Power Electronics Market, Market Size, Outlook, Trend and Forecast Global Power Electronics Market

Global Power Electronics Market is Expected to Reach $27 Billion by 2024,
Says Variant Market Research
Global Power Electronics Market Report, published by Variant Market Research,
forecast that the global market is expected to reach $27 billion by 2024 from $14
billion in 2016; growing at a CAGR of 8.6% from 2016 to 2024. By geography, Asia-
Pacific and Europe are expected to grow at a CAGR of 9.2% and 8.8%, respectively,
during the forecast period. Some of the major drivers of global power electronics
market are rise in adoption of power electronics in electric vehicles, and
aggrandized need for power management devices. Additionally, enhanced
efficiency and improved durability of power electronics is also boosting the market
growth. However, current leakage at high temperature would act as a restraint for
the market. Government initiatives in smart grid and HVDC are expected to
generate several growth opportunities for the market in the upcoming years.
Browse Complete Report @ https://www.variantmarketresearch.com/report-
categories/semiconductor-electronics/power-electronics-market