Stratview Research has launched a new report, titled GaN Based Power Device Market, By Device (GaN Power Discrete Devices, GaN Power ICs, GaN Power Module), By End Use (Automotive, Consumer Electronics, Aerospace & Defense, Medical, Information Communication & Technology, Others), and Region.
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, The GaN Based Power Device Market is estimated to grow from USD 119.3 million in 2020 to USD 719.7 million by 2026 at a healthy CAGR of 35.8% during the forecast period.
Market Segments’ Analysis
Based on end-use, the GaN-based power device market has been classified into automotive, consumer electronics, aerospace & defense, medical, information communication & technology, others. The information communication & technology segment accounted for the largest market share of more than 22% in 2020. This is mainly attributed to the growing adoption of the Internet of Things (IoT) technology. IoT devices demand cost-effective and efficient components which facilitate a constant exchange of information.
By region, the North American GaN Based Power Device market accounted for the largest share of almost 33% in 2020 and is expected to grow at a significant CAGR during the review period. The GaN Based Power Device market growth is mainly propelled by rising investments by the defense & aerospace industry in R&D. Also, the governments in the region are encouraging the adoption of energy-efficient devices and are offering contracts to different companies, further bolstering the regional market growth.
The Asia-Pacific GaN Based Power Device market is expected to grow at the highest CAGR of more than 8% during the review period. The regional growth is ascribed to rapid technological advancements which are resulting in an increased demand for efficient & high-performance RF components. China and Japan are some of the largest manufacturers of consumer electronics, such as smartphones, LED display devices, and gaming consoles, among others, thereby boosting the regional market growth.
The following are the key players in the GaN Based Power Device market
- Cree (US)
- Navitas Semiconductor (US)
- Texas Instruments (US)
- TOSHIBA (Japan)
- Sumitomo Electric (Japan)
- Mitsubishi Electric (Japan)
- GaN Systems (Canada)
- Infineon (Germany)
- Ampleon (Netherlands)
- EpiGaN (Belgium)
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of GaN Based Power Device market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the GaN Based Power Device market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
Read the full report:https://www.stratviewresearch.com/2456/GaN-Based-Power-Device-Market.html
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