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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

Lumeris Partners With Schmitt-Thompson Clinical Content to Advance Tom™ Symptom-Checking Capability with Evidence-Based Telehealth Triage Guidance

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July 21, 2026

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Partnership strengthens AI-powered symptom checking with trusted clinical content to support more consistent patient guidance and care navigation

CAMBRIDGE, Mass., and CHANDLER, Ariz., July 21, 2026 /PRNewswire/ — Lumeris, a leader in healthcare technology and services, and Schmitt-Thompson Clinical Content (STCC), the leading provider of telehealth triage guidelines and medical call center decision support information in North America, today announced a partnership to integrate STCC’s evidence-based clinical triage content into the symptom-checking capability within Tom™, Lumeris’ AI-powered Primary Care as a Service platform.

The partnership represents the next evolution of Tom’s ability to help care teams extend access, improve patient engagement and deliver more proactive support for individuals with complex health needs. By incorporating STCC’s clinical guidance, Tom’s symptom-checking capability provides healthcare organizations with a stronger clinical foundation for helping patients navigate symptoms between primary care visits while supporting more timely, informed interventions.

Patients with chronic conditions and other complex health needs frequently experience new symptoms, medication concerns or health-related questions between scheduled in-person primary care appointments. Without timely guidance from providers, they may delay care or seek treatment in higher-acuity settings that may not be necessary. Tom’s symptom-checking capability provides an accessible first point of contact, enabling patients and caregivers to report symptoms, ask health-related questions and receive support through natural, conversational interactions while helping care teams identify individuals who may require additional clinical attention.

The integration of STCC’s clinical content strengthens the guidance behind Tom’s symptom-checking experience, helping healthcare organizations deliver more standardized, evidence-based responses to symptom-based questions. By combining conversational patient engagement with trusted clinical decision support, organizations can improve consistency across care settings while helping care teams efficiently assess patient needs and determine appropriate next steps.

“One of the biggest challenges in caring for high-risk populations is making sure patients have access to the right support at the right time,” said Dr. David Carmouche, chief medical and commercial officer, Lumeris. “This partnership strengthens Tom’s role as an active member of the care team by combining conversational patient engagement with trusted clinical guidance. Together, we’re helping organizations deliver more consistent symptom assessment, streamline clinical workflows and support safer, more timely interventions.”

Following each symptom-checking interaction, Tom generates a structured summary along with recommended prioritization guidance to help care teams quickly assess patient needs and determine the most appropriate next actions. The capability complements clinical workflows rather than replaces them, allowing organizations to extend support beyond traditional care settings while maintaining appropriate clinical oversight.

The partnership further advances Lumeris’ vision for Tom as an intelligent extension of the primary care team, combining AI-powered patient engagement, evidence-based clinical guidance and care team workflows to help healthcare organizations improve access, enhance patient experiences and deliver more proactive, coordinated care.

“We’re excited to partner with Lumeris to bring our gold-standard clinical triage guidance to the Tom platform,” said Patty Maynard, chief operating officer, STCC. “Together, we’re enabling healthcare organizations to deliver symptom-checking experiences that combine conversational technology with evidence-based clinical decision support, helping patients receive more consistent guidance while supporting care teams with trusted recommendations they can confidently act on.”

About Lumeris
Lumeris is a leader in healthcare technology and services advancing the future of primary care through Tom, its AI-powered Primary Care as a Service platform designed to function as a proactive member of the care team embedded directly in clinical workflows. Tom autonomously supports best next actions that help providers expand capacity, improve patient access, and reduce administrative burden while enabling more personalized, scalable care delivery. Built on more than two decades of primary care and value-based care experience, Tom reflects Lumeris’ deep experience supporting health systems and physician organizations nationwide and operating Essence Healthcare, its leading Medicare Advantage plan. Founded in 2010, Lumeris is headquartered in St. Louis and Cambridge, Massachusetts. The company employs more than 1,200 engineers, clinicians, and healthcare specialists. Learn more at Lumeris.com.

About Schmitt-Thompson Clinical Content
Schmitt-Thompson Clinical Content (STCC) is the leading source of telehealth triage guidelines and medical call center decision support information in North America. STCC provides the most comprehensive triage and advice content, spanning the continuum of delivery: After Hours, used by hospitals, health systems and insurance companies and Office Hours, used in practices and clinics. Schmitt-Thompson Clinical Content is the ‘gold standard’ in telephone triage, offering evidence-based, efficient and time-tested decision support. It is used by more than 400 health systems and health plans and an additional 10,000 physician practices. Learn more: http://www.stcc-triage.com.

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Technology

NorthRock Partners Expands Minneapolis Presence with Addition of Kowalski Financial, Strengthening National Growth Strategy

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July 21, 2026

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The partnership expands NorthRock’s Personal Office® model in its hometown of Minneapolis while bringing additional expertise and resources to Kowalski Financial’s clients.

MINNEAPOLIS, July 21, 2026 /PRNewswire/ — NorthRock Partners (NorthRock), a financial advice firm redefining the wealth management experience through its Personal Office® model, announced today that Kowalski Financial (Kowalski) has joined NorthRock. The partnership brings over $200 million in assets under management (AUM) and five team members, strengthening NorthRock’s growing presence in Minneapolis, MN.

Headquartered in Minneapolis, NorthRock has grown into a national advisory firm by expanding what a single client relationship can include. Its Personal Office® model builds a dedicated, customized team around each client to coordinate investments, tax, estate planning, insurance, legal, business services, and philanthropy in one place, staying alongside clients as their lives change. Each firm that joins NorthRock adds depth to that team and extends the model to more families.

Kowalski Financial brings an experienced team, a strong commitment to client relationships, and a shared belief in delivering personalized, long-term financial advice. Through this partnership, Kowalski advisors will gain access to the full depth of NorthRock’s Personal Office® specialists, expanding the advice and resources available to their clients.

“From the first conversations with Marc and the Kowalski team, it was clear they care deeply about their clients and about doing things the right way,” said Cam Rosenow, Head of Growth at NorthRock Partners. “That matters to us. This partnership is a strong fit because it brings together a team with real client relationships, a shared advice-first mindset, and the ability to plug into the depth of NorthRock’s Personal Office® model. We’re excited to welcome them into our Minneapolis office and build together from here.”

Founded in 2019, Kowalski Financial provided multidisciplinary financial planning services, including estate planning and tax services. The firm adds a talented group of advisors and professionals who share NorthRock’s commitment to helping clients navigate both financial decisions and life transitions.

“Joining NorthRock represents an exciting opportunity for our team and the clients we serve,” said Marc Kowalski, CEO at Kowalski Financial. “We have always believed that great advice starts with understanding the full picture of a client’s goals, values, and priorities. NorthRock’s Personal Office® model provides an expanded platform of expertise and resources that will allow us to continue delivering the personalized guidance our clients expect while enhancing the services available to them.”

The addition of Kowalski Financial reinforces the continued momentum behind NorthRock’s growth strategy and Personal Office® model. As advisors and families seek more coordinated approaches to wealth management, NorthRock continues to partner with firms that share its commitment to delivering customized, comprehensive advice. Furthermore, the Kowalski team will relocate to NorthRock Partners’ offices in downtown Minneapolis.

About NorthRock Partners
NorthRock Partners is a financial advice company serving more than 6,000 clients and managing over $12 billion in assets. For more than 30 years, NorthRock has placed clients’ financial and life needs at the center through its Personal Office® model. This integrated approach builds a dedicated, customized team around each advisor and enables them to coordinate all aspects of a client’s life, including investments, tax, insurance, estate, legal, business strategies, lifestyle, and philanthropy. NorthRock is recognized as one of Barron’s Top 100 RIAs in the United States. The firm also offers specialized divisions that include NorthRock X for athletes and entertainers and Foundation X for philanthropic advice and services. Learn more at www.northrockpartners.com.

Disclosures:
All investment advisory and Personal Office® services are provided by and through NorthRock Partners LLC, an SEC registered investment adviser. SEC registration does not imply a certain level of skill or training.

NorthRock Partners was recognized in Barron’s Top 100 RIAs in September 2025. The ranking was determined by Barron’s using criteria including AUM growth, employee growth, proprietary data and the number of advisors considered for evaluation. NorthRock Partners did not pay a fee to be considered for or included in the ranking. Additional information regarding the ranking methodology is available from Barron’s.

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Technology

Compass, Inc. to Announce Second Quarter Results on August 4

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July 21, 2026

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NEW YORK, July 21, 2026 /PRNewswire/ — Compass, Inc., d/b/a Compass International Holdings (the “Company”) (NYSE: COMP), a global real estate services company, announced its second quarter 2026 financial results will be released after market close on Tuesday, August 4, 2026. The Company will host a conference call and webcast to discuss its results that afternoon at 5:00 p.m. ET / 2:00 p.m. PT.

Call details are as follows:

The conference call and shareholder presentation will be accessible online via the Company’s Investor Relations website, https://investors.compass.com.You can also register in advance to access the live conference call at: Compass Inc. Q2 26 Earnings Conference Call.An audio recording of the conference call will be available for replay shortly after the call, for 90 days. To access the replay and shareholder presentation, visit the Events and Presentations section of the Company’s Investor Relations website.

About Compass, Inc., d/b/a Compass International Holdings

Compass, Inc., d/b/a Compass International Holdings (the “Company”) (NYSE: COMP) is a global real estate services company with a presence in every major U.S. city and approximately 120 countries and territories. Compass International Holdings serves millions of buyers and sellers through a portfolio of some of the most recognized and iconic brands: @properties, Better Homes and Gardens® Real Estate, CENTURY 21®, Christie’s International Real Estate, Coldwell Banker®, Compass, Corcoran®, ERA®, and Sotheby’s International Realty®. Every day, the Company empowers a global network of more than 300,000 real estate professionals in its owned-brokerage and franchise business to grow and deliver exceptional service to consumers.

The Company empowers real estate professionals to streamline operations and seamlessly guide clients through every phase of residential and commercial transactions, leveraging powerful tools, including its modern technology platform. In addition to brokerage services, Compass International Holdings offers integrated services, such as mortgage, title, insurance, escrow, and relocation.

The Company uses its Investor Relations website, https://investors.compass.com, to disclose information that may be of interest or material to its investors and to comply with disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company’s Investor Relations website and follow the Company’s press releases, SEC filings, public conference calls, webcasts, and social media.

Investor Relations Contact
Soham Bhonsle
soham.bhonsle@compass.com

Media Contact
Devin Daly Huerta
Devin.daly@compass.com

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