LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global IGBT market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Insulated gate bipolar transistor (IGBT) is a semiconductor power device that is used to control electrical energy. It provides a stable supply of electricity by reducing the congestion in power supply, leading to optimized power utilization.
According to Sunil Kumar Singh, a lead analyst at Technavio for embedded systems research, “The global IGBT market is expected to grow at a CAGR of close to 12% during the forecast period. This double-digit growth is expected mainly due to the increased need and adoption of power-saving devices and high investments by governments to achieve optimum solutions for increasing power consumption.”
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The top three emerging market trends driving the global IGBT market according to Technavio research analysts are:
- Functional consolidation of semiconductor devices
- Increase in use of renewable energy sources
- Increased copper wire interconnections
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Functional consolidation of semiconductor devices
The trend toward digitalization can be seen in industries that push digital control of power to make power inverters, drive controls, and other electrical equipment compatible to Industrial Internet. As a result, the integration of other semiconductor components such as sensors, ICs, and microcontrollers with IGBT devices can enable efficient and easier control leading to improvements in performance and advances in semiconductor devices including IGBTs.
The integration of these devices will provide a lot of insights in the form of data, which can be analyzed to detect potential key areas for improvements in applications as well as in semiconductor devices. This will enhance the performance of semiconductor devices such as IGBTs, and these devices can be made more useful and efficient by addressing issues arising from analyzed data.
Increase in use of renewable energy sources
The global need to foster renewable energy sources will speed up the growth in the IGBT market. Renewable energy will produce more than one-fourth of the global gross power generation in the next five years. Governments across several countries are making renewable energy a part of their long-term strategies for development.
Also, the costs of renewable sources like solar and wind energy have dropped by more than 50% over the past decade because of the technological improvements and economies of scale. This tremendous implementation of renewable electricity sources is inducing opportunities of business for IGBT.
“The major players in the IGBT market like Infineon Technologies and Fuji Electric have designed IGBT products specifically for renewable energy sources, seeing the potential opportunity in the market. These products play a major role in minimizing power loss and make the products compact, efficient, and durable. Renewable energy products are expected to constitute a major portion of these vendors' revenues in the coming years,” says Sunil.
Increased copper wire interconnections
The use of copper wire bonding for semiconductor packages has seen a steady evolution in the recent years. Due to the increased demand for high power solutions for electronic applications such as electric vehicles, industrial drives, rail traction, and renewable energy sources like offshore wind farms, copper wire interconnections are used in power semiconductor devices. Copper wire offers better performance in terms of thermal conductivity and durability and provides higher melting temperature than aluminum wire bonding.
Earlier, chip manufacturers depended on gold wiring as it was easy to use gold for wire bonding due to its softness and sufficient electrical conductivity, whereas copper wire bonding is technically more challenging. However, copper has lower electrical resistance than gold, and its conductivity is considerably higher than gold, which results in higher performance. Also, copper is cheaper than gold. Copper wire bonding provides better performance, particularly in high current products. Thus, the use of copper wire for interconnections will grow at a remarkable pace and will have a strong positive effect on the growth of the IGBT market.
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