first anniversary of its Blockchain4Youth program and launches recap videos of the program. The initiative celebrated a year of driving Web 3.0 adoption among the youth, staying true to Bitget’s core principles of innovation, education, and empowerment. Bitget envisions a more equitable future driven by the crypto revolution, and Blockchain4Youth is a testament to that vision.
Over the past year, Blockchain4Youth has engaged over 6,000 participants and delivered over 54 campus lectures and workshops worldwide. Various events took place in Asia, the Middle East, Oceania, Europe and South America. The courses connect young participants with the tools and knowledge to understand and utilize blockchain technology, and over 2,000 certificates were issued to participants who completed the courses and passed the test.
The program’s ongoing collaborations with prominent influencers and over 51 universities, including University College London (UCL) in the United Kingdom, National Technological University in Argentina, Royal Melbourne Institute of Technology in Australia, National Taiwan University’s Blockchain Club, Ateneo De Manila University in the Philippines and many more. The program’s wide reach reinforces the company’s dedication to advancing blockchain education and empowerment initiatives.
Launched in May 2023 with $10 million committed over the following 5 years, Blockchain4Youth has quickly become a beacon of opportunity for Millennials and Generation Z. A study conducted by Bitget indicates that Millennials and Generation Z are pivotal in shaping a crypto-friendly future, with Millennials accounting for 46% of crypto enthusiasts.
Gracy Chen, Managing Director of Bitget, expresses, “Blockchain4Youth’s journey has been remarkable, and the program has transformed blockchain education, making it accessible and practical for the leaders of tomorrow,” remarks Chen. “Our dedication has not only been about imparting knowledge but about cultivating a vibrant community ready to pioneer the transformative applications of blockchain.”
Blockchain4Youth’s future plans include providing more scholarships worldwide and launching more online courses and content featuring different influencers in the field on crypto-related topics to further garner youngster’s attention.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
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