Power electronics is the use of solid-state electronics to the control and conversion of electric power from the source to the load in an efficient and appropriate mode. The factors that propel the growth of the global Power Electronics market research report includes growing demand for energy-efficient battery-powered portable devices, increasing trend of energy harvesting technologies, improvement of power infrastructure, and the rising emphasis on using renewable power sources.
The power electronics market was valued at USD 36.93 Billion in 2017 and is expected to reach USD 51.01 Billion by 2023, at a CAGR of 5.5% during the forecast period.
