IMARC Group, a leading market research company, has recently released a report titled “GaN Power Device Market Report by Device Type (Power Device, RF Power Device), Voltage Range (<200 Volt, 200–600 Volt, >600 Volt), Application (Power Drives, Power Supply Systems, Radio Frequency Based Systems), End-Use Industry (Telecommunications, Automotive, Renewable Power Generation, Military, Aerospace and Defense, Consumer Electronics, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global GaN power device market share, trends, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global GaN power device market size reached US$ 347.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,864.9 Million by 2032, exhibiting a growth rate (CAGR) of 29.8% during 2024-2032.
Global GaN Power Device Market Trends:
The increasing utilization of GaN devices in wireless power transfer systems as consumer electronics, including smartphones and laptops, adopt wireless charging capabilities is fueling the market growth.
Additionally, the high-frequency requirements of fifth generation (5G) networks that align well with the performance capabilities of GaN, making it an ideal choice for 5G base stations and network infrastructure, is catalyzing the market growth.
Furthermore, the growing product application in the aerospace and defense sectors, due to its robustness and ability to operate under extreme conditions, are contributing to the market growth.
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Factors Affecting the Growth of the GaN Power Device Industry:
· Increasing Demand for Energy-Efficient Electronics:
The rising demand for energy-efficient electronics is one of the major factors boosting the market growth.
Moreover, the growing need among industries and consumers to reduce energy consumption and enhance performance, boosting the use of gallium nitride (GaN) technology, is fueling the market growth. In line with this, the widespread utilization of GaN power devices as they are known for their high efficiency, enabling electronic devices to operate with lower power losses compared to traditional silicon-based power devices, is fostering the market growth. Along with this, the burgeoning product application in data centers, electric vehicles (EVs), and renewable energy systems, where minimizing energy waste directly translates to cost savings and reduced environmental impact, is contributing to the market growth.
· Rapid Advancements in GaN Technology:
The rapid innovations in GaN material science and manufacturing processes that improve the performance, reliability, and cost-effectiveness of GaN power devices are stimulating the market growth. These advancements lead to higher breakdown voltages, faster switching speeds, and improved thermal management in GaN devices, making them increasingly attractive for high-power and high-frequency applications.
Additionally, the burgeoning product integration with existing semiconductor technologies, facilitating their adoption in a wide range of electronic products, is boosting the market growth. In addition to this, the continuous research and development (R&D) efforts by industry players in innovating new and improved GaN-based solutions are propelling the market growth.
· Growth in Renewable Energy and Electric Vehicles (EVs):
The growth in renewable energy sources, boosting the use of GaN power devices for maximizing the efficiency of power conversion in renewable energy systems, such as solar inverters and wind turbines, is acting as a growth-inducing factor.
Moreover, their ability to handle high voltages and frequencies with minimal power loss makes them ideal for these applications, ensuring better energy harvest and lower operational costs. Along with this, the widespread product application in the electric vehicle sector to enhance the performance of EV powertrains and charging infrastructure by providing faster switching speeds and higher efficiency is contributing to the market growth.
GaN Power Device Market Report Segmentation:
By Device Type:
Power Device
· Discrete Power Device
· Integrated Power Device
RF Power Device
· Discrete RF Power Device
· Integrated RF Power Device
Based on the device type, the market has been divided into power device (discrete power device and integrated power device) and RF power device (discrete RF power device and integrated RF power device).
By Voltage Range:
· <200 Volt
· 200–600 Volt
· >600 Volt
On the basis of voltage, the market has been classified into <200 volt, 200–600 volt, and >600 volt.
By Application:
· Power Drives
· Power Supply Systems
· Radio Frequency Based Systems
Based on the application, the market has been segmented into power drives, power supply systems, and radio frequency-based systems.
By End-Use Industry:
· Telecommunications
· Automotive
· Renewable Power Generation
· Military
· Aerospace and Defense
· Consumer Electronics
· Others
On the basis of end-use industry, the market has been divided into telecommunications, automotive, renewable power generation, military, aerospace and defense, consumer electronics, and others.
Regional Insights:
· North America
· Asia Pacific
· Europe
· Latin America
· Middle East and Africa
Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
Competitive Landscape With Key Players:
The competitive landscape of the GaN power device market size has been studied in the report with the detailed profiles of the key players operating in the market
Some of These Key Players Include:
· Efficient Power Conversion
· GaN Systems Inc.
· IQE
· Koninklijke Philips N.V.
· MACOM Technology Solutions
· Microsemi Corporation (Microchip Technology Inc.)
· Mitsubishi Electric Corporation,
· Navitas Semiconductor Inc.
· Qorvo Inc.
· Sumitomo Electric Industries Ltd.
· Texas Instruments Incorporated
· Toshiba Corporation
· Wolfspeed Inc. (Cree Inc.), etc.
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Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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