Increased demand for power semiconductors

The advancement of technology and the promotion of the "double carbon" policy for energy conservation and environmental protection at the policy end, the rapid development of new energy vehicles and their charging piles, the Internet of Things, new energy power generation, data centers, industrial control and other fields have driven the market demand for power semiconductors. According to Omdia statistics, the global power semiconductor market size in 2020 is 43 billion U.S. dollars, and it is expected that the power semiconductor market will increase to 53.8 billion U.S. dollars in 2024, with a CAGR of about 5%. During the same period, the scale of domestic power semiconductors has steadily increased. In 2024, the domestic power semiconductor market will be close to 30 billion US dollars.