According to MarketandMarkets’ report, the "GaN Power Device Market by Device Type, Voltage Range, Application, Vertical, and Geography - Global Forecast to 2023", the GaN power device market is expected to be worth $1,890.2 Million by 2023 from $408.3 Million in 2017, at a CAGR of 29.1% between 2017 and 2023. Major factors driving growth include revenue generation from the consumer electronics and automotive verticals, wide bandgap property of GaN material encouraging innovation, success of GaN in RF-power electronics, and increasing adoption of GaN RF power device in military, defense, and aerospace verticals.
Power device to grow at the highest rate during the forecast period
Telecommunications expected to hold the largest market share by 2023
APAC likely to hold the largest share of the GaN power device market during the forecast period
The report also profiles the most promising players in the GaN power device market. The competitive landscape of the market presents an interesting picture of the strategies adopted by a large number of players. The key players in this industry are Cree (US), Qorvo (US), MACOM (US), Microsemi Corporation (US), Analog Devices US), Efficient Power Conversion (US), Integra Technologies (US), Transphorm (US), Navitas Semiconductor (US), Texas Instruments (US), Sumitomo Electric (Japan), Northrop Grumman Corporation (US), Qromis (US), Polyfet (US), TOSHIBA (Japan), Sumitomo Electric (Japan), Mitsubishi Electric (Japan), Panasonic (Japan), GaN Systems (Canada), VisIC Technologies (Israel), GaNPower (Canada), Infineon (Germany), Exagan (France), Ampleon (Netherlands), and EpiGaN (Belgium).
If GaN has got your curiosity soaring, you can browse the “GaN Power Device Market - Global Forecast to 2023” report.