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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.

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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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Programmatic Advertising Market is expected to register a CAGR of 30.1% through 2034

Self-Service Kiosk Market is projected to grow at 10.5% CAGR through 2034

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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SOURCE Fact.MR

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America’s First VC-Backed Cyber Warfare Startup Raises Additional $30M from Khosla Ventures at $1.2B Valuation

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The investment follows Twenty’s $100M Accel-led Series B and further cements Twenty as the definitive offensive cyber company industrializing capabilities for the United States and its allies.

ARLINGTON, Va., July 20, 2026 /PRNewswire/ — Twenty, America’s first VC-backed cyber warfare startup, today announced an additional $30 million investment from Khosla Ventures at a $1.2 billion valuation. The investment follows Twenty’s recently announced $100 million Series B at a $1 billion valuation led by Accel.

With this investment, Twenty has now raised $168 million from many of the world’s foremost technology and national security investors, including Khosla Ventures, Accel, Friends & Family Capital, Point72 Ventures, Caffeinated Capital, General Catalyst, and In-Q-Tel.

Founded in 2024, Twenty is industrializing offensive cyber warfare for the United States and its allies. The company builds AI-enabled, end-to-end systems for the U.S. military and Intelligence Community, giving warfighters the speed and scale required to deter and defeat adversaries in cyberspace. Twenty’s systems are designed to keep human judgment at the center, pairing advanced AI and automation with rigorous evaluation, controlled deployment, and mission alignment.

The investment follows unprecedented government demand for offensive cyber capabilities built at commercial speed. This Administration has brought renewed leadership to offensive cyber, calling for the United States to use the full suite of offensive cyber operations to disrupt adversary networks and raise the costs of aggression on those who threaten American interests.

“Our thesis here is simple. AI is reshaping the world and the US and its allies need an AI-native cyberwarfare prime capable of protecting our most critical interests. That prime is Twenty,” said Jon Chu, the Partner at Khosla Ventures who led the investment. “Every major national security domain needs a prime that can operate at the speed of AI while delivering commercial grade execution and earning mission level trust. I’ve searched for a company that fits this thesis for years, but have never found a team with the necessary depth across AI, cyber, and defense until now. Twenty brings together the talent, product velocity, customer pull, and mission relevance required to define this category.”

“Khosla’s investment is further validation that Twenty is the definitive company industrializing cyber warfare for the United States and its allies,” said Joe Lin, Co-founder and CEO of Twenty. “We are building the industrial base for American cyber power: the AI-enabled capabilities our warfighters need to disrupt threats at their origin. We are grateful to partner with Jon and the Khosla team as we continue pouring capital directly into research and engineering.”

“AI is changing cyber warfare. Now it happens faster, at greater scale, and most defense contractors are still building for the old world,” said Vinod Khosla, founder of Khosla Ventures. “The country that moves fastest on AI-native cyber warfare will have the advantage for the next decade. Joe and the Twenty team have the technical depth and operational credibility to industrialize offensive cyber capability at exactly the moment it matters most.”

Twenty will invest this capital directly into research and engineering, expanding the technical team and accelerating development of the offensive cyber capabilities America’s warfighters need to win against determined adversaries.

About Twenty

Twenty is America’s first VC-backed cyber warfare startup. Founded in 2024, Twenty is industrializing cyber warfare for the United States and its allies. The company builds AI-enabled, end-to-end systems for the U.S. military and Intelligence Community, giving warfighters the speed and scale required to impose costs on adversaries in cyberspace. Twenty’s systems are designed to keep human judgment at the center, pairing advanced AI and automation with rigorous evaluation, controlled deployment, and mission alignment.

View original content to download multimedia:https://www.prnewswire.com/news-releases/americas-first-vc-backed-cyber-warfare-startup-raises-additional-30m-from-khosla-ventures-at-1-2b-valuation-302829778.html

SOURCE Twenty

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Construction begins on the Enbridge Sunrise Expansion Program

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PRINCE GEORGE, BC, July 20, 2026 /CNW/ — Canada is taking the next step in building infrastructure that will strengthen our economy, secure energy sovereignty and ensure affordability for Canadians.

Today, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, announced that construction has begun on the Sunrise Expansion Program in British Columbia, following the Government of Canada’s approval in April 2026.

This $4-billion expansion of Enbridge’s Westcoast natural gas pipeline will ensure British Columbia’s growing energy needs are met by providing up to 300 million cubic feet per day of additional transportation capacity on the province’s natural gas transmission system. This additional capacity ensures we can reliably power homes, schools and hospitals; support B.C.’s industrial and manufacturing sectors; and ensure natural gas supplies are available as LNG export facilities — including Woodfibre LNG, the world’s first net-zero facility — begin operations.

The Sunrise Expansion Program marks another milestone in Canada’s strategic push to get major infrastructure projects built to diversify our trade, create jobs and prosperity, and support national and energy security. The Expansion Program will add over $3 billion to Canada’s GDP as we expand Canadian natural gas exports to Asian markets. It will also create 2,500 jobs, including for local Indigenous communities, and generate $700 million in tax revenue to fund local roads, hospitals and schools.

The project will also maximize Canadian industrial participation and use domestically produced materials, including 100 percent Canadian melted and poured steel supplied by InterPro Pipe + Steel from Saskatchewan. Commitments to buying and supplying Canadian in projects like this support manufacturing jobs and strengthen Canadian supply chains from coast to coast to coast.

This project builds on a strong foundation of Indigenous partnership. Last year, 38 Indigenous communities in British Columbia acquired a 12.5 percent ownership interest in Enbridge’s Westcoast natural gas pipeline system, supported by the first-ever federal Indigenous Loan Guarantee.

The Sunrise Expansion Program underscores the Government of Canada’s commitment to working in partnership with provinces, industry and Indigenous partners to efficiently and responsibly approve projects that turn our energy opportunities into economic realities. We are building a Canada where major projects move forward, new jobs are created, and energy is secure and affordable for everyone.

Quotes 

“From approval to groundbreaking in just three months, the Sunrise Expansion Program shows how Canada is getting major projects built. This expansion will provide reliable natural gas for homes, hospitals, schools and B.C.’s growing low-carbon energy sector while creating thousands of well-paying careers and new, diverse international trade opportunities. This is how we strengthen Canadian energy security, support affordability and prove once again what being an energy superpower looks like.”

The Honourable Tim Hodgson 
Minister of Energy and Natural Resources 

“Breaking ground on Enbridge’s Sunrise expansion is a big step forward for our economy, for good local jobs and for Indigenous communities. Through our government’s Look West strategy, we’re building the kind of lasting prosperity that keeps our hospitals, schools and communities strong for generations to come.”

The Honourable Ravi Kahlon
B.C Minister of Jobs and Economic Growth

“The Sunrise Expansion project demonstrates what’s possible when First Nations, industry and government work together with a shared commitment to building a stronger future. For Lheidli T’enneh, meaningful partnerships are about more than economic opportunity — they are about ensuring our Nation has a seat at the table in shaping projects that will benefit our people and region for generations to come. By working collaboratively, we can help build a reliable and secure energy future that supports growing communities, creates opportunities for First Nations participation and respects the lands and waters that have sustained for time immemorial. This is the kind of partnership that moves reconciliation from words to action while strengthening a shared future.”

Chief Dolleen Logan
Lheidli T’enneh First Nation

“Today marks an important milestone as construction begins on the Sunrise Expansion Program. We appreciate the ongoing support of the Government of Canada and the Government of British Columbia to advance this critical natural gas infrastructure project. This project will strengthen energy security, support economic growth, create jobs and help to ensure Canadians have access to reliable, affordable energy for decades to come. We’re proud to be working alongside Indigenous groups, local communities, contractors and labour across British Columbia as we move this project from approval to construction and deliver lasting benefits for Canadians.”

Greg Ebel
CEO and President, Enbridge

“The Sunrise Expansion Program will be built in Canada, with Canadian steel. InterPro Pipe + Steel is proud to supply steel that is 100 percent melted and poured in Canada for this nation-building project. By choosing Canadian steel, we are supporting skilled workers, strengthening domestic supply chains and ensuring Canada’s critical energy infrastructure is built with Canadian materials. This is how we create lasting jobs, resilient communities and long-term economic benefits across the country.”

Doug Matthews
CEO, InterPro Pipe + Steel

Quick Facts 

The Enbridge Westcoast Pipeline is a 2,900-kilometre natural gas transmission system in British Columbia, supplying gas to B.C., Alberta and the U.S. Pacific Northwest. The Expansion Program would add approximately 140 kilometres of new pipeline by constructing 11 pipeline looping segments, parallel to the existing line, and supplying additional natural gas compression and upgrades and modifications to existing facilities.On July 2, 2025, Stonlasec8 Indigenous Alliance Limited Partnership, representing 38 Indigenous communities in British Columbia, acquired a 12.5 percent ownership interest in Enbridge’s Westcoast natural gas pipeline system. This transaction was supported by the Indigenous Loan Guarantee Program, which issued a loan guarantee covering $400 million of a $736-million investment.To date, more than $52 million has been spent by Enbridge on the hiring and procuring of services from Indigenous businesses for the Sunrise Expansion Program.

SOURCE Natural Resources Canada

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PrideStaff Announces New Ownership for Columbia, MD Office

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COLUMBIA, Md., July 20, 2026 /PRNewswire/ — PrideStaff, a nationally franchised staffing organization, is pleased to announce that Paul D’Souza will acquire the PrideStaff Columbia office and assume the role of Owner/Strategic-Partner. The ownership transition marks an exciting new chapter for the office as it continues its mission of connecting top talent with leading employers throughout Columbia and the greater Baltimore-Washington metropolitan region.

As Strategic-Partner, D’Souza will lead the Columbia office’s efforts to expand its market presence, strengthen client relationships, and deliver exceptional staffing and workforce solutions to businesses and job seekers across Central Maryland.

D’Souza brings extensive business leadership experience and a strong commitment to helping organizations and individuals achieve their goals. Under his leadership, the Columbia office will continue to leverage PrideStaff’s nationally recognized resources, innovative staffing solutions, and client-focused approach while maintaining the personalized service that has become a hallmark of the local operation.

“I’m excited to join PrideStaff as the Strategic-Partner of the Columbia office and to become part of a brand so highly regarded for its commitment to service,” said D’Souza. “The Columbia market offers tremendous opportunities for growth, and I look forward to building strong relationships with local businesses, supporting job seekers, and helping our clients navigate an increasingly competitive talent landscape. Together with our team, we’ll continue delivering the personalized service and results that have made PrideStaff a trusted staffing partner.”

Located in one of Maryland’s most vibrant business communities, the Columbia office serves employers across a variety of industries, providing staffing, recruiting, and workforce solutions tailored to each client’s unique needs. The office also supports job seekers throughout the region by connecting them with meaningful employment opportunities and career advancement resources.

“We’re excited to welcome Paul as the new Owner/Strategic-Partner of our Columbia office,” said Tammi Heaton, Co-CEO of PrideStaff. “His leadership experience, entrepreneurial spirit, and dedication to helping others succeed make him an excellent fit for our organization. We are confident that Paul will build on the office’s strong foundation while continuing to deliver the exceptional client and talent experiences that define the PrideStaff brand.”

The transition reflects PrideStaff’s ongoing commitment to empowering local owners who combine market expertise with a passion for service. Supported by PrideStaff’s national resources and proven operating model, the Columbia office is well-positioned for continued success and growth in the years ahead.

About PrideStaff 

PrideStaff was founded in the 1970s as 100% company-owned units and began franchising in 1995. It operates offices in North America to serve thousands of clients and is headquartered in Central California. With 45-plus years in the staffing business, PrideStaff offers the resources and expertise of a national firm, with the spirit, dedication, and personal service of smaller, entrepreneurial firms. PrideStaff is the only nationwide commercial staffing firm in the U.S. and Canada with over $100 million in annual revenue to earn ClearlyRated’s prestigious Best of Staffing® 15-Year Diamond Awards three years in a row, highlighting exceptional client and talent service quality.

For more information on our services, or for staffing franchise information, visit our website.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pridestaff-announces-new-ownership-for-columbia-md-office-302829817.html

SOURCE PrideStaff

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