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GaN Power Device Market by Device Type, Voltage Range, Application, Vertical, and Geography - Global Forecast to 2023 - Research and MarketsThe "GaN Power Device Market by Device Type, Voltage Range, Application, Vertical, and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering. The GaN power device market is expected to be worth USD 1890.2 million by 2023 from USD 408.3 million in 2017, at a CAGR of 29.1% between 2017 and 2023. The major factors driving the growth of the GaN power device industry include huge revenue generation from the consumer electronics and automotive verticals, wide bandgap property of GaN material encouraging innovation, success of GaN in RF-power electronics, and increasing adoption of GaN RF power device in military, defense, and aerospace verticals. However, the preference of silicon carbide in high-voltage power devices is expected to be a potential restraint in the overall GaN power device market. This factor is expected to limit the market growth over the next few years. The global GaN power device market for RF power device held the largest share in 2016. In 2016, more than 90% of the total GaN power device market for RF power devices was dominated by the telecommunications; military, defense, and aerospace; and consumer and enterprise verticals. RF power devices are used in the military applications, very small aperture terminal (VSAT), phased-array radar applications, defense applications, RF cellular infrastructure, jammers, and satellite communications. Initially developed for improvised explosive device (IED) jammers in Iraq, GaN RF power has emerged as the technology of choice for all new microwave an millimeter-wave electronics including radar, satellite, communications, and electronic warfare. The market for GaN-based power drives is expected to grow significantly during the forecast period. This is attributed to its characteristics such as high breakdown voltage and low conduction resistance characteristics that enable high-speed switching and miniaturization. The growing EV charging and electric vehicle production markets, as well as increasing renewable energy generation are the main reasons for the high growth rate of GaN-based power devices. Moreover, there is a huge demand for motor drives due to the high efficiency and performance characteristics offered by GaN devices in high voltage range (above 400 V) applications. 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. Asia Pacific (APAC) is expected to hold the largest share of the GaN power device market during the forecast period owing to the growing demand for power devices in the industrial, computing, telecommunications, automotive and military, and aerospace and defense verticals in emerging Asian countries such as China, Japan, Taiwan, the Philippines, and India. Moreover, the EV charging and electric vehicle production markets, as well as increasing renewable energy generation are driving the growth of the GaN power device market in APAC. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 GaN Power Device Market, By Device Type 7 GaN Power Device Market, By Voltage Range 8 GaN Power Device Market, By Application 9 GaN Power Device Market, By Vertical 10 Geographic Analysis 11 Competitive Landscape 12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/8csqzj/gan_power_device?w=4 View source version on businesswire.com: http://www.businesswire.com/news/home/20180108006036/en/ |
