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SiC & GaN Power Semiconductor Market Accelerates at 22.9% CAGR to Reach $11.08 Billion by 2034 | Fact.MR

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Quest of End-use Industries to Reduce Carbon Footprint Driving Demand for Energy-Efficient SiC & GaN Power Semiconductors

ROCKVILLE, Md., May 27, 2024 /PRNewswire/ — According to a new industry report by Fact.MR, the global SiC & GaN Power Semiconductor Market is expected to reach a valuation of US$ 1.41 billion in 2024. It is projected to achieve $11.08 billion by 2034, growing at a CAGR of 22.9% from 2024 to 2034.

SiC & GaN power semiconductors are transforming the electronics sector by overcoming the limited features offered by conventional silicon-based semiconductors. SiC & GaN power semiconductors are energy efficient and have thermal tolerance. These characteristics make SiC & GaN power semiconductors ideal for high-temperature and high-frequency applications. These semiconductors are finding extensive use in the automotive, renewable energy, industrial, and consumer electronics sectors.

For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=381

In the automotive sector, SiC & GaN power semiconductors are used in the manufacturing of energy-efficient elective and hybrid vehicles. Due to their effective energy conversion ability, SiC & GaN power semiconductors in industrial settings are used in renewable energy inverters and motor drives. Ongoing research and development activities across the world are set to enhance the features of SiC & GaN power semiconductors even more over the coming years.

Key Takeaways from the Market Study:

The market for SiC & GaN power semiconductors in the United States is evaluated at $149.9 million in 2024.Japan is set to hold 29.4% of the East Asia market share by 2034.The China market is approximated at US$ 154.4 million in 2024.SiC power module sales are forecasted to reach US$ 3.64 billion by 2034.

“Miniaturization trend in consumer electronics a key factor driving high demand for SiC & GaN power semiconductors,” says a Fact.MR analyst.

Innovation and Acquisition Prime Tactics to Enhance Product Offerings

The global SiC & GaN power semiconductor market is highly competitive. Industry giants are adopting product expansion strategies such as mergers and acquisitions. Acquisition or merger into another company is aiding companies in increasing their product offerings and market reach.  

In October 2023, Infineon Technologies AG declared the acquisition of GaN Systems Inc.In 2023, Japan’s deep-tech company Flosfia started offering next-gen power chips made from gallium oxide. These high-performance gallium power chips allow EVs to travel farther.

Regional Dynamics: SiC & GaN Power Semiconductors in Automotive and Renewable Energy Sectors

SiC and GaN power semiconductors have become integral to automotive manufacturing in the United States, spurred by stringent regulations governing vehicle safety and greenhouse gas emissions. As automakers strive to incorporate fuel-efficient components into their vehicles, the adoption of SiC and GaN power semiconductors has surged in automotive system production. Their high energy efficiency plays a crucial role in enhancing the performance of electric vehicle power trains.

Meanwhile, China stands out as a major hub for semiconductor manufacturing. The nation’s robust production capabilities and extensive export of consumer electronics have fueled the demand for SiC and GaN power semiconductors. Additionally, the increasing popularity of renewable energy sources like solar panels and distributed energy storage systems has propelled the use of SiC and GaN power semiconductors in the production of these systems. Moreover, the growing trend of industrial automation has further fueled the growth of the SiC and GaN power semiconductor market in China.

Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=381

High Demand for SiC Power Module Technologies:

Among the array of materials utilized in power module semiconductors, silicon carbide stands out as the most prevalent. This distinction arises from SiC’s remarkable capability to minimize energy loss during power conversion processes. This inherent advantage translates into reduced reliance on expensive cooling systems, making SiC semiconductors an increasingly appealing choice for semiconductor purchasers.

This trend underscores the projection that the demand for SiC power modules will continue to surge over the next decade. Another notable advantage of SiC power modules is their exceptionally low switching loss, particularly in applications like metal-oxide-semiconductor field-effect transistors (MOSFETs), EV chargers, and solar inverters. This technological supremacy further bolsters SiC power module manufacturers as they broaden their product offerings and market presence.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global SiC & GaN power semiconductor market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on material (SiC, GaN), component (SiC power modules, GaN power modules, discrete SiC power devices, discrete GaN power devices), and application (power supplies, wireless charging, power storage, hybrid & EV components, HEV charging equipment, motor drives, PV inverters, traction motor components, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

Check Out More Related Studies Published by Fact.MR Research:

https://www.factmr.com/report/4581/silicon-carbide-market

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About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive. 

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Accord Specialty Pharmacy Named Finalist in MMIT’s 11th Annual Retail Specialty Pharmacy Patient Choice Awards

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ORLANDO, Fla., April 23, 2026 /PRNewswire/ — Accord Specialty Pharmacy, an independent specialty pharmacy serving patients across multiple states, has been named a finalist in the MMIT Patient Choice Awards, a recognition based on patient-reported satisfaction and experience.

Accord was selected as the only independent pharmacy among finalists in its category, alongside national pharmacy organizations such as Walgreens Specialty Pharmacy and Walmart Specialty Pharmacy. This distinction highlights the company’s commitment to delivering personalized, high-touch care for patients managing complex and chronic conditions.

The MMIT Patient Choice Awards recognize specialty pharmacies that demonstrate excellence in patient satisfaction, service quality, and overall care experience. Finalists are determined based on direct patient feedback, making the recognition a meaningful reflection of the trust patients place in their pharmacy providers.

“Being recognized alongside national organizations and as the only independent finalist validates our belief that personalized, patient-centered care drives better outcomes. We are building a model that combines clinical depth, national reach, and operational flexibility to better serve patients, providers, and partners.” said AJ Patel, Founder and Pharmacy Manager of Accord Specialty Pharmacy.

Accord Specialty Pharmacy supports patients across complex specialty categories, including oncology, rare disease, and infusion, through a clinically driven, high-touch care model designed to improve access, adherence, and outcomes. The company’s approach emphasizes personalized support, responsive care coordination, and strong clinical engagement to help patients navigate complex therapies more effectively. With a growing national footprint and multi-state licensure, Accord is positioned to support patients, providers, and partners across diverse markets.

For more information, visit MMIT Announces Finalists of the 11th Specialty Pharmacy Patient Choice Awards – MMITNetwork.

About Accord Specialty Pharmacy:

Accord Specialty Pharmacy is an ACHC-accredited, multi-state licensed independent specialty pharmacy located in Central Florida, dedicated to delivering high-quality, patient-centered care for individuals managing complex and chronic conditions. Through personalized support, clinical expertise, and a high-touch approach, Accord helps patients navigate every step of their treatment journey. Learn more at www.accordspecialty.com.

CONTACT: contact@accordspecialty.com

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SOURCE Accord Specialty

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HAIVISION ANNOUNCES VOTING RESULTS FROM 2026 ANNUAL MEETING OF SHAREHOLDERS

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MONTRÉAL, April 23, 2026 /CNW/ – Haivision Systems Inc. (“Haivision” or the “Company”) (TSX: HAI) is pleased to announce the voting results from its annual meeting of shareholders held today in a virtual format.

A total of approximately 45.97 % of the issued and outstanding common shares of Haivision were represented at the meeting.

Election of Directors

Each of the six nominated directors of Haivision was elected as director of the Company with the following results:

Director

Votes
For

% Votes
For

Votes
Against

% Votes
Against

Miroslav Wicha

11,110,245

99.26 %

82,583

0.74 %

Harvey Bienenstock

11,155,137

99.66 %

37,691

0.34 %

Robin M. Rush

11,121,855

99.37 %

70,973

0.63 %

Neil Hindle

10,794,005

96.44 %

398,823

3.56 %

Julie Tremblay

10,941,969

97.76 %

250,859

2.24 %

Lee K. Levy II

9,084,418

81.16 %

2,108,410

18.84 %

2.   Appointment of Auditors

Deloitte LLP were reappointed auditors of the Company for the ensuing year with 12,492,582 (98.84%) votes cast in favour and 146,406 (1.16%) votes withheld.

3.   Approval of the Unallocated Awards under the Company’s Equity Incentive Plan

The Company’s unallocated awards were approved with 8,710,347 (77.82%) votes cast in favour and 2,482,481 (22.18%) votes cast against.

4.   Reapproval of Company’s Shareholder Rights Plan

The Company’s shareholder rights plan was approved with 10,572,490 (94.46%) votes cast in favour and 620,338 (5.54%) votes cast against.

Final voting results on all matters voted on at the meeting will be filed under Haivision’s profile on SEDAR+ at www.sedarplus.ca.

About Haivision

Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at haivision.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/haivision-announces-voting-results-from-2026-annual-meeting-of-shareholders-302752318.html

SOURCE Haivision Systems Inc.

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Noritz upgrades EZ Pro Series of tankless water heaters with larger, multi-function panel display for faster installation and servicing

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Improved, fully integrated diagnostic interface eliminates the need for a separate remote controller, providing key system status data and enhanced digital controls to ease startup, operation, and maintenance for pro installers and service techs.

FOUNTAIN VALLEY, Calif., April 23, 2026 /PRNewswire/ — Noritz America, an international leader in tankless and electric heat pump water heaters and high-efficiency combination boilers, has further enhanced its EZ Series Pro line of residential condensing tankless water heaters by expanding both the size and the functionality of the units’ built-in control panel, whose user-friendly digital interface is mounted prominently on the front exterior.

Providing upgraded monitoring and diagnostic capabilities, the multi-function panel display allows professional installers to view system status, temperature settings, service reminders, maintenance data, error codes, error history, and (if applicable) recirculation timing settings. All of this vital information is built in and readily accessible on the water heater. Besides eliminating the need for a separate, external remote controller, the panel enables guided setup during installation and faster, more effective troubleshooting.

In addition, installers and users can monitor and program the unit remotely via Bluetooth® connectivity that works alongside the panel, using the EZ Start Plus app on their smartphones. A separate external remote is optional.

“The intent of our upgrade efforts was to create a more satisfying user experience for both the professional and the consumer,” says Noritz Executive Vice President and General Manager Jason Fleming. “We focused on simplified installation, advanced diagnostics, and giving professionals and their customers easier, more responsive control of the water heater.”

Essential Features of the Multi-Function Panel

Below are the main features and capabilities of the upgraded, built-in, multi-function panel and related control system:

Digital temperature control: Professional installers and service technicians will find it easier to use the enlarged panel to set the output water temperature to 100° – 140° Fahrenheit. Temperature settings are available in increments as small as 5°F.

Key benefits: More precise temperature control for professionals and, as a result, safer, more consistent hot-water delivery for end users.

Integrated Bluetooth connectivity; no more dip switches: The EZ Start Plus app enables installers and service techs to perform system setup, adjust the temperature, run diagnostics and share this information electronically with Noritz Technical Support. Installers can even register the water heater to qualify for the accompanying warranty.

Key benefits: Simplified startups mean faster installs, minimizing the manual programming that installers previously had to perform. Smartphone-based control and troubleshooting eliminate the need for old-style manual adjustment of physical dip switches.

Improved service access: Even the physical design of the EZ Series Pro has been reengineered to work more effectively with the newly enhanced multi-function panel.

Key benefits: The latched, snap-lock front cover enables quicker access to components for easier maintenance and servicing.

Industry-Best Warranty

The upgraded EZ Series Pro continues to include three models, all with a Uniform Energy Factor of 0.98, the highest efficiency rating in the tankless water heater industry:

EZ71: input range — 12,800 to 160,000 BTU/hour; flow rate — 0.4 to 9.0 gallons per minute; turndown ratio — 12.5:1EZ98: 12,800 to 180,000 BTUh; 0.4 to 9.8 gpm; 14:1;EZ111: 12,800 to 199,900 BTUh; 0.4 to 11.1 gpm; 16:1.

All three units carry a 25-year limited warranty on their stainless steel heat exchangers, the longest such protection in the industry. Further protection includes a five-year limited parts warranty and one year for reasonable labor.

The water heaters use natural gas but are field-convertible to LP with a parts kit included with every unit. Two water heaters can be linked using Noritz’s optional Quick Connect linkage to double the hot-water flow rate.

Designed for wall-mounting indoors, the EZ Series Pro heaters can be direct-vented with two-, three-, or four-inch Schedule 40 or Schedule 80 PVC or CPVC, or two-inch or three-inch polypropylene venting. They can also be installed outdoors in milder year-round climates using an optional vent cap.

All EZ Series Pro models have received approvals from CSA, NSF5, NSF372, and are Low NOx approved by the South Coast Air Quality Management District (Rule 1146.2).

For more information on the newly upgraded Noritz EZ Series Pro, visit: https://ezseries.noritz.com/

A short product video is available at: https://youtu.be/m5iDn7sOGMc

For more information on the full line of Noritz tankless water heating products, visit www.noritz.com. You can also contact us by telephone at 866.766.7489 or by email at support@noritz.com.

For editorial assistance, contact John O’Reilly or Emma Wurzer at GreenHouse Digital PR, 15255 South 94th Avenue, Suite 500 | Orland Park, IL 60462; tel.: 708.428.6385; e-mail: john@greenhousedigitalpr.com | emma@greenhousedigitalpr.com.

Hi-res versions of photographs to accompany this press release are available for immediate download by using this link: https://noritz.greenhousedigitalpr.com/ez-series-pro-upgrades.

NORITZ AMERICA CORPORATION, a subsidiary of Noritz Japan, has corporate offices in Fountain Valley, Calif., and Atlanta, offering a full line of tankless water heaters and high-efficiency combination boilers to meet the hot water demands of residential and commercial applications. Noritz supports its products with a national network of skilled representatives and employees committed to providing our communities with the finest products and services by helping consumers live a more comfortable, efficient, and healthy lifestyle. For more information on Noritz America and the entire line of Noritz’s ENERGY STAR® tankless water heaters, please call (877) 986-6748 or visit our website at www.noritz.com.

CONTACT:
Andrew Tran
Noritz America
(714) 433-7813
atran@noritz.com

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SOURCE Noritz

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