What Are the Key Applications Driving Growth in the Power Electronics Market Worth $59.7 Billion by 2031?
The power electronics market is set to surpass $59.7 billion by 2031, growing at a CAGR of 4.9% between 2024 and 2031. This growth is largely propelled by the rising demand for power electronics in consumer electronics, renewable energy, and the automotive sector. The growing need for efficient energy management, especially in electric vehicles (EVs)…