The global insulated gate bipolar transistor (IGBT) market size is projected to reach USD 9.90 billion by the end of 2026. Technological advancements have played a huge role in the growth of the market in recent years. According to a report published by Fortune Business Insights™ titled, “Insulated Gate Bipolar Transistor (IGBT) Market Size, Share & Industry Analysis, By Voltage (Low Voltage, Medium Voltage, and High Voltage), By Application (Consumer Electronics, Industrial Manufacturing, Automotive (EV/HEV), Inverters/UPS, Railways, Renewables, Others) and Regional Forecast, 2019-2026,” the market was worth USD 4.92 billion in 2018 and will exhibit a CAGR of 9.2% during the forecast period, 2019-2026.

Insulated gate bipolar transistor is a voltage-operated power electronic device that is used in electronic circuits for several applications. Recent technological advancements have allowed diverse applications. The high investment in the development and integration of IGBTs into electronic circuits will bode well for the market. Moreover, technologies such as AI and IoT have opened up a wider scope for applications. The increasing applications of IGBT across industries such as switch-mode power supplies (SMPS), UPS, and motor drive inverters will create several growth opportunities for the companies operating in the market. The presence of several large scale companies will have a positive impact on the growth of the overall market. The use of IGBT in electric vehicles and the increasing production of these vehicles will lead to a wider product adoption across the world.

Source: Fortune Business Insights