Power electronics market to grow at 10% CAGR from US$25.5bn to US$65.2bn by 2036

Since the development of power diodes and thyristors in the 1950s, silicon has been the dominant material for power electronics across applications ranging from electric vehicles to wind turbines. However, the emergence of wide-bandgap semiconductors such as silicon carbide (SiC) and gallium nitride (GaN) has enabled industry to push to higher voltages and smaller form factors while increasing efficiency and maintaining reliability. At the same time, early-stage research into the next generation of semiconductor materials, ultrawide-bandgap (UWBG) semiconductors, threatens to disrupt this space further...