Floods in southern Germany, record heat in India, drought in the Amazon, and even tornadoes raging in the middle of Europe – the consequences of the climate crisis are increasingly intruding into the everyday lives of many people. The answer to this is provided by the All Electric Society: the vision of a CO2-neutral and sustainable world where energy is almost exclusively generated and consumed electrically from renewable resources. Instead of combustion engines, e-mobility dominates; instead of gas power plants, heat pumps are used. Even heavy industry in this scenario relies on electrified storage and systems. Primary energy demand is reduced through efficiency measures, and intelligent, interconnected systems ensure that renewable energy is used across sectors as needed. The path to this All Electric Society has long been underway.
According to McKinsey, in 2023 alone, 183 billion US dollars in private investments were made globally in the electrification and renewable energy sectors.
For the electronics and semiconductor industry, the All Electric Society offers enormous potential, as it provides the key products for this vision. According to Mordor Intelligence, the market for semiconductor components for e-mobility will grow by an average of over 30 percent annually from 2024 to 2029. This includes particularly power electronics – a key technology for the energy transition, not just for e-mobility, as it enables efficient conversion and control of electrical energy. Modern semiconductors such as silicon carbide (SiC) and gallium nitride (GaN) offer significant advantages over traditional silicon.
According to a study by Yole Développement, the market for SiC semiconductors will grow to 6.3 billion US dollars by 2027. The energy distribution segment also offers great growth potential: according to a report by MarketsAndMarkets, the global smart energy market (smart grids, smart meters, etc.) is expected to grow from 170 billion US dollars in 2022 to 283 billion US dollars in 2027.
These are just a few examples that illustrate the enormous potential of the All Electric Society. And even though the vision of comprehensive electrification is currently gaining traction mainly in Europe, it has international implications and presents a global alternative to the current CO2-intensive society. As a passionate semiconductor distributor, EBV is happy to help you leverage this potential.
William Caruso
President EBV Elektronik
