The global power electronics market size was valued at USD 52.70 billion in 2022. The market is projected to grow from USD 61.94 billion in 2023 to USD 153.30 billion by 2030, recording a CAGR of 13.8% during the forecast timeframe of 2023-2030.
The global market is estimated to grow at a notable pace as these devices are being extensively used in several sectors such as aerospace, automotive, defense, residential, healthcare, space, and industrial.
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