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Power Electronics Market , 54% of Growth to Originate from APAC, Technavio

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NEW YORK, Jan. 17, 2025 /PRNewswire/ — The global power electronics market size is estimated to grow by USD 10.67 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 5.92% during the forecast period.

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Report Attribute

Details

Base Year

2023

Forecast period

2024-2028

Historic Data for

2018 – 2022

Segments Covered

Product (Discrete and Module), Material (Silicon, Silicon carbide, and Gallium nitride), Geography (APAC, Europe, North America, South America, and Middle East and Africa), Application (), and End Use ()

Key Companies Covered

ABB Ltd., Analog Devices Inc., Arete and Cocchi Technology, Danfoss AS, Fuji Electric Co. Ltd., General Electric Co., Grayson Automotive Services Ltd., Infineon Technologies AG, Magna Power Electronics Inc., Mitsubishi Electric Corp., NXP Semiconductors NV, ON Semiconductor Corp., Power Electronics, Renesas Electronics Corp., Schneider Electric SE, Siemens AG, STMicroelectronics International N.V., Texas Instruments Inc., Toshiba Corp., and Vitesco Technologies Group AG

Regions Covered

APAC, Europe, North America, South America, and Middle East and Africa

Region Outlook

North AmericaEuropeAsiaRest of World

1. APAC – APAC is estimated to contribute 54%. To the growth of the global market. The Power Electronics Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. The power electronics market in APAC is experiencing significant growth, driven by the increasing energy demand in developing nations. By 2026, energy consumption is projected to increase 1.5 times compared to 2021. Renewable energy sources will contribute to meeting this demand, with countries setting targets for Silicon, Silicon carbide (SiC), and Gallium nitride (GaN) usage in semiconductor devices such as diodes and thyristors. Key contributors to the market include Japan, China, South Korea, and India. Japan, South Korea, and Hong Kong lead in research expenditures. In the automotive sector, the shift towards Electric Vehicles (EVs) fuels the demand for power electronics, including inverters, DC/DC converters, and chargers. The aerospace and defense industries rely on power electronics for 5G communication technology, AC to DC and DC to AC power conversion, and power distribution. Healthcare applications utilize power electronics in portable devices, smart systems, and energy-efficient HVAC systems. SiC and GaN are essential materials in power electronics, enabling high-efficiency energy conversion in various applications. The market also caters to household appliances, lighting, and renewable energy sectors, contributing to overall energy consumption reduction. Power electronics play a crucial role in energy management, power control, and energy distribution in various industries, including automotive, transportation, consumer electronics, and renewable energy. The market’s growth is further fueled by the integration of power electronics in interconnected solutions, ensuring efficient energy consumption and reliable power distribution.

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Segmentation Overview

Product 1.1 Discrete1.2 ModuleMaterial 2.1 Silicon2.2 Silicon carbide2.3 Gallium nitrideGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and AfricaCountry
US, China, Japan, South Korea, and GermanyApplicationEnd Use

1.1 Fastest growing segment:

The power electronics industry plays a pivotal role in power conversion for various applications, from consumer electronics to industrial systems. Single chip and System-on-Chips (SoCs) integrated with power electronics enable efficient power consumption in Silicon-based devices and Wide Bandgap (WBG) devices like SiC. Power electronics are integral to wearables, sensors, IoT devices, mobile phones, and handheld electronics, facilitating DC-to-DC conversion for battery charging and voltage scaling. In renewable energy, power electronics are crucial for power generation from sources like photovoltaics and wind turbines, ensuring efficient electrical energy consumption. Power transmission and distribution systems, including power plants and power grids, rely on power electronics for efficient power conversion and distribution. Industrial appliances, server power supplies, and motor drives also benefit from power semiconductors, reducing carbon footprint and enhancing performance. Telecom infrastructure and electric motor drives in industrial robots further expand the application scope of power electronics. ON Semiconductor and other leading companies continue to innovate in this field, pushing the boundaries of power conversion technology.

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Research Analysis

The Power Electronics Market encompasses the design, manufacturing, and application of various electronic components and systems in numerous industries. Key technologies include diodes, thyristors, and advanced materials such as silicon, silicon carbide, and gallium nitride. The market spans various sectors, including automotive and transportation, renewable energy, consumer electronics, defense and aerospace, and healthcare. Applications range from electric vehicles (EVs) and portable devices to power transmission and generation in renewable energy sources like photovoltaics and wind turbines. The power electronics industry plays a crucial role in electrical energy consumption and power generation, contributing significantly to the efficiency and reliability of modern systems.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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The Denver Post Names Luminate Bank the #1 Large Top Workplace in Colorado for 2026

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MINNEAPOLIS, May 13, 2026 /PRNewswire/ — Luminate Bank® earned the #1 ranking among large companies in The Denver Post’s Colorado Top Workplaces 2026 awards. The company also received the Special Award for Appreciation, recognizing its culture of employee support and recognition. This distinction is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The confidential survey uniquely measures the employee experience and its component themes, including that employees feel Respected & Supported, Enabled to Grow, and Empowered to Execute, to name a few.

“Being named a Top Workplace is incredibly meaningful because it comes directly from the individuals who choose to grow their careers with us and show up every day with purpose and conviction. They are the foundation of our success,” said Eric Lovins, President of Mortgage Lending at Luminate Bank. “We don’t take the responsibility of earning their trust lightly, and we remain committed to creating an environment where they can thrive, succeed, and feel proud of the work they do.”

Luminate Bank traces its roots to 1937, when it first opened as Equity Bank. In 2020, the organization was acquired and reintroduced as Luminate Bank and Luminate Home Loans, reflecting a renewed commitment to guiding customers through complex financial moments with clarity and care. In 2025, Luminate Home Loans and Luminate Bank unified under one brand, combining full-service banking with a strong mortgage platform to expand offerings and better serve customers. Today, Luminate Bank’s team of more than 700 professionals nationwide continues to focus on relationship-based banking paired with digital innovation, supporting responsible growth and long-term customer success.

“Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees,” said Eric Rubino, Energage CEO. “That’s something to be proud of. In today’s market, leaders must ensure they’re allowing employees to have a voice and be heard. That’s paramount. Top Workplaces do this, and it pays dividends.”

About Luminate Bank® — At Luminate Bank, We Open Doors—empowering individuals and families to achieve their financial dreams through personalized service and innovative digital solutions. As a nationwide bank headquartered in Minneapolis, Minnesota, we are committed to helping our clients meet their financial goals with a blend of modern technology, traditional values, and the trusted guidance of experienced professionals. Known for our exceptional commitment to customers, we take pride in delivering a seamless, supportive experience for every step of the journey. Our dedicated mortgage division has branches and a team of loan originators across the US, making expert home financing solutions accessible to communities nationwide.

Luminate Bank is committed to safeguarding your money and accounts with FDIC insurance coverage up to applicable limits. Learn more about how we can open doors for you at www.luminate.bank, follow us on Instagram, LinkedIn, and Facebook, or call (952) 939-7200.

ABOUT ENERGAGE
Making the world a better place to work together.™
Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 20 years of culture research and the results from 30 million employees surveyed across more than 80,000 organizations, Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.

Media Contact
Debbie Schwake, CMO
debbie.schwake@luminate.bank
952-698-3300

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InfoSight Launches AI-Enabled Purple Team SOCaaS: Machine-Speed Defense, Human-Led Control

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Purple SOC Unifies Offensive Testing, Defensive Monitoring, and AI-Driven Detection Engineering Into a Single Human-Led Security Program

MIAMI, May 13, 2026 /PRNewswire/ — InfoSight today announced the general availability of its AI-Enabled Purple Team Security Operations Center as a Service (SOCaaS)—a managed security solution that combines AI-driven attack path intelligence with human-led security governance. The service redefines how organizations detect, validate, and respond to modern cyber threats by unifying offensive adversary emulation and defensive monitoring into a single, continuously operating program.

AI-Enabled Purple SOC: Offensive Testing, Defensive Monitoring & Detection Engineering in One Human-Led Security Program

Modern enterprises face a growing mismatch between attacker speed and defender capability. AI-driven attack tools now operate at scale—testing controls, chaining vulnerabilities, and adapting faster than traditional SOC workflows can respond. Meanwhile, many Security Operations Centers (SOC) remain constrained by human-speed processes, where alert queues backlog, tickets accumulate, and threats progress before action is taken.

The challenge is no longer visibility—it is speed, correlation, and execution.

InfoSight’s Purple Team SOCaaS addresses this gap by delivering continuous threat exposure management across the full attack lifecycle. Rather than reacting to alerts alone, the AI-enabled experts continuously hunt for Advanced Persistent Threats (APT) and indicators of compromise (IOC)while decoding real-time threat signals to anticipate adversary behavior before incidents occur.

Core Capabilities

AI-driven attack path correlation across identity, cloud, and critical systemsAdversary emulation aligned to real-world MITRE ATT&CK techniques TTPsReal-time validation of SIEM, XDR, and EDR detections and response workflowsDynamic feedback loops that continuously update rules, telemetry, and playbooksHuman-led oversight for threat modeling, risk acceptance, and executive reporting

By fusing traditionally siloed red team and blue team functions with AI enablement, Purple SOCaaS creates a continuously learning security program. When detection gaps are identified, rules, telemetry configurations, and response playbooks are refined continuously instead of waiting for scheduled review cycles.

When analysts engage, alerts are already enriched, correlated, and prioritized. Evidence is pre-assembled across identity, endpoint, network, and cloud telemetry, allowing security teams to shift focus from manual triage to higher-value decisions such as determining scope, assessing control weaknesses, and directing response actions.

Purple SOCaaS delivers measurable business outcomes, including:

Reduced Mean Time to Detect (MTTD) and Mean Time to Respond (MTTR)Expanded detection coverage across high-risk attack vectorsReduced blast radius through continuous control validationStrengthened identity and privileged access controls based on proven adversary pathwaysBoard-level reporting tied to quantified exposure reduction over time

InfoSight’s Purple SOCaaS is delivered through a structured 30–60-day onboarding and launch program, followed by continuous validation cycles.

“Bad actors can operate at machine speed on a scale like never before, so organizations no longer have the luxury of reactive 8-5 security operations. Adversaries operate continuously, so defenses must too. Purple SOCaaS allows security teams to go on the offense and anticipate threats bases upon intent signals to stay ahead of modern threats. Attacks are running at machine speed so modern SOC operations must match the new pace. — Tom Garcia, President & CEO, InfoSight

InfoSight’s AI-Enabled Purple Team SOCaaS is available immediately for enterprise and mid-market organizations. Organizations can request an executive overview or technical brief by contacting InfoSight directly.

About InfoSight

InfoSight, Inc. is a cybersecurity services firm helping organizations reduce cyber risk across healthcare, financial services, manufacturing, energy, and government sectors. Founded in 1998, InfoSight delivers advanced security operations, risk management, and compliance solutions that help organizations strengthen defenses, reduce exposure, and protect critical systems and digital assets.

Media Contact:
Yendi Valdes
Marketing Director, InfoSight
Yendi.Valdes@infosightinc.com 
1-305-828-1003

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SOURCE InfoSight, Inc.

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Tuya Inc. to Hold Annual General Meeting on June 18, 2026

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SANTA CLARA, Calif., May 13, 2026 /PRNewswire/ — Tuya Inc. (“Tuya” or the “Company”) (NYSE: TUYA; HKEX: 2391), a global leading AI cloud platform service provider, today announced that it will hold an annual general meeting of the Company’s shareholders (the “AGM”) at 2:00 p.m. (Hong Kong time) on Thursday, June 18, 2026 at Huace Center, Building A, 3/F VVIP room, Xihu District, Hangzhou City, Zhejiang Province, 310012, China, for the purposes of considering and, if thought fit, passing each of the Proposed Resolutions as defined and set forth in the notice of the AGM (the “AGM Notice”). The AGM Notice and the form of proxy for the AGM are available on the Company’s website at ir.tuya.com. The board of directors of the Company fully supports the Proposed Resolutions and recommends that shareholders and holders of American depositary shares (“ADSs”) vote in favor of the Proposed Resolutions.

Holders of record of the Company’s ordinary shares as of the close of business on May 22, 2026 (Hong Kong time) are entitled to receive notice of, and to attend and vote at, the AGM or any adjournment or postponement thereof. Holders of record of ADSs as of the close of business on May 22, 2026 (New York time) who wish to exercise their voting rights for the ADSs underlying Class A ordinary shares must give voting instructions directly to The Bank of New York Mellon, the depositary of the ADSs, if ADSs are held directly by holders on the books and records of The Bank of New York Mellon or indirectly through a bank, brokerage or other securities intermediary if the ADSs are held by any of them on behalf of holders.

The Company has filed its annual report on Form 20-F, including its audited financial statements, for the fiscal year ended December 31, 2025, with the U.S. Securities and Exchange Commission (the “SEC”). The Company’s annual report on Form 20-F can be accessed on the Company’s website at ir.tuya.com and on the SEC’s website at http://www.sec.gov.

About Tuya Inc.

Tuya Inc. (NYSE: TUYA; HKEX: 2391) is a global leading AI cloud platform service provider with a mission to build an AI developer ecosystem and enable everything to be smart. Tuya has pioneered a purpose-built AI cloud platform with cloud and generative AI capabilities that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, AI application & others and Smart home & robot products for developers of smart device, commercial applications, and industries. Through its AI developer platform, Tuya has activated a vibrant global developer community of brands, OEMs, AI agents, system integrators and independent software vendors to collectively strive for smart solutions ecosystem embodying the principles of green and low-carbon, security, high efficiency, agility, and openness.

Investor Relations Contact

Tuya Inc.
Investor Relations
Email: ir@tuya.com

HL Strategy
Haiyan LI-LABBE
Email: hl@hl-strategy.com

Piacente Financial Communications
China Tel: +86-10-6508-0677
U.S. Tel: +1-212-481-2050
Email: tuya@thepiacentegroup.com

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SOURCE Tuya Inc.

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