Growing demand for power saving electronic and machinery to boost the PhotoMOS Relay Market

According to the study published by Evolve Business Intelligence, The global Photomos Relay market size was valued at $466.8 Million in 2019 and is expected to reach $817.9 Million by 2027 growing at the CAGR of 8.0% from 2020 to 2027. . Some of the major factors impacting the overall growth of the Online travel agency market include rising internet penetration and the rise of social media platforms for travel bookings. One of the factors hindering the growth of the market is the lack of interlinking between government bodies and private enterprises to share data. However, the introduction of big data analytics is expected to register a significant opportunity to market.

Analyst’s View

According to Evolve Business Intelligence “The COVID-19 pandemic had a negative impact on the PhotoMOS Relay market. As a result of limited parts supplies due to cross border restriction and just-in-time production process, reduction in the workforce, and among others have led to shutting down of many semiconductor OEMs and the supply of semiconductor components within a specific region to comprehend the standstill disruption. This had reduced the demand of PhotoMOS Relay market ”

Panasonic Corporation to hold the highest market share in PhotoMOS Relay

The PhotoMOS Relay market has witnessed several new additions to the number of players offering the product. Some of these players are Panasonic Corporation, Omron, Toshiba, Broadcom, Misum. Panasonic partnered with China’s GS-Solar for the photovoltaic business.

The PhotoMOS Relay market report published today includes market revenue generated through the sale of product types such as above 20 V and below 80 V, above 100 V and Below 200 V,  above 200 V and Below 350 V, above 350 V. The report also includes the analysis of the market based on application such as power storage system, test measurement & telecommunication, medical device, others.