Future of Power Electronics from TCAD Perspective

Power electronics are an integral part of our daily life. The applications of power electronics are widespread, supporting multiple industries such as automotive, telecommunication, transportation, utility systems, aerospace, etc. According to a new market research report including the analysis of the COVID-19 impact [1], the global power electronics market is expected to grow at a Compounded Annual Growth Rate (CAGR) of 4.7% from $35.1 billion in 2020 to $44.2 billion by 2025. As depicted in Figure 1, the key drivers of growth are 1) increasing integration of power electronics, and 2) increasing use of wide bandgap (WBG) materials. In terms of regional growth, Asia Pacific (APAC) including China, Japan, South Korea, and India is expected to grow the fastest compared to North America, Europe, and Rest of the World (Figure 2).