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Power semiconductor Market to Reach $75.1 billion, Globally, by 2032 at 4.5% CAGR: Allied Market Research




The Power semiconductor market is driven by factors, including a surge in the installation of solar photovoltaic panels for electricity generation, an increase in demand for power electronics modules across various industry verticals, and the HVDC and smart grid initiatives by the government.

PORTLAND, Ore., Aug. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Power Semiconductor Market by Material (SiC, GaN, and Others) Product (Power MOSFET, IGBT, Thyristor, Power Diode, and Others), Industry Vertical (IT & Telecom, Aerospace & Defense, Industrial, Energy & Power, Electronics, Automotive, and Healthcare): Global Opportunity Analysis and Industry Forecast, 2023–2032“. According to the report, The global power semiconductor market was valued at $48.9 billion in 2022, and is projected to reach $75.1 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.

Power semiconductor are efficient electronic devices with high power ratings. These reliable devices are specifically designed to withstand high voltage and current with lesser losses.  Power semiconductor are produced by using semiconducting materials like silicon (Si) or silicon carbide (SiC). Power semiconductor are critical components in all kinds of power electronics equipment including uninterruptible power systems (UPSs) and inverters.

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Prime determinants of growth 

The Power semiconductor market analysis is anticipated to expand significantly during the forecast period owing to a surge in the installation of solar photovoltaic panels for electricity generation, an increase in demand for power electronics modules across various industry verticals. Additionally, the market for Power semiconductor is expected to benefit from the HVDC and smart grid initiatives by the government. However, complexity in the supply chain and designing process of SiC semiconductor technology poses a restraint to the growth of the Power semiconductor market during the forecast period.

Report coverage & details:

Report Coverage


Forecast Period


Base Year


Market Size in 2022

$48.9 billion

Market Size in 2032

$75.1 billion


4.5 %

No. of Pages in Report


Segments covered

Material, Product, Industry Vertical, and Region.


Rise in the installation of solar photovoltaic panels for electricity generation 

Increase in demand for power electronics modules across various industry verticals


HVDC and smart grid initiatives by the government


Complexity in supply chain and designing process of SiC semiconductor technology


Covid-19 Scenario

  • COVID-19 has a significant influence on both the economy and consumers. To curb the spread of the virus, manufacturing centers for electronics, including those producing semiconductors, were temporarily shut down. As a consequence, the semiconductor market’s supply chain has been severely affected, leading to shortages of raw materials, intermediate components, and finished products.
  • The lack of business continuity has resulted in adverse effects on revenue, shareholder returns, and overall financial performance of power the semiconductor industry.

The SiC segment is anticipated to dominate in terms of revenue during the forecast period

Based on material, the SiC segment accounted for nearly three-fifths of the total revenue in the global Power semiconductor market in 2022, and it is expected to continue its dominant position throughout the forecast period. The primary factors contributing to its dominance and growth are its superior material properties, including higher breakdown electric field strength, wider bandgap, and lower thermal expansion compared to conventional silicon semiconductors. Moreover, the GaN segment is projected to manifest the highest CAGR of 5.4% from 2023 to 2032, driven by include increasing demand in 5G infrastructure for high-frequency and high-power RF devices, growing adoption in electric vehicles (EVs) and renewable energy systems for enhanced efficiency, emerging applications in LiDAR technology for autonomous vehicles, and advancements in GaN technology leading to improved performance and cost-effectiveness.

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The power MOSFET segment garnered the major share in 2021

By product, the power MOSFET segment accounted for nearly one-fourth of the global Power semiconductor market share in 2021. This is attributed to its widespread use in various electronic devices for switching and amplifying electronic signals. Its compact size and ability to be integrated into single chips enable efficient power conversion and management, contributing to its significant market presence. Additionally, the increasing demand for electric devices, renewable energy systems, and electric vehicles further drives the adoption of power MOSFETs, solidifying their position in the Power semiconductor market. However, the IGBT segment would cite the fastest CAGR of 5.44% throughout the forecast period due to the increasing adoption of IGBTs in electric vehicles, consumer electronics, and renewable energy systems driving their demand in various industries. The ability of IGBTs to handle higher voltage and current levels, coupled with their fast switching rates and reduced power losses, makes them ideal for high-power applications.

The IT and Telecom segment is expected to dominate in 2022

Based on industry verticals, the IT and Telecom segment emerged as the market leader in the global Power semiconductor market in 2022, holding the highest market share of more than one-fifth of the revenue. This dominant position is attributed to the extensive adoption of Power semiconductor in various critical applications within the IT and Telecom industry. Power semiconductor are widely used in base stations, space applications, optical systems, satellite communication, radar systems, and wireless applications, among others, to enable efficient power management and signal amplification. Moreover, the energy and power segment held the major share of 18.9% in 2032. However, the automotive segment is expected to experience the fastest CAGR of 6.21% from 2023 to 2032. The remarkable growth of the automotive segment can be attributed to the increasing adoption of electric and hybrid vehicles, advancements in autonomous driving technologies, rising demand for vehicle connectivity and V2X communication, the need for high-efficiency power conversion, the popularity of advanced lighting systems, and the implementation of stricter emission regulations.

Asia-Pacific to maintain its dominance by 2032.

Based on region, Asia-Pacific dominated the Power semiconductor market revenue in 2022, representing nearly half of the global market share. This region is expected to witness the fastest CAGR of 5.33% from 2023 to 2032. The primary reasons for this dominance are the rise in industrialization, rapid urbanization, and increasing demand for power modules in various industries, including automotive, renewable energy, and electric grid infrastructures, are driving the adoption of Power semiconductor. Additionally, the availability of massive power plants generating high voltage power, coupled with the region’s growing population and energy consumption, further contributes to the dominance of Asia-Pacific in the Power semiconductor market.

Leading Market Players: –

  • Fuji Electric Co., Ltd.
  • Infineon Technologies
  • Mitsubishi Electric Corporation
  • Hitachi, Ltd.
  • NXP Semiconductors N.V.
  • ON Semiconductor Corporation
  • Renesas Electronics
  • STMicroelectronics N.V.
  • Texas Instruments Inc.
  • Toshiba Corporation

The report provides a detailed analysis of these key players in the global Power semiconductor market. These players have adopted different strategies such as agreements, innovations, expansions, product launches, collaborations, and others to increase their market penetration and strengthen their position. in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.  

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Key Benefits For Stakeholders:

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Power semiconductor market analysis and Power semiconductor market outlook from 2021 to 2031 to identify the prevailing market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Power semiconductor market trends, key players, market segments, application areas, and market growth strategies.

Power Semiconductor Market Key Segments:

By Product

  • Silicon Carbonate (SiC)
  • Gallium Nitride (GaN)
  • Others

By Application

  • IT and Telecommunication
  • Consumer Electronics
  • Automotive
  • Aerospace and Defense
  • Transportation
  • Medical
  • Energy and Power
  • Others

By Component

  • Discrete
  • Module
  • Power Integrated Circuits

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (UK, Germany, France, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA (Latin America, Middle East, Africa)

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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Blockchain Press Releases

Bitget To List Carbon Browser (CSIX) in Spot Market and Innovation Zone




VICTORIA, Seychelles, Dec. 1, 2023 /PRNewswire/ — Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the listing of CSIX, the native token of Carbon Browser – one of the fastest WEB3 browsers. The WEB3 browser token CSIX will be listed on Innovation Zone and Web3 Zone to expand Bitget’s spot trading spectrum, offering its users access to emerging and community-driven digital assets.

Carbon Browser is an open-source, fast, private and secure Web3 browser developed by Carbon Browser X Labs. Launched in 2016 the product is developed on a customized version of Chromium, offering faster web browsing and better user security protection. Users can utilise their privacy-first features such as protection against ad-tracking, and higher performance with fast page loading, along with access to built-in crypto wallet and more. The browser has been designed to be user-friendly and accessible even to crypto beginners.

Carbon Browser is working on delivering an extensive WEB3 browser experience with integrated wallet, ability to store cryptocurrencies, swap and bridge functionalities. This includes Web3 applications such as crypto exchanges, NFT marketplaces, dApps, as well as Web2 applications such as ChatGPT.

“In the quest of providing easy access to high potential crypto ecosystems, we’re focused on listing projects with real-world use cases. In this era of intense computer usage, browsers that give better output and performance will accelerate web3’s adoption. With these types of listings, we provide a broader range of use cases for emerging tokens in Bitget’s ecosystem,” said Gracy Chen, Managing Director at Bitget.

Deposits for CSIX tokens are open now and trading in the spot market of the platform will be available from 11:00 December 4 (UTC). Upon listing, users can trade CSIX with 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. To buy trending and newly listed tokens such as CSIX users can use debit/credit cards, bank transfers and other multi-currency payment methods.  For more information on trading CSIX, please visit the official announcement.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 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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Blockchain Press Releases

Institutions Have Doubled their Bitcoin Allocations this Year, New Bybit Report Shows




DUBAI, UAE, Dec. 1, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, has released new research offering analysis of how traders adapt their strategies in fluctuating market conditions. “Navigating Bull and Bear Markets — A Dive Into Asset Allocation,” uses Bybit’s proprietary data and is the first initiated by a crypto exchange.

The report provides a detailed examination of asset allocation strategies employed by different cohorts — institutions, VIPs, and retail traders — especially in the volatile market environment since December 2022.

Key findings include:

  • Institutional Investors: Predominantly holding 45% in stablecoins, 35% in Bitcoin, and 15% in Ether, institutions emphasize liquidity and strategic diversification. Notably, their Bitcoin holdings nearly doubled in the first three quarters of 2023.
  • Ether Trends: A decline in institutional interest in Ether has been noted, although upcoming market developments, like the rumored BlackRock spot Ether ETF, could shift the trend.
  • Retail Trader Behavior: Retail traders are observed to hold more stablecoins, suggesting a more cautious allocation to riskier assets compared to traditional finance norms.
  • Altcoin Investments: Both retail and VIP traders show higher altcoin holdings than institutional investors, although these remain a minor part of total portfolios, indicating caution, perhaps due to a hangover from the recent bear market.

“This report is a testament to Bybit’s commitment to empowering our users with actionable insights,” said Ben Zhou, co-founder and CEO. “Understanding how different market participants navigate the complexities of bull and bear markets is crucial. We believe this research will not only enlighten our traders but also contribute to the broader crypto community’s understanding of market dynamics.”

Read the full report here.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit:
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube

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Blockchain Press Releases

Set Sail on a Crypto Voyage: Bybit Announces ByBUIDLERs Cruise Contest to Dubai in Partnership with Sea Summit




DUBAI, UAE, Dec. 1, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, is excited to announce the ByBUIDLERs Cruise Contest, an extraordinary opportunity for crypto enthusiasts in India. This contest offers a chance to win a luxurious 10-day cruise from Mumbai to Dubai, coupled with an exciting Sea Summit experience and a visit to Bybit’s Dubai office.

Introducing ByBUIDLERs

ByBUIDLERs is Bybit’s initiative that combines grassroots enthusiasm with the thrilling world of cryptocurrency. Designed for crypto aficionados, the program invites participants to engage with the community, create compelling content, and contribute to Bybit’s growth and outreach.

Participation Steps

  • Enlist as a ByBUIDLER: To join, provide your name, email, and social media profile link. Express in 100 words your excitement about becoming a ByBUIDLER via our Google form.
  • Take the Bybit 5th Anniversary Personality Quiz: Complete the personality quiz and share your results on social media, highlighting how your personality influences your crypto journey.
  • Participants must post their entries before December 6th, tagging @Bybit and @TheSeaSummit, using the hashtags #ByBUIDLERcruisetrip and #High5Bybit.


The top five most creative ByBUIDLERs, judged by their engagement and creativity, will embark on the Sea Summit 10-day luxury cruise, setting sail from Mumbai to Dubai. The cruise is also a crypto summit where winners will meet leaders in crypto, participate in educational events, and attend themed party nights.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For media inquiries, please contact: [email protected]

For more information please visit:

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube

Bybit Logo

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