India, July 1 -- Yole Group releases its latest report, Status of the Power Electronics Industry, capturing a rapidly evolving industry at a crossroads. Nevertheless, the global power electronics device market is projected to grow robustly. The market research and strategy consulting company expects revenue to grow from $26.2 billion in 2024 to $43.3 billion in 2030, although 2024 has been marked by a series of challenges.

Milan Rosina, Principal Analyst, Power Electronics & Battery at Yole Group, said: "A surge in production has created significant overcapacity, leading to elevated inventory levels across the supply chain, from distributors to end customers. At the same time, average selling prices have declined, due to heightened cost ...