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One future trend will be to meet growth in electric power capacity, replacement of existing power plants using much smaller units of "clean" generation technologies based on renewables and high efficient power conversion systems responsible for precisely controlling the flow of electrical energy from the source up to the loads. Another direction is to reduce the CO2 emission of cars significantly by applying electronic units replacing mechanical parts and demand driven power electronic systems. The overall target of power electronics system development is boasting energy efficiency in all electric systems to help stretching energy resources and slow down the increase in carbon emission. Power electronic devices and smart power IC's will play a crucial role in increasing the efficiency, electric power is consumed. Silicon utilization, system reliability, power units miniaturization and overall operating efficiency are the key factors. Power Semiconductor devices, and signal processing IC's are the key elements of power electronic systems - despite of the fact that their costs are minimal in many applications relatively to the overall system costs. System integration and high power density design of monolithic devices, discrete components or multichip approach are the driving force for the progress in power electronic system development. Silicon utilization, system reliability, power units miniaturization and overall operating efficiency are the key factors. New system trends are going towards ultra high switching frequency reducing or eliminating bulky magnetics and capacitances as well as soft switching topologies for higher efficiency and low harmonics.