According to a new research report published by Transparency Market Research (TMR) the global discrete diodes market is expected to reach a value of ~US$ 6.6 Bn by 2027, expanding at a CAGR of ~6% from 2019 to 2027. According to the report, the global discrete diodes market is likely to continue to be influenced by a range of macroeconomic and market-specific factors in the next few years.
In terms of demand, North America is projected to continue to lead the global discrete diodes market, with the market in the region expanding at a CAGR of ~7% between 2019 and 2027.
Global Discrete Diodes Market: Overview
- The global discrete diodes market is expected to be driven by the increasing demand for advanced electronics in various industries, and the demand for discrete diodes for use in electric cars and plug-in hybrid electric cars. The rising demand for better and innovative electronic appliances is anticipated to boost the global discrete diodes market throughout the forecast period.
- Increasing awareness about the adverse effects of using petrol- and diesel-powered vehicles on the environment has resulted in advancements in the automotive industry, in the form of electric vehicles and hybrid electric vehicles. Increasing demand from consumers for electric cars and hybrid electric cars is expected to drive the demand for discrete semiconductors in the automotive industry in the near future. With increased adoption of discrete diodes in electric cars, companies are introducing fresh-traction inverter diodes for use in electric cars, as these diodes are significant elements that can convert battery energy from direct current.
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- The power diodes segment is expected to dominate the global discrete diodes market during the forecast period, owing to the high adoption of power diodes as rectifier diodes, voltage multipliers, and freewheeling diodes, worldwide.
Communications Application Prominent in Global Discrete Diodes Market
- With the increasing shipments of smartphones and tablets across the globe, the global communications sector is anticipated to expand at a high CAGR in the discrete diodes market during the forecast period.
- Discrete diodes, such as laser diodes, are preferred for use in communication applications, as they are easy to modulate. Also, they are used for high-speed data transmission.
- The communications segment held 49.5% share of the global discrete diodes market, in terms of revenue, in 2018.
- The consumer electronics segment is projected to witness robust growth throughout the forecast period, due to the rising usage of portable electronics devices and growing number of consumer applications, worldwide. Additionally, manufacturers are continuously upgrading their products in terms of design, processing power, power consumption, and user interface in order to gain higher market share.