Key Findings
The global GaN power devices market offers high-temperature operations, high breakdown voltage, low on-state resistance & switching the range of nanoseconds for high switching operations in power systems. The global market of GaN power devices is predicted to propagate at a CAGR of 16.79% through the forecasted years 2019-2027. The growing demand for GaN in the commercial radiofrequency application and their high adoption in the manufacture of electric vehicles are mainly driving the market growth in the global scenario.

Market Insights
The escalating demand for GaN power devices in wireless charging is proving to be a major driving factor contributing to the growth of the global GaN power device market. Wireless charging is intensively adopted in smartphones & electric vehicles. In 2018, IT & telecommunication sector dominated the GaN power devices market by verticals. However, the global GaN power device market growth is restricted by stiff competition from silicon carbide power devices & reduction in their prices of silicon-based power devices. The low availability of GaN & the inclination of manufacturers towards silicon-based power devices are also some other major challenges faced by this market. The global GaN power device market has been segmented on the basis of device type & vertical.

Regional Insights
The global GaN power device market has been bifurcated into the regions of North America, Asia Pacific, Europe and the Rest of the World segment. The North America GaN power device market is principally driven because of the government initiatives for the production of GaN power devices. The United States dominated the GaN power devices market in 2018 since the country has the presence of a majority of the key players such as Efficient Power Conversion (U.S.), Texas Instruments (U.S.), Cree Inc. (U.S.) & others, who are supplementing the overall market expansion in the North American regional market. The Asia Pacific is anticipated to be the fastest growing regional market. It is primarily driven by funding for the development of GaN-based power devices.

Competitive Insights
The major companies operating in the global market are Nippon Telegraph & Telephone Advanced Technology Corporation, Koninklijke Philips N.V., Mitsubishi Corporation, GAN Systems Inc., Texas Instruments, Fujitsu (Transphorm), ON Semiconductor Corporation, Visic Technologies Ltd., Toshiba Corporation, Efficient Power Conversion Corporation, Taiwan Semiconductor Manufacturing Company Limited, Infineon Technologies AG, International Quantum Epitaxy PLC, Cree Inc. and Panasonic Corporation. All the mentioned companies aimed to satisfy new customers & fulfil their fast shifting requirements. Their target was to acquire start-ups & entering into partnership agreements to gain a competitive advantage over each other.