GaN Power Devices Market – Rising Importance of Solid Battery Support in Developing Nations to Favour Market

The global GaN power devices market is expected to witness the entry of many new vendors in the near future on account of the attractive nature of this market, states Transparency Market Research (TMR) and it latest report. The market comprises several mid-level vendors as well as large vendors. Top players within the market are: Efficient Power Conversion Corporation, GaN Systems Inc., NXP Semiconductors N.V., Infineon Technologies AG, and Texas Instruments.

According to the report by TMR, the global GaN power devices market is expected to be worth US$1.4 bn by 2025. On the basis of component, the GaN power module segment is anticipated to show remarkable growth, expanding at a 19.5% CAGR between 2017 and 2025. This segment is expected to account for around 49.3% of the total GaN power devices market by 2025. On the basis of industry vertical, the consumer electronics segment is leading followed by the it and telecommunication sector, aerospace, and defence sectors. The automotive sector would particularly show considerable growth, expanding at a 20.5% CAGR between 2017 and 2025.

On the basis of geography, it is expected that Asia Pacific will emerge as an intimidating regional player in the market expanding at a whopping 19.9% CAGR from 2017 to 2025 and be worth US$520 mn by 2025, and lead in the market in terms of the most lucrative geographical segment. The growing market for smartphones will be one of the key factors for the growth of this market.

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One of the key factors boosting the growth of the global GaN power devices market is the burgeoning growth of the automotive industry. The increasing demand of electric vehicles in the automotive sector will be one of the primary draw drivers for the global gain power devices Market in the near future. Therefore the spotlight in which electric vehicles have come today on account of their environment benefits will definitely favour the GaN power device market. This is because GaN power devices provide high power density which helps in bridging the gap in the traditional automotive industry. The flourishing consumer electronic industry will continue to drive the growth prospects of the GaN power devices. An increase in the demand for GaN devices in commercial RF applications as well as for wireless charging will bolster the growth of this market.

The growing importance of solid battery support in developing regions and high penetration of smartphones will help GaN power devices to become an integral part of the smartphone industry. Since the smartphone industry is booming, the GaN power devices market will witness a positive outcome. The sales of GaN power devices will increase on account of a rise in the adoption of IoT as well as remote sensing technology in the consumer electronics sector. On the other hand the high procurement cost will act as a challenge. The processing complexity will also be a problem for the growth of the market.

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GaN Power Devices Market’s Robust Rise Enabled by Steady Growth of Electric Vehicles Industry

The global GaN power devices market comprises several large as well as mid-level vendors, due to the proliferation of lucrative opportunities in the market. Efficient Power Conversion Corporation, NXP Semiconductors N.V., GaN Systems Inc., Texas Instruments, and Infineon Technologies AG are among the leading players in the GaN power devices market. The market is expected to witness the entry of a significant number of GaN power device vendors in the coming years, intensifying the competition. Other significant players in the market include Fujitsu Limited, Transphorm Inc., Cree Incorporated (Wolfspeed), OSRAM Opto Semiconductors GmbH, and Qorvo, Inc., among others.

According to Transparency Market Research (TMR), the global GaN power devices market is expected to exhibit a robust 17.5% CAGR from 2017 to 2025. The GaN power devices market’s revenue valuation is likely to rise from US$223.5 mn in 2015 to more than US$1.4 bn by 225.

The GaN power devices market has been studied in five geographical segments, namely North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America was the largest segment in terms of revenue and held more than 35% of the market in 2015.

Rising Demand in Automotive, Consumer Electronics Sectors Drives GaN Power Devices Market

The booming automotive industry and the rising prominence of electric vehicles in the global automotive sector is likely to consistently remain a prime driver for the GaN power devices market in the coming years. Electric vehicles have come into the spotlight in the global automotive industry due to their environmental benefits. The GaN power devices market has benefited from the electric vehicle industry boom due to the high power density offered by GaN power devices, which has proved a key step in bridging the gap towards the conventional automotive industry. The rising awareness about the improving performance characteristics of electric vehicles is likely to remain a key driver for the global GaN power devices market.

The GaN power devices market is largely driven by expansion in the application areas for GaN-based devices due to flourishing consumer electronics industry. Moreover, increase in requirement of GaN devices for commercial RF applications and rise in demand for GaN devices for wireless charging are expected to further bring significant growth in the overall market. However, high procurement cost and processing complexity might create challenge for the overall growth of this market.

The consumer electronics sector is also a major consumer in the global GaN power devices market. The growing demand for smartphones in developing regions and the importance of solid battery support for consumers in the region has led to the GaN power devices industry becoming a key part of the smartphone industry boom. Growing adoption of IoT and remote sensing technology in the consumer electronics sector is likely to provide the GaN power devices market with a steady sales outlet in the coming years.

By type, GaN power discrete devices and GaN power modules are likely to dominate the global GaN power devices market in the coming years. The GaN power modules segment is expected to exhibit a steep rise at a 19.5% CAGR in the 2017-2025 forecast period.

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