GaN Power Device Market Expected to Reach $1.24 Billion by 2027

A new report published by Allied Market Research, titled, “GaN Power Device Market by Device and Application:  Opportunity Analysis and Industry Forecast, 2020–2027” projects that the global GaN power device market size is estimated to reach $1.24 billion by 2027. In 2019, North America dominated the GaN power device market share, contributing more than 35% share of the overall revenue, followed by Europe. Furthermore, a growth in adoption GaN devices for wireless charging, across the world, propels the growth of the market. Moreover, automobile companies globally are adopting GaN power devices in electric vehicles for various applications, which fuels the global GaN power device market growth.

GaN has gradually emerged as a sustainable semiconductor material in imminent power electronic converters, owing to its beneficial properties, such as wide band gap and the prospect to form hetero structures that make the optimization of the power conversion possible. Although GaN power devices market is in its initial phase, still it has surpassed the silicon counterparts. GaN is majorly applied in optical and high-speed electronic devices, and has gained considerable impetus in recent years for power electronics applications. High-voltage transistors over 600V are reported to gain a high growth rate in terms of revenue. Over the past decade, the performance of GaN power devices has been improved significantly. 

GaN is preferred over other wide band gap materials such as Silicon Carbide (SiC) and Diamond as GaN devices offer similar characteristics as its counterparts at comparatively less prices. In addition, their advantageous properties such as high frequency switching and compact size drive their demand in the GaN power devices market. GaN switching devices anticipate are to replace MOSFETs in majority of the switching power supply applications in the coming years. These advantages is expected to increase the GaN power device market size.

Consumer electronic refers to home electronics devices. These devices are developed for everyday use. The rise in investment in R&D for charging device is lucrative to create future opportunities for GaN power device market. For instance, WiTricity Corp., demonstrated wireless charging using GaN field effect transistor (FET). Switching speed of GAN FET allows enhanced efficiency of resonant wireless power transfer as compared to silicon MOSFETs. The technology is in the initial phase of adaption in the smartphone market and is lucrative for further penetration. 

Among various regions, North America was the major revenue generator in 2019, and is expected to maintain its dominance in the future. This is attributed to rapid transformation from usage of SiC Power device to GaN Power device in the latest electronics adopted in future.

Asia-Pacific is the highest revenue generating region due to availability of huge power stations for high voltage power, increase in demand for power modules, and growth in population. Moreover, around 70% of the total electrical energy is estimated to be processed by power electronics systems that incorporate GaN devices. These devices are extensively adopted in industry verticals such as automotive, renewable energy stations, and electric grid infrastructures. These organizations take various initiatives to build power infrastructure with advanced technologies.

The global GaN power devices market is segmented on the basis of device, application, and region. Based on device, the market is categorized into GaN power discrete devices, GaN power ICs, and GaN power module. By application, the market is classified into consumer electronics, IT & telecommunication, automotive, aerospace & defense, and others. Region wise, it is analyzed across North America (the U.S., Mexico, and Canada), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, Taiwan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study

• By device, the GaN power modules segment accounted for the highest share of the market in 2019 with $52.2 million, growing at a CAGR of 32.2% from 2020 to 2027.

• On the basis of industry vertical, the IT & telecommunication segment generated the highest revenue, accounting for $36.3 million in 2019.

• By region, North America is expected to dominate the GaN power devices industry, garnering 40.1% share during the forecast period.

The major companies profiled in the report 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.