South & Central America Power Electronics Market Forecast to 2030 - Regional Analysis - by Type, Material and Industry Vertical

The South & Central America power electronics market was valued at US$ 2.46 billion in 2022 and is expected to reach US$ 3.08 billion by 2030; it is estimated to record a CAGR of 2.8% from 2022 to 2030.

Increasing Demand for AI-based Power Electronics Fuels South & Central America Power Electronics Market

Technological giants worldwide are highly focused on research and development of new technologies. Artificial intelligence (AI) is positioned as one of the major next-gen software technologies in the power electronics market. Artificial intelligence (AI) is transforming the way power electronics operate, especially in controlling the power quality cycle. Incorporating AI into power electronics helps businesses to streamline operations and automate tasks. For instance, in November 2020, Eneryield AB created an AI-based predictive method to control a wide range of power electronics.

AI-based power electronics are integrated with special machine-learning algorithms that allow huge amounts of data to be used to forecast the power quality over several cycles. AI allows power electronics to handle complex tasks such as signal measurement, power disturbance, and real-time monitoring. Further, power electronics use machine learning language-based components such as active power filters for monitoring the ongoing voltage and current signal attempts for predicting the power disturbance within a short time.

The machine learning algorithm provides appropriate time for power electronics to pre-process the monitored signal, compute the prediction, and provide the prediction to the compensation device-which can then inject the opposite harmonics and interharmonics signal to mitigate the disturbance actively. Significant benefits offered by AI-based power electronics encourage manufacturers to integrate AI in power electronics.

In addition, AI-based power electronics help both manufacturers and consumers to control the electricity supply in the devices. Increasing demand for AI-based power electronics encourages companies to partner with each other to use and develop advanced solutions. For instance, in December 2023, Unipower AB announced a collaboration with Eneryield AB to develop AI-based power electronics for power grid applications.

This collaboration helps Unipower AB use Eneryield AB's machine learning-based surveillance module in the power grids. The machine learning-based surveillance module helps Unipower AB predict faults in power grids, which can lead to better grid stability and supply security. Thus, the increasing demand for AI-based power electronics is anticipated to create lucrative opportunities for the power electronics market players during the forecast period.

South & Central America Power Electronics Market Overview

In South America, Brazil has a vast potential for the utilization of solar, wind, and other renewable energy sources. The growing adoption of these renewable sources necessitates the use of power electronics for efficient grid integration and energy management. Additionally, the electric vehicle market is in its early stages of development in South America, but it is expected to experience rapid growth in the coming years. This will boost the demand for power electronics in electric vehicles and charging infrastructure. Brazil is the largest power electronics market in South America, followed by Argentina and Colombia.

South & Central America Power Electronics Market Segmentation

The South & Central America power electronics market is categorized into type, material, industry vertical, and country.

• Based on type, the South & Central America power electronics market is categorized into power discrete, power module, and power IC. The power module segment held the largest market share in 2022.
• In terms of material, the South & Central America power electronics market is categorized into Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and others. The Silicon Carbide (SIC) segment held the largest market share in 2022.
• By industry vertical, the South & Central America power electronics market is segmented into ICT, automotive & transportation, consumer electronics, industrial, energy & power, and others. The consumer electronics segment held the largest market share in 2022.
• By country, the South & Central America power electronics market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America power electronics market share in 2022.

Vishay Intertechnology Inc; Toshiba Electronic Devices & Storage Corp; Littelfuse, Inc; Renesas Electronics Corp; Fuji Electric Co Ltd; ROHM Co Ltd; Mitsubishi Electric Corp; STMicroelectronics NV; and Infineon Technologies AG are some of the leading companies operating in the South & Central America power electronics market.