
The power semiconductor market will experience growth that can be attributed to the growing demand from the automotive sector. The trend of self-driving, green, and connected cars will propel the demand for these semiconductors. The rise in the number of electric vehicles coupled with the need for fuel-efficient systems will support the market growth. There is a fast growth in the sale of hybrid and electric vehicles owing to the growing environmental concerns. Power devices find applications in anti-lock braking systems, electric power steering, tire pressure monitoring, and electronic stability control. Advanced Driver Assistance Systems (ADAS) will see a fast adoption of cameras, sensors, and interconnectivity systems in cars thereby propelling the power semiconductor market.