According to Transparency Market Research, the global GaN power devices market is projected to expand at 17.5% CAGR between 2017 and 2025. Global GaN power devices market was worth $0.22 billion in 2015 and is estimated to reach $1.4 billion by the end of 2025. Transparency Market Research’s report cites the leading players: GaN Systems Inc., Efficient Power Conversion Corporation, Infineon Technologies AG, NXP Semiconductors N.V., and Texas Instruments. It has been observed that these companies have a strong position in the global market.
- Based on component, GaN power discrete devices held approx. 52.6% share in terms of revenue in the global GaN power devices market in 2016. However, over the forecast period GaN power modules segment is projected to hold 49.3% of share in terms of revenue in the global market by the end of the forecast period. Over the forecast period, Asia Pacific is projected to rise at 19.9% CAGR and may emerge as a leading regional player in the market.
- Growing application of GaN power devices in automotive industry to fuel demand.
- Growing use of solid battery in developing economies and rising penetration of smartphones will help GaN power devices to become an integral part of the smartphone industry. As, the smartphone industry is booming it will also boost the demand for GaN power devices, which will in turn increase the demand in the GaN power devices market.
- Increasing adoption of IoT and remote sensing technology may hamper market growth.
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Transparency Market Research