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The Business Research Company’s Silicon Carbide Semiconductor Device Global Market Report 2024 offers crucial insights into the silicon carbide semiconductor device market help businesses analyse and build stronger strategies.

The silicon carbide semiconductor device market has witnessed remarkable growth in recent years. Key factors driving this growth include:

• Early development in silicon carbide (SiC)
• Demand for high-temperature applications
• Evolution in power electronics
• Telecommunications and RF applications
• Military and aerospace applications

Current Market Landscape
In 2023, the market size stood at $1.59 billion, set to reach $2 billion in 2024, with a compound annual growth rate (CAGR) of 25.2%. Looking ahead, by 2028, it is projected to grow to $4.52 billion at a CAGR of 22.7%. Major growth drivers and segments in the forecast period include:

• Growth in electric vehicles (EVs)
• Expansion of renewable energy
• Deployment of 5G networks
• Industrial and motor drives
• Power transmission

Read The Full Silicon Carbide Semiconductor Device Market Report Here:
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Rising Demand For Electric Vehicles To Drive Market Growth
The surge in demand for electric vehicles (EVs) is a significant catalyst for the silicon carbide semiconductor device market:

• Higher power densities and switching efficiency make SiC beneficial in EV powertrains.
• Sales of EVs nearly doubled in 2021, reaching 6.6 million units, with projections of over 300 million electric cars on the road by 2030.
• Major companies capitalizing on this trend include Infineon Technologies, ROHM Co. Ltd., STMicroelectronics, and more.

Technological Advancements Driving Innovation

Technological advancements are at the forefront of market growth:

• Companies like AIXTRON are launching next-generation systems, like the G10-SiC 200 mm, to meet evolving demands.
• Navitas’ acquisition of GeneSiC Semiconductor for $100 million strengthens its position in next-generation power semiconductors.

Market Segmentation

The silicon carbide semiconductor device market is segmented by type, wafer size, and end-user:

1. By Type: SIC Diode, SIC Transistor, Other Types
2. By Wafer Size: 1 Inch To 4 Inches, 6 Inches, 8 Inches, 10 Inches And Above
3. By End-User: Automotive, Consumer Electronics, Aerospace And Defense, Medical Devices, Data And Communication Devices, Energy And Power, Other End-Users

Regional Insights
Asia-Pacific led the silicon carbide semiconductor device market in 2023, indicating the region’s significant role in shaping market trends and developments.

Conclusion
The silicon carbide semiconductor device market is on a trajectory of unprecedented growth, driven by technological innovation and the evolving needs of various industries. With electric vehicles, renewable energy, and 5G networks leading the way, the future promises exciting opportunities for players in this dynamic market.

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The Silicon Carbide Semiconductor Device Global Market Report 2024  provides a comprehensive outlook of the silicon carbide semiconductor device market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The silicon carbide semiconductor device market forecast offers a thorough analysis on silicon carbide semiconductor device market size, silicon carbide semiconductor device market share, prominent players and their strategies.

The Table Of Content For The Silicon Carbide Semiconductor Device Market Include:
1. Silicon Carbide Semiconductor Device Market Executive Summary
2. Silicon Carbide Semiconductor Device Market Segments
3. Silicon Carbide Semiconductor Device Market Size And Silicon Carbide Semiconductor Device Market Growth Rate
4. Key Silicon Carbide Semiconductor Device Market Trends
5. Major Silicon Carbide Semiconductor Device Market Drivers
……
25. Key Mergers And Acquisitions In The Silicon Carbide Semiconductor Device Market
26. Top Silicon Carbide Semiconductor Device Companies
27. Silicon Carbide Semiconductor Device Market Opportunities And Strategies
28. Silicon Carbide Semiconductor Device Market, Conclusions And Recommendations
29. Appendix

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