The Global Power Electronics Market is projected to reach USD 63.75 billion by 2028, at a CAGR of 5.

The huge rise in the use of power devices across the broad spectrum of industries is expected to propel power electronics market growth during the forecast period. Power electronics is the use of solid state electronics to control and convert electrical power. Power electronics systems can be classified as rectifiers (AC to DC), inverters (DC to AC), choppers (DC to DC), and converters (AC to AC). Power systems transmit electrical power over long distances compensating for attenuation and distortions along the way. However, without the use of power devices, it will be an impossible to distribute electrical power across a huge area.

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