ON Semiconductor's annual silicon carbide growth rate in 2024 will exceed the market by 200%

According to ON Semiconductor's first quarter 2024 financial report, sales of products such as silicon carbide increased by 9% year-on-year, exceeding the company's average. The company expects silicon carbide revenue to grow at twice the rate of the overall market in 2024, and more than 50% of silicon carbide substrates will be produced internally.