GaN Power Devices Market ? Thriving Consumer Electronics Industry Boost?Growth

Posted by RASHMI on April 5th, 2019

Growing popularity of GaN power devices due to enhanced performance among industry applications and requirement of enhanced battlefield performance has driven the global GaN power devices market. The global GaN power devices market is anticipated to expand at a CAGR of 17.5% during the forecast period from 2017 to 2025. The global GaN power devices market was valued at US3.50 mn in 2015 and is expected to rise to US.4 bn by 2025.

The GaN power devices market has been segmented on the basis of component, industry vertical, and region. On the basis of component, the market is segmented into GaN power discrete devices, GaN power ICs, and GaN power modules. The GaN power discrete devices segment is further sub-segmented into GaN power RF devices and GaN power non-RF devices. GaN power ICs are further classified into MMIC and hybrid.

Geographically, the global GaN power devices market is dominated by North America, which has emerged as the key regional segment thanks to the steady support for development of battery technology itself as well as several flourishing application segments of the GaN power devices industry, such as the electric vehicles market and the smartphones market.

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The North America GaN power devices market, valued at US.9 mn in 2015, is expected to rise to US9.2 mn by 2025 at a 16.6% CAGR in the 2017-2025 forecast period. Nevertheless, Asia Pacific is likely to emerge as the dominant regional player in the global GaN power devices market in the coming years, with the regional market expected to exhibit a 19.9% CAGR between 2017 and 2025. The market’s revenue, valued at US.6 mn in 2015, is expected to rise to close to US0 mn by 2025.