Strategic Partnerships and New Technology Launches to Scale Up Power Electronics Systems Demand

 


The need for improving energy performance, reducing power consumption, and demand for sustainable technologies drives the penetration of power electronics systems across the globe. Governments across the globe are focusing on energy harvesting and reduction of fuel emissions from vehicles. Hence, they are promoting the production and use of electric and hybrid vehicles. Moreover, smart power electronics systems have immense applications in electric and hybrid vehicles. This will drive the demand for power electronics. The autonomous vehicle has become a current trend and a catchphrase in the automotive industry. Hence, players in the automotive industry are focusing on producing autonomous vehicles, thereby generating a huge demand for smart power electronics systems. The Industrial 4.0 revolution will leverage demand for power electronics in automotive, consumer electronics, utilities, military & defense, and power & energy sectors. As per Allied Market Research Report, the global power electronics market is expected to accrue $43.7 billion by 2031. Following are some of the activities taking place across the globe. Following are some of the events witnessed across the power electronics market.

The launch of new technologies has played a key role in influencing the expansion of the portfolio of industry players along with business expansion. Magna-Power Electronics, a key producer of programmable power products, declared the launch of a new e-commerce tool with the completely customized product configurations. Moreover, the new tool supports Magna’s programmable power product portfolio. Furthermore, STMicroelectronics, a semiconductor manufacturing firm, launched new smart power electronics for electric vehicles. Reportedly, the firm launched a new family of ST intelligent and gallium nitride solutions referred as STi2GaN.  Building on STMicroelectronics’ smart power electronics expertise, the STi2GaN family integrates power and intelligence in compact and high-performance solutions for the automotive industry, which is shifting towards electrified platforms.

Continuing with the trend of the new product launches, Infineon Technologies AG launched a battery-powered smart alarm system, an artificial intelligence-based acoustic event detection tool. Reportedly, the new technology tool achieves high accuracy and very low-powered functioning through the use of a sensor fusion alarm system based on artificial intelligence. The strategic move is aimed at the use of these technologies in smart buildings & households and IoT applications. The initiative is aimed at improving the battery life of smart alarm systems.

Strategic partnerships will help industry players in adding new features to their products and earn huge revenues. Renault Group entered a strategic partnership with STMicroelectronics with a focus on providing advanced power electronic systems for next-gen electric and hybrid automotive. As per the partnership agreement, STMicroelectronics will supply advanced power semiconductors to hybrid and electric vehicles of Renault Group by 2026. Reportedly, STMicroelectronics is set to manufacture customized power electronics systems for electric and hybrid vehicles of Renault, thereby increasing vehicle efficiency. The strategic move is aimed toward the de-carbonization of the mobility industry by achieving energy efficiency through the integration of advanced power electronics systems in vehicles.

Apart from this, a large number of firms in the power electronics business are competing with each other to gain a huge chunk of market share through new product and technology launches, strategic alliances, joint ventures, mergers & acquisitions, and capacity expansions. All these strategies adopted by firms will help in fulfilling the immense demand for power electronics products across various industries in near future.

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