Northrook, IL -- (SBWire) -- 05/11/2020 --The GaN power device market is expected to grow from USD 408.3 Million in 2017 to USD 1890.2 Million by 2023, at a CAGR of 29.1% between 2017 and 2023. The key factors contributing to the growth of the GaN power device includes the vast addressable market for GaN in the consumer electronics and automotive verticals, wide bandgap property of GaN material encouraging innovative applications, success of GaN in RF power electronics, and increasing adoption of GaN RF power device in the military, defense, and aerospace vertical.
Download Free PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93870461
Currently, the overall GaN power device market is dominated by RF power devices. Major industries that dominate the global GaN power device market are telecommunications; consumer and enterprise; automotive; and military, defense, and aerospace. GaN power devices are mainly used in UPS and motor control, wireless charging, high-efficiency power supply applications, servo motor drive, and hybrid and EV battery control and health management systems. GaN RF power devices are mainly used in radio and TV broadcast, amateur radio, civilian radar, jammers, satellite communications, electronic warfare, and missiles.
The growing EV charging and electric vehicle production markets and increasing renewable energy generation are the major factors driving the growth of the GaN power device market. Moreover, there is a huge demand for motor drives owing to the high efficiency and performance characteristics offered by GaN devices in the high-voltage ranges (above 400 V).
Market Dynamics
Opportunities: Potential use of GaN in 5G infrastructure
Telecommunications service providers are focusing on providing networks with higher capacity, lower latency, and ubiquitous connectivity. Although the current network is better than the previous one, it can be improved further in terms of latency, energy efficiency, data rates, and traffic capacity. 5G is expected to be launched commercially by 2020–2021, with advantages such as eco-friendly and efficient communication networks. Currently, GaN is commonly used in small cell, distributed antenna system (DAS), and remote radio head network densification. In the future, GaN is expected to be used as a replacement material for 5G network applications.
Request Free Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=93870461
Challenges: High material and fabrication costs
A major issue facing the GaN power device market is the high expenditure on industry processes in the supply chain. The total average expenditure per GaN power device, of all the supply chain processes put together (including expenditure from both complete upstream and downstream), is much more than the average expenditure per pure silicon semiconductor device.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
GaN Power Device Market Is Booming by 2023
Get in-depth analysis of the COVID-19 impact on the GaN Power Device Market