GaN Power Device Market Overview:
Global GaN Power Device Market was valued at $16 million in 2015, and is projected to reach $273 million by 2022, growing at a CAGR of 49.8% during the forecast period. Gallium Nitride (GaN) transistors have evolved as an enhanced performance substitute of silicon-based transistors, owing to their ability of fabricating more compact devices for a given resistance value and breakdown voltage as compared to silicon devices.
The demand for GaN power devices is globally expected to rise during the forecast period, due to reduction in price of GaN devices, better performance as compared to silicon carbide (SiC) devices, increase in requirement of GaN devices for commercial RF applications, and rise in demand of GaN devices for wireless charging. However, lack of availability of GaN material restraints the market growth. Government initiatives in High Voltage Direct Current (HVDC) and smart grid are anticipated to create new opportunities for the market growth during the forecast period.
The global GaN power devices market is segmented on the basis of device, industry vertical, and geography.
Global GaN Power Devices Market Segmentation
Top Impacting Factors
The GaN power transistors and GaN modules have appeared in the market recently. GaN has a wide band gap that offers comparable performance to SiC along with considerable cost reduction. This low price is possible, as the GaN power devices can be developed on silicon substrates that are easily available and incur less cost than SiC. GaN-on-Silicon (Si) devices are expected to achieve price parity with, and even superior performance as compared to silicon MOSFETs and insulated-gate bipolar transistors (IGBTs). This is expected to see boost market growth in terms of revenue. hence, decrease in prices of GaN power devices is expected to spur its faster adoption across various industry verticals.
Asia-Pacific is Expected to be the most Lucrative Region
The Asia-Pacific GaN Power Devices market is expected to grow at the highest CAGR during the forecast period, owing to the presence of several developing nations, industrialization, and globalization.
The report provides a comprehensive analysis of key market players and the significant strategies adopted by them. The key players include Efficient Power Conversion Corporation (EPC), GaN Systems, On Semiconductors, Panasonic Corporation, VisIC, Texas Instruments Inc., Toshiba Corporation, Fujitsu Limited, Infineon Technologies AG, and Taiwan Semiconductor Manufacturing Company.
- The study provides an in-depth analysis of the global GaN power devices market to elucidate the prominent investment pockets.
- Current trends and future estimations are outlined to determine the overall market scenario.
- The report provides information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
- Geographically, the market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
GaN Power Device Market Key Segmentation:
- GaN Power Discrete Devices
- GaN Power ICs
- GaN Power Modules
By Industry Vertical
- Consumer Electronics
- IT & Telecommunication
- Aerospace & Defense
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
- Efficient Power Conversion Corporation (EPC)
- Fujitsu Limited
- GaN Systems
- Infineon Technologies AG
- On Semiconductors
- Panasonic Corporation
- Taiwan Semiconductor Manufacturing Company
- Texas Instruments Inc.
- Toshiba Corporation
Other Players in the value chain include (profiles not included in the report):
- Cree Incorporated
- Renesas Electronics Corporation
- ABB Group