The power semiconductor market is poised for significant growth in 2024, driven by the increasing demand for energy-efficient devices and renewable energy solutions. As industries across the globe continue to prioritize sustainability and efficiency, power semiconductors have become essential components in power management systems. These devices play a critical role in converting and controlling electric power, ensuring the efficient use of energy. Key Drivers of Growth The demand for electric vehicles (EVs) is one of the primary factors contributing to the growth of the power semiconductor market. EVs require advanced power management systems, and semiconductors are integral in managing the power flow in these vehicles. With governments worldwide pushing for stricter environmental regulations and incentives for electric mobility, the adoption of EVs is expected to rise sharply in the coming years. Furthermore, the surge in renewable energy sources , such as solar and wind power,...