LONDON--(BUSINESS WIRE)--Technavio’s global MOCVD market research report projects the market to decelerate at a CAGR of around (3%) during the forecast period.
The growing investment in autonomous cars will be one of the major trends in the global MOCVD market during 2018-2022. The autonomous cars will require many sensors and other power electronic devices to work efficiently. There are three different types of sensors including, camera sensors, radar sensors, and LIDAR sensors. The autonomous cars will use an extensive number of chips for sensors, microprocessors, and microcontrollers. This is expected to drive the growth of the MOCVD market.
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According to Technavio analysts, one of the key drivers for the global MOCVD market is the increasing focus on renewable energy sources:
Global MOCVD market: Increasing focus on renewable energy sources
The demand for the generation of electricity from renewable energy sources has increased owing to energy conservation. The global energy demand will increase by 33% by 2035. This will lead to an increase in the adoption of power electronics in renewable energy sources such as wind and solar as these devices are used in several products such as inverters, turbine converters, and grid converters to increase switching speed and efficiency in power management.
According to a senior research analyst at Technavio, “The deployment of power electronics devices in the renewable energy sector will increase because of the demand for thermal capacity and power cycling capacity. The governments of various countries are planning on making renewable energy sources a part of their long-term initiatives. This will drive the growth of the MOCVD market, especially in the power electronics sector.”
Global MOCVD market: Segmentation analysis
This global MOCVD market analysis report provides market segmentation by end-user (optoelectronics and power electronics) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the optoelectronics segment held the largest MOCVD market share in 2017, contributing to nearly 55% of the market. This end-user segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, accounting for close to 88% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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