The market for power electronics will reach over $100 billion in 2020 led by applications including renewables, transportation and on-grid T&D. Power electronics is the key technology to build the next generation of electrical energy systems to support the major trends in renewables & electric vehicle integration and the creation of the smart grid. Trends in electricity conversion are driving technologies and materials that enable smaller, distributed, more efficient devices.
To profit from these rapidly evolving markets, companies need to:
- Identify emerging technology developers and recognize those with high potential
- Sort through numerous potential applications to see where adoption will occur first
- Evaluate where LED and power electronics technologies converge and diverge
- Assess unmet needs to find opportunities
- Establish realistic cost, pricing, efficiency, and adoption projections
- Rely on credible market sizes and forecasts