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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.


David Correa
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#205, Portland, OR 97220
United States
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Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet




Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.


The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.


The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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TON Blockchain Surpasses Ethereum in Daily Active Users




Ethereum’s comparative underperformance relative to TON can be attributed to several factors, notably the migration of a significant portion of its user activity to layer 2 scaling solutions. These solutions were not factored into the comparison with TON.

During a week marked by global crypto market fluctuations and cautious investor sentiment, The Open Network (TON), backed by Telegram, has seen substantial growth in user activity, surpassing Ethereum in daily active users.

Since the beginning of the month, TON and Ethereum have been closely vying for user engagement. However, leveraging Telegram’s extensive user base of 900 million, TON has consistently outpaced Ethereum for ten consecutive days starting June 1.

On June 3, TON achieved a significant milestone with 568,300 daily active addresses (DAAs), according to Artemis data. In contrast, Ethereum has not reached this level of activity since September 13, 2023.


Delving Deeper
Ethereum’s apparent lower activity compared to TON can be attributed to various factors, including the adoption of layer 2 scaling solutions designed to enhance transaction throughput and reduce fees by processing transactions off the main Ethereum blockchain.

Consequently, the majority of Ethereum’s transactional activities have shifted to these layer 2 networks.

For instance, on June 11, the top three Ethereum layer 2 networks—Arbitrum, Base, and Optimism—collectively registered 1.3 million daily active addresses. This highlights that while Ethereum’s primary network may appear less active, substantial transactional volume is occurring on these secondary layers.

New Milestones and Market Performance
Despite the challenges of comparing directly with Ethereum, TON has demonstrated significant growth. Amidst the recent global market volatility, the network’s native token, Toncoin (TON), reached a milestone of $7.76 earlier this month, marking its highest valuation since launch.

Although Toncoin has since experienced a decline of over 12%, industry analysts remain optimistic about its future trajectory.


A pseudonymous analyst, “Crypto King,” has forecasted a potential rise to $10 for TON in the near term, citing its robust user base, rapid infrastructure development, and Telegram’s support.

Another expert, Alex Clay, shares this positive outlook, suggesting short-term price targets of $10.5 to $11.6 for TON despite broader market downturns.

Furthermore, data from Token Terminal indicates promising long-term indicators for TON, showing a 3.6% rise in fully diluted market capitalization, a 76.3% increase in token holders, and a 26.0% growth in revenue and fees over the past 30 days.

Despite a slight decrease in trading volume by 11.6%, these metrics underline a strong underlying growth trend for TON.



The post TON Blockchain Surpasses Ethereum in Daily Active Users appeared first on HIPTHER Alerts.

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Brickken is selected to participate in the European Blockchain Regulatory Sandbox




Brickken, a startup based in Barcelona at the forefront of real-world asset tokenization, has been chosen to participate in the European Blockchain and Distributed Ledger Technologies (DLT) Regulatory Sandbox. This initiative aims to establish legal clarity for decentralized technologies like blockchain by identifying legal and regulatory hurdles to deployment. It will provide confidential guidance, legal counsel, and regulatory expertise.

Facilitated by the European Commission, this program will enable regulators to deepen their understanding of cutting-edge blockchain technologies and foster dialogue between public institutions and private entities such as Brickken.

By joining the European Regulatory Sandbox, Brickken gains the opportunity to refine and enhance its solutions within a secure environment. This will bolster its credibility with institutional clients, market operators, and bond issuers, facilitating its expansion into new markets. Brickken seeks to become a strategic partner for various participants in capital markets, enhancing operational efficiency and promoting technological synergy in digital asset management.

Edwin Mata, CEO and co-founder of Brickken, expressed excitement about this selection, emphasizing:


“This opportunity validates our innovative approach to asset tokenization and allows us to collaborate closely with regulators and industry leaders to strengthen the blockchain ecosystem. The knowledge and experience gained in this regulatory sandbox will be invaluable for our future growth and success.”

Brickken’s inclusion in this sandbox marks a significant milestone in its mission to revolutionize the tokenization industry. Recently selected for PricewaterhouseCoopers’ Scale program for tokenization and digital assets, Brickken continues to advance blockchain adoption among institutional clients, banks, and capital markets. Additionally, the company has forged partnerships with industry leaders like Psalion and Chainlink, known for their real-world asset tokenization technology.

In collaboration with Coinbase, Brickken aims to set new standards in infrastructure and market structure for real-world asset tokenization. Leveraging Coinbase’s technology such as Wallet and Base, Brickken brings its expertise in tokenization and technology to build robust solutions.

Established in Barcelona in 2020 by Edwin Mata, Yassir Haouati, Bram Duindam, and Dario Lo Buglio, Brickken has experienced rapid growth, operating in over 14 countries and tokenizing assets exceeding 200 million euros. With a client base of over 50, the company has achieved over 100% growth compared to the previous year and is expanding into new verticals.

Brickken’s digital asset platform specializes in tokenizing financial instruments such as equity and debt, catering to entities of all sizes, asset types, and jurisdictions. Offering robust technological support, Brickken enables market entry without the need for proprietary technology development. This positions Brickken to serve diverse sectors including real estate, startups, institutions, venture capital funds, and family offices, facilitating efficient digitization and management of assets.



The post Brickken is selected to participate in the European Blockchain Regulatory Sandbox appeared first on HIPTHER Alerts.

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