- China dominated the wide band gap semiconductor market in Asia Pacific in 2018
- The wide band gap semiconductor market in the country is expected to expand at a prominent CAGR during 2019 to 2027
- The hybrid/electrical vehicles application segment is expected to lead the global wide band gap semiconductor market and expand at a high CAGR
According to a new research report by Transparency Market Research pertaining to the wide band gap semiconductor market, the global wide band gap semiconductor market is expected to reach a value of US$ 3 billion by 2027, expanding at a CAGR of 22 per cent from 2019 to 2027.
According to the report, the global wide band gap semiconductor market would continue to be influenced by a range of macroeconomic and market-specific factors during the forecast period.
Asia Pacific is expected to hold the maximum share of the global wide band gap semiconductor market during the forecast period, owing to the early adoption of wide band gap semiconductors in the region. Asia Pacific and North America account for a considerable market share. These regions are projected to provide lucrative opportunities to the wide band gap semiconductor market during the forecast period.
China dominated the wide band gap semiconductor market in Asia Pacific in 2018. The wide band gap semiconductor market in the country is expected to expand at a prominent CAGR during 2019 to 2027. Different government organizations across Asia Pacific are increasing their spending on research & development for advanced power semiconductor devices.
This, in turn, is expected to boost the wide band gap semiconductor market in the region. Moreover, rise in the demand for electric vehicles and high interest for 5G supported devices are some of the major drivers that are likely to propel the wide band gap semiconductor market during the forecast period.
The report provides the profiles of leading players operating in the global wide band gap semiconductor market. These are Cree, Inc., GeneSiC Semiconductor Inc., Infineon Technologies AG, Panasonic Corporation, ST Microelectronics N.V., ON Semiconductor, ROHM Semiconductor, OSRAM Opto Semiconductors GmbH, TT Electronics, Qorvo, Inc., and Broadcom Inc.
