BCC Research estimates that in 2007, the global requirement for all types of power electronics approached $10 billion, with demand closely following electricity use patterns. Over the course of the five year, 2008 to 2013, forecast period covered in this study, BCC Research projects global requirements will increase at a 11.6 % compound annual growth rate (CAGR), reaching $17.7 billion.
Although the potential uses for power electronics will span power requirements from microwatts to megawatts at frequencies from direct current to light, the power electronics business will continue to follow the historic divides among two historic divides:
Generation, transmission, and distribution. Or, what in the past was considered the electric utility side of the business, and End-user consumption, which was traditionally divided into four groups of consumers: residential, industrial, commercial and transportation. To those four this study adds off-grid users, a fifth sector that in many ways owes its existence to the emergence of more capable and economical power electronics devices.