The global GaN power device market was valued at US$ 1.67 Billion in 2020 and expected to reach US$ 5.6 Bn by 2027, with a growing CAGR of 29.1% during the forecast period (2021-2027).
The increasing adoption of GaN power devices in electric vehicles has uplifted the growth of the GaN power device market. Electric vehicles are mainly equipped with power modules to drive motors at higher voltage, as these devices reduce the current leakage between the collector and the emitter terminals, which enhances the switching rate with high frequency. Moreover, high voltage battery system in both HEVs and EVs requires power management devices for power handling from the battery to the motor drivers.
The increasing demand for GaN power devices in wireless charging is to accelerate the growth of the market during the forecast period. For instance, in December 2016, Efficient Power Conversion Corporation (EPC) launched wireless charging systems based on WiTricity’s designs that feature gallium nitride (GaN)-based solutions with ASD Technology Limited (ASD). The invention is in response to the rising customer and end-users’ manufacturer demand in wireless charging products operated by gallium nitride technology.
Based on industry vertical, the military, defense, and aerospace are expected to be the fastest-growing segment, owing to the use of various technologically advanced devices. The GaN power devices are utilized in the defense and aerospace industry to increase the bandwidth and performance reliability in communications, electronic warfare, and radars, among others. The ICs used in radar boards made by GaN enable efficient navigation, real-time traffic control and facilitates collision avoidance.
The high material and manufacturing cost is the major challenge for the GaN power device market growth. However, the growing adoption of GaN power device in electric vehicles surge the demand for GaN semiconductor.
Global GaN Power Device Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, Asia-Pacific is expected to witness the growth in the GaN power device market due to the increasing technological advancements that are leading to the augmented demand for effective and high-performance RF components. Moreover, the increasing adoption of wireless electronic devices and the production of telecommunication infrastructure is proliferating the growth of GaN power devices in the future.
Global GaN Power Device Market by Device Type Outlook (Revenue, USD Million, 2021-2027)
Global GaN Power Device Market by Voltage Range Outlook (Revenue, USD Million, 2021-2027)
Global GaN Power Device Market by Application Outlook (Revenue, USD Million, 2021-2027)
Global GaN Power Device Market by Industry Vertical Outlook (Revenue, USD Million, 2021-2027)
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