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, ...