The 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 48.0% during the forecast period.
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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.
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The demand for GaN power device market is 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 GaN power device market growth.
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Government initiatives in High Voltage Direct Current (HVDC) and smart grid are anticipated to create new opportunities for the GaN power device market growth during the forecast period.
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The Asia-Pacific GaN Power Device 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.
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