The global market for GaN Power Devices is expected to grow considerably between the forecast years of 2018-2026. Factors like growing research and development for gallium nitride applications, rising adoption of electric vehicles, and low prices of GaN power devices are boosting the market growth. Between the projected years, the market is expected to exhibit a CAGR increase of 16.95%.
The global GaN Power Devices market is segmented according to its industry verticals and device types. The market caters to industries like automotive, IT, aerospace and defence, consumer electronics, etc. The market by device type is further segmented into GaN power module, GaN ICs and GaN power discrete devices. Currently, the market is being presented by growth opportunities like growing demand from consumer electronics and high government funding. However, the intense on-going competition, coupled with growing inclination of several manufacturers for silicon-based devices is restraining the market progress.
The geographical segmentation of the GaN market is done into North America, Japan, Europe and Asia-Pacific (except Japan). Although the North American market was a significant contributor in 2017, it is the Japanese market that is expected to progress ahead over the coming years. Also, by the end of 2020, Taiwan and South Korea are also expected to account for a significant share of the market. The wide-spread adoption of electric vehicles and the presence of key market players in the region is driving the Asia-Pacific market growth.
Some of the top companies in the global GaN market are Efficient Power Conversion Corporation, Cree Inc, Fujitsu (Acquired By Transphorm), Gan Systems Inc, International Quantum Epitaxy Plc, Infineon Technologies Ag, Koninklijke Philips N.V, Nippon Telegraph And Telephone Corporation, Mitsubishi Corporation,On Semiconductor Corporation, Taiwan Semiconductor Manufacturing Company Limited, Panasonic Corporation, Texas Instrument Incorporated, Visic Technologies Ltd and Toshiba Corporation.