This IEC White Paper establishes the critical role that power semiconductors play in transitioning to an energy wise society. It takes an in-depth look at expected trends and opportunities, as well as the challenges surrounding the power semiconductors industry. Among the significant challenges mentioned is the need for change in industry practices when transitioning from linear to circular economies and the shortage of skilled personnel required for power semiconductor development. The white paper also stresses the need for strategic actions at the policy-making level to address these concerns and calls for stronger government commitment, policies and funding to advance power semiconductor technologies and integration. It further highlights the pivotal role of standards in removing technical risks, increasing product quality and enabling faster market acceptance. Besides noting benefits of existing standards in accelerating market growth, the paper also identifies the current standardization gaps. The white paper emphasizes the importance of ensuring a robust supply chain for power semiconductors to prevent supply-chain disruptions like those seen during the COVID-19 pandemic, which can have widespread economic impacts.The white paper highlights the importance of inspiring young professionals to take an interest in power semiconductors and power electronics, highlighting the potential to make a positive impact on the world through these technologies.The white paper concludes with recommendations for policymakers, regulators, industry and other IEC stakeholders for collaborative structures and accelerating the development and adoption of standards
