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SiC-Based Power Electronics Market: Revolutionizing Automotive & EV/HEV Applications with 60% Market Share in Asia Pacific | Valuates Reports

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BANGALORE, India, Dec. 23, 2024 /PRNewswire/ — SiC Based Power Electronics Market is Segmented by Type (SiC MOSFET Modules, SiC MOSFET Discrete, SiC SBD, Others (SiC JFETs & FETs)), by Application (Automotive & EV/HEV, EV Charging, Industrial Motor/Drive, PV, Energy Storage, Wind Power, UPS, Data Center & Server, Rail Transport)

The Global SiC Based Power Electronics Market was valued at USD 2090.3 Million in 2023 and is anticipated to reach USD 15300 Million by 2030, witnessing a CAGR of 30.0% during the forecast period 2024-2030.

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Major Factors Driving the Growth SiC Based Power Electronics Market:

The SiC-based power electronics market is experiencing robust growth, driven by rising demand in electric vehicles, renewable energy systems, and industrial automation. Silicon carbide (SiC) components offer superior performance characteristics, including higher efficiency, greater thermal stability, and faster switching speeds compared to traditional silicon-based devices. These advantages make SiC power electronics essential for applications that require high power density and reliability.

Key sectors such as automotive, energy, and consumer electronics are leading the adoption of SiC technologies, supported by advancements in manufacturing processes and decreasing costs. As industries continue to prioritize energy efficiency and sustainability, the SiC-based power electronics market is poised for sustained global expansion, offering innovative and high-performance solutions to meet the evolving demands of a dynamic technological landscape.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL SiC BASED POWER ELECTRONICS MARKET:

The automotive sector, particularly the electric and hybrid electric vehicle (EV/HEV) segment, is a primary driver of the silicon carbide (SiC) based power electronics market. As the global push towards electrification intensifies, automakers are increasingly adopting SiC components to enhance vehicle performance and efficiency. SiC-based power electronics offer superior thermal conductivity, higher voltage operation, and greater energy efficiency compared to traditional silicon-based components. These advantages translate to longer battery life, faster charging times, and reduced weight in EVs, making them more attractive to consumers. Additionally, regulatory mandates aimed at reducing carbon emissions and promoting sustainable transportation are accelerating the adoption of SiC technologies in automotive applications. The integration of SiC power electronics in motor drives, inverters, and onboard chargers is essential for meeting the stringent performance and efficiency standards required by the burgeoning EV/HEV market, thereby significantly driving the growth of the SiC-based power electronics market.

SiC MOSFET modules are significantly driving the growth of the SiC-based power electronics market due to their exceptional performance and reliability in high-power applications. These modules integrate multiple SiC MOSFETs with optimized thermal management systems, enabling efficient power conversion and reduced energy losses. Industries such as renewable energy, industrial automation, and telecommunications benefit from the high switching frequencies and low on-resistance of SiC MOSFET modules, which enhance overall system efficiency and compactness. Additionally, the scalability and modularity of these components allow for easy integration into existing power systems, facilitating upgrades and expansions. The increasing demand for energy-efficient solutions and the push for miniaturization in electronic devices further propel the adoption of SiC MOSFET modules. As manufacturers prioritize performance and sustainability, the versatility and superior characteristics of SiC MOSFET modules make them indispensable in advancing power electronics, thereby driving the market’s growth.

SiC MOSFET discrete devices are playing a crucial role in driving the SiC-based power electronics market by providing high-efficiency and high-reliability solutions for various applications. These discrete components offer excellent switching performance, higher breakdown voltages, and superior thermal management compared to their silicon counterparts. Industries such as aerospace, defense, and consumer electronics are increasingly adopting SiC MOSFET discrete devices to meet the demands for compact and efficient power systems. The ability of SiC MOSFETs to operate at higher temperatures and voltages allows for more robust and durable designs, essential for critical and high-stress environments. Furthermore, the ongoing advancements in SiC technology have led to cost reductions and improved manufacturing processes, making these discrete devices more accessible to a broader range of applications. As the need for efficient power conversion and reliable performance continues to grow, SiC MOSFET discrete devices are becoming integral components in modern power electronics, thereby driving the expansion of the SiC-based power electronics market.

The growing emphasis on energy efficiency across various industries is a significant driver for the SiC-based power electronics market. SiC components, such as MOSFETs and diodes, offer higher energy conversion efficiencies compared to traditional silicon-based devices. This efficiency is crucial for applications in renewable energy systems, electric vehicles, and industrial automation, where reducing energy losses translates to lower operational costs and enhanced performance. Governments and regulatory bodies are also promoting energy-efficient technologies through incentives and standards, further encouraging the adoption of SiC-based power electronics. As organizations strive to meet sustainability goals and reduce their carbon footprint, the superior efficiency of SiC components makes them an attractive choice, driving the market’s growth. Additionally, the ability to operate at higher frequencies and temperatures allows for more compact and lightweight power systems, catering to the increasing demand for miniaturization in electronic devices.

The expansion of the renewable energy sector is a key factor driving the growth of the SiC-based power electronics market. Renewable energy sources like solar and wind power require efficient power conversion and management systems to handle the variability and intermittency of energy generation. SiC-based power electronics offer high efficiency and reliability, making them ideal for inverters, converters, and grid-tie applications in renewable energy systems. The ability of SiC components to operate at higher temperatures and voltages enhances the performance and durability of renewable energy installations, reducing maintenance costs and increasing their lifespan. Additionally, the integration of energy storage solutions with renewable energy systems benefits from the superior switching capabilities of SiC power electronics, ensuring seamless energy flow and grid stability. As the global shift towards sustainable energy continues, the demand for advanced power electronics solutions like SiC is expected to rise, significantly contributing to market growth.

Advancements in electric vehicle (EV) technology are a major driver of the SiC-based power electronics market. The automotive industry is continuously seeking ways to improve the efficiency, range, and performance of EVs, and SiC-based components play a crucial role in achieving these goals. SiC MOSFETs and diodes enable more efficient power conversion in motor drives and onboard chargers, resulting in longer battery life and reduced charging times. Additionally, the high thermal conductivity of SiC allows for better heat management, enhancing the reliability and safety of EV power systems. The push for lighter and more compact power electronics also benefits from the superior performance of SiC components, contributing to overall vehicle weight reduction and improved handling. As automakers adopt SiC technology to meet stringent emission regulations and consumer demands for high-performance EVs, the market for SiC-based power electronics in the automotive sector is poised for substantial growth.

Government policies and incentives play a significant role in driving the growth of the SiC-based power electronics market. Many governments around the world are implementing regulations and providing financial incentives to promote energy efficiency, renewable energy adoption, and the development of electric vehicles. These policies encourage industries to invest in advanced power electronics solutions, including SiC-based components, to comply with environmental standards and benefit from subsidies or tax breaks. For instance, regulations aimed at reducing carbon emissions in the automotive and industrial sectors drive the demand for efficient SiC power devices that enhance energy conversion and reduce operational costs. Additionally, government-funded research and development initiatives support the innovation and commercialization of SiC technologies, fostering market growth. As global focus intensifies on sustainable development and clean energy solutions, supportive government frameworks will continue to propel the adoption of SiC-based power electronics across various applications. 

The expanding consumer electronics market is another critical factor driving the growth of the SiC-based power electronics market. With the proliferation of high-performance devices such as smartphones, laptops, tablets, and wearable technology, there is an increasing need for efficient and compact power management solutions. SiC power electronics offer higher efficiency and faster switching speeds, enabling the development of slimmer and more energy-efficient consumer devices. Additionally, the ability of SiC components to operate at higher temperatures enhances the reliability and longevity of electronic devices, meeting consumer demands for durable and high-performance products. The rise of emerging technologies like augmented reality (AR), virtual reality (VR), and the Internet of Things (IoT) further boosts the demand for advanced power electronics. As consumers continue to seek innovative and high-quality electronic products, the adoption of SiC-based power electronics in the consumer electronics sector is expected to accelerate, contributing significantly to market growth.

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SiC-BASED POWER ELECTRONICS MARKET SHARE:

Product Segments:

SiC MOSFET Modules dominate the market, accounting for approximately 50% of the total market share, making it the largest segment in terms of product type.

Applications:

The Automotive and EV/HEV sector emerges as the leading application area, contributing to nearly 60% of the market share, driven by increasing electrification and green energy initiatives.

Regional Insights:

Asia Pacific leads the global market, capturing around 60% of the total share, supported by robust demand and a thriving electronics industry in countries like China and Japan.

Key Players:

STMicroelectronicsROHM CO LTDInfineonWolfspeed Inc.OnsemiBYD SemiconductorMicrochip (Microsemi)Mitsubishi Electric (Vincotech)Semikron DanfossFuji ElectricNavitas (GeneSiC)ToshibaQorvo (UnitedSiC)San’an OptoelectronicsLittelfuse (IXYS)CETC 55WeEn SemiconductorsBASiC SemiconductorSemiQ, Inc.Diodes IncorporatedSanRexAlpha & Omega SemiconductorBoschKEC CorporationPANJIT GroupNexperiaVishay IntertechnologyZhuzhou Crrc Times ElectricChina Resources Microelectronics LimitedStarpowerYangzhou Yangjie Electronic TechnologyGuangdong AccoPower SemiconductorChangzhou Galaxy Century MicroelectronicsHangzhou Silan microelectronicsCISSOIDSK powertechInventChip TechnologyHEBEI SINOPACK ELECTRONIC TECHNOLOGYOriental SemiconductorJilin Sino MicroelectronicsPN Junction Semiconductor (Hangzhou)United Nova Technology

Global industry leaders include STMicroelectronics, Infineon, and Wolfspeed, collectively holding a dominant 60%+ market share, shaping the competitive landscape with innovative solutions.

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–          High Voltage SiC Power Devices Market

–          Semiconductor Silicon Carbide (SiC) Power Devices market was valued at USD 3031 Million in 2023 and is anticipated to reach USD 10950 Million by 2030, witnessing a CAGR of 18.9% during the forecast period 2024-2030.

–          Silicon Carbide (SiC) Semiconductor Devices market is projected to grow from USD 1396.6 Million in 2024 to USD 1938.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period.

–          Silicon Carbide Device market was valued at USD 3162 Million in 2023 and is anticipated to reach USD 11760 Million by 2030, witnessing a CAGR of 19.8% during the forecast period 2024-2030.

–          Silicon Carbide Epitaxial Wafer market was valued at USD 227.8 Million in 2022 and is anticipated to reach USD 1667.4 Million by 2029, witnessing a CAGR of 32.5% during the forecast period 2023-2029.

–          Silicon Carbide (SiC) Wafer market was valued at USD 1029 Million in 2023 and is anticipated to reach USD 2784 Million by 2030, witnessing a CAGR of 14.8% during the forecast period 2024-2030.

–          Silicon Carbide (SIC) Power Semiconductors market was valued at USD 3136 Million in 2023 and is anticipated to reach USD 13160 Million by 2030, witnessing a CAGR of 21.9% during the forecast period 2024-2030.

–          Silicon Carbide MOSFET market was valued at USD 2306 Million in 2023 and is anticipated to reach USD 10440 Million by 2030, witnessing a CAGR of 21.9% during the forecast period 2024-2030.

–          Gallium Nitride (GaN) and Silicon Carbide (SiC) Power Semiconductors Market revenue was USD 1016.4 Million in 2022 and is forecast to a readjusted size of USD 8713.7 Million by 2029 with a CAGR of 35.5% during the review period (2023-2029).

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Technology

TCL Congratulates Spain’s National Football Team on a Historic Championship Victory

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July 21, 2026

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TCL joins supporters across Spain in celebrating La Roja’s return to the summit of international football

PARIS, July 21, 2026 /PRNewswire/ — TCL, a leading global consumer electronics brand and premium partner of the Royal Spanish Football Federation (RFEF), congratulates the Spanish national football team, who picked up the biggest trophy of the summer this weekend.

Sixteen years after La Roja’s first triumph, Spain has once again delivered a defining moment in the country’s sporting history. Since 2023, TCL has supported the Royal Spanish Football Federation, sharing the passion for a sport capable of uniting generations and creating unforgettable moments for fans globally.

“Congratulations to La Roja on this extraordinary achievement. Their journey reflects the talent, determination and collective spirit that make football a powerful source of inspiration,” said Stefan Streit, CMO at TCL Europe. “As premium partner of the Royal Spanish Football Federation, we are proud to celebrate alongside supporters across Spain and help fans experience the games through the latest technologies.”

A Victory Shared Beyond the Stadium

At a time when entertainment is enjoyed across multiple devices, a major football final remains one of the few occasions that can gather families and friends around the same screen. These are the moments TCL builds its entertainment technology to serve.

The TCL SQD-Mini LED TV Series is designed to bring greater scale, detail and intensity to live sport, combining precise light control, vivid colour and immersive large-screen viewing. Paired with powerful home audio, TCL televisions help audiences follow the movement of the match, hear the energy of the crowd and experience every moment with greater impact.

Beyond home entertainment, TCL’s wider ecosystem of air conditioners, refrigerators, washing machines and connected lifestyle products supports comfort throughout the home, whether families are preparing for the match, welcoming friends or celebrating together after the final whistle.

Supporting La Roja and the Power of Sport

TCL takes pride in its extensive sports sponsorships and in supporting leading national football teams across Europe.

As premium partner of the Royal Spanish Football Federation, TCL brings the passion and determination of La Roja closer to supporters while reinforcing its commitment to enhancing the way major sporting moments are experienced at home.

In Italy, TCL partners with the Federazione Italiana Giuoco Calcio, supporting the viewing experience for Azzurri fans. The company is also present in Germany as official partner of the German Football Association, alongside its support for the Polish, Czech and Slovak national football teams. TCL is also a global partner of Arsenal Football Club, extending its connection with football fans across international markets.

TCL’s commitment to sport also extends beyond football. Most recently, the company became a Worldwide Olympic and Paralympic Partner through to 2032, supporting fan and athlete experiences across the Olympic and Paralympic Games. This reflects TCL’s long-term commitment to using technology to enhance the sporting experience and its belief in the power of sport to unite cultures, communities and generations.

Discover TCL products designed to elevate the home viewing experience: https://www.tcl.com/eu/en

About TCL

TCL Electronics specializes in the research, development and manufacturing of consumer electronics including TVs, mobile devices, audio devices, smart home products and appliances. Combining thoughtful design and innovative technology to inspire greatness, our lineup delivers must-have features and meaningful experiences. As one of the world’s largest consumer electronics brands, our vertically integrated supply chain, and state-of-the-art display panel factory help TCL deliver innovation for all. For more information, please visit: https://www.tcl.com

TCL is a registered trademark of TCL Corporation. All other trademarks are the property of their respective owners. 

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Unlimited Systems Data Breach Exposes Patient Health and Personal Information: Edelson Lechtzin LLP Investigates Class Action Claims

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July 21, 2026

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National data breach law firm offering free case evaluations to individuals whose personal and protected health information may have been exposed after an unauthorized actor accessed files maintained by healthcare software vendor Unlimited Technology Systems, LLC.

NEWTOWN, Pa., July 20, 2026 /PRNewswire/ — Edelson Lechtzin LLP, a national class action law firm, is investigating data privacy claims arising from the Unlimited Systems data breach, a cybersecurity incident that exposed personal and protected health information maintained by Unlimited Technology Systems, LLC (“Unlimited”), a healthcare practice management software and revenue cycle management company. Unlimited disclosed the incident in a sample notice submitted to the Iowa Attorney General’s Office on July 1, 2026, after determining that an unauthorized actor had accessed files containing the personal and health information of patients served through its practice management software.

What Happened

On October 19, 2025, Unlimited Technology Systems detected unauthorized activity within its commercial data center and launched an investigation with the assistance of a cybersecurity forensic firm. That investigation determined that, between October 5, 2025, and October 10, 2025, an unauthorized actor accessed files and may have obtained copies of personal information belonging to patients of the healthcare providers Unlimited serves. Unlimited states that it notified law enforcement and conducted a review of the data involved, and it later disclosed the incident to state regulators, including through a sample notice submitted to the Iowa Attorney General’s Office on July 1, 2026. The total number of individuals affected nationwide has not been publicly disclosed.

Information Exposed

The Unlimited Systems data breach may have compromised both personally identifiable information (PII) and protected health information (PHI). The PII potentially involved includes names, Social Security numbers, dates of birth, email and mailing addresses, phone numbers, demographic information, and scanned documents such as copies of driver’s licenses or other government identification, insurance cards, and intake forms. The PHI potentially involved includes health insurance policy numbers, claims and benefits information, medical record numbers, dates of service, and diagnosis information.

Who Is Behind the Unlimited Systems Data Breach?

As of Unlimited’s disclosure, no data extortion or ransomware group has publicly claimed responsibility for the attack, and Unlimited has not publicly identified the responsible threat actor.

Who May Be Impacted

Patients of healthcare providers that use Unlimited Technology Systems’ practice management software — including individuals who receive notice that their information was involved in the incident — may face an increased risk of identity theft and fraud.

Your Legal Options

Edelson Lechtzin LLP is investigating a potential class action to pursue legal remedies on behalf of individuals whose sensitive personal and protected health information may have been compromised in the Unlimited Systems breach. The firm will evaluate your rights and potential claims at no cost.

Contact Us for a Free Case Evaluation

Speak confidentially with a data privacy attorney today: Marc Edelson, Esq., Edelson Lechtzin LLP, 411 S. State Street, Suite N-300, Newtown, PA 18940; Phone: 844-696-7492 ext. 2; Email: medelson@edelson-law.com; Web: www.edelson-law.com. Or click HERE to request a free consultation.

Recommended Protective Steps

Review account statements, credit reports, and explanation-of-benefits statements from your health insurer regularly, and remain vigilant for suspicious activity. If Unlimited Technology Systems offered you complimentary identity monitoring services through Kroll, consider enrolling using the activation code and verification ID included in your notification letter before the deadline stated in the notice. Confirm whether your information was involved in the incident and preserve any letters or emails you received about the breach. Consider placing fraud alerts and credit monitoring, and consider requesting an IRS Identity Protection PIN to guard against tax-related fraud. Those with questions may also call the dedicated assistance line at 844-576-3063.

About Unlimited Technology Systems

Unlimited Technology Systems, LLC is a healthcare software and revenue cycle management company based in Montgomery, Ohio. It provides practice management software to healthcare organizations and providers and processes data on their behalf, which is why patients of those providers may be affected by this incident even without a direct relationship with the company.

About Edelson Lechtzin LLP

Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to data breach litigation, the firm handles class and collective actions involving securities and investment fraud, federal antitrust violations, ERISA employee benefit plans, wage theft, and consumer fraud

Media and Partnership Inquiries: Use the contact information above to connect with our team regarding interviews, co-counsel opportunities, and referral partnerships.

Legal Notice: This press release may be considered Attorney Advertising in some jurisdictions.

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Binance Further Expands VIP Access with Updated Holder and OTC Criteria

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July 21, 2026

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Lower Holder VIP 3 threshold and OTC Spot Volume recognition make VIP progression more accessible

ABU DHABI, UAE, July 21, 2026 /PRNewswire/ — Binance today announced further updates to its VIP Program criteria, lowering the VIP 3 Wallet Assets threshold and integrating OTC Spot Trading Volume into Spot Trading Volume calculations for VIP qualification.

The updates build on Binance’s March 2026 VIP Program refresh, which lowered selected VIP thresholds and introduced new pathways to recognize high-value users earlier in their journey. The latest changes are designed to make VIP status more accessible for eligible holders and to better recognize users who are active across both Spot and OTC trading.

Effective July 21, 2026 at 08:00 UTC, the Wallet Assets requirement for VIP 3 will be reduced from $3,000,000 to $1,000,000. The change enables more eligible holders to access VIP 3 benefits, including applicable VIP fee rates, priority support, higher limits, advanced insights, event invitations, and other VIP-only benefits.

Binance is also updating how OTC Spot Trading Volume contributes to VIP qualification. From the same effective date, OTC Spot Trading Volume will count at a 4x multiplier toward Spot Trading Volume. For example, $1 million in OTC Spot Trading Volume will count as $4 million toward the applicable Spot Trading Volume threshold.

In addition, OTC-related VIP qualification will no longer be capped at VIP 4. By incorporating OTC Spot Trading Volume into the broader Spot Trading Volume metric, eligible users may now progress through the full VIP framework up to VIP 9, subject to meeting the applicable BNB Balance and qualification requirements.

“We continue to refine the Binance VIP Program to better reflect how our users engage across the platform,” said Catherine Chen, Head of VIP and Institutional at Binance. “By lowering the VIP 3 asset holding threshold and recognizing OTC Spot Trading Volume within Spot Volume qualification, we are creating a more flexible and accessible path for users to progress through VIP tiers while maintaining clear, measurable criteria.”

There are no changes to VIP trading fees as part of this update. Users who qualify under the new criteria will be automatically upgraded daily at 08:00 UTC to the corresponding VIP tier. If a user qualifies under multiple criteria, their VIP level will reflect the highest level they meet.

Users can view their latest VIP level in the My VIP Mobile Hub. Full details on the updated VIP Program criteria are available on Binance.

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.

About Binance

Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 320 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com.

About Binance VIP & Institutional

Binance VIP & Institutional empowers institutions and private wealth clients with robust asset management infrastructure, personalized VIP services and advanced end-to-end institutional trading tools on the world’s largest cryptocurrency exchange by trading volume and registered users. With deep financial services experience in both traditional and crypto markets, its global team of trusted experts provides VIP & Institutional clients with the support they need to confidently capitalize on the industry’s deepest liquidity and tightest markets.

For more information, visit: https://www.binanceinstitutional.com

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