Transparency Market Research has published a new research report that talks about the overall working dynamics of the global GaN power devices market. The research report expects the global market to exhibit a massive CAGR of 17.5% for the given assessment period of 2017 to 2025. With this rate of growth, the global market is expected to reach a valuation worth US$1.4 bn by the fall of 2025. This is a massive rise in terms of growth as the initial valuation recorded in 2015 was US$223.50 mn.
Of the different segments of the global GaN power devices market, the segment of GaN power module is projected to show a massive growth rate of 19.5% in the coming years of the forecast period. This particular segment is projected to account for nearly 49.3% of the overall market share in the global market by the end of 2025. Depending upon the type of industry, the segment of consumer electronics is currently dominating the global GaN power devices market. It is then followed by the segment of defense, aerospace, automotive, and IT and telecommunication. The automotive segment especially is projected to show a promising growth, exhibiting a huge CAGR of 20.5% for period ranging from 2017 to 2025.
Competition in Market to Intensify as New Players Enter the Fray
The vendor landscape of the global GaN power devices market is projected to experience the arrival of several new players in the coming few years. This incursion of these new players is because of the availability of several lucrative business opportunities in the global market. This situation is expected to create strong fragmentation of the global GaN power devices market as the number of the companies grow. Moreover, it is also expected to create a strong competition market as these players strive to generate more profits. The competition in the market will enforce these leading players global market to concentrate on developing new and innovative products so as to move ahead of their competition. In addition to this, established market players are expected to adopt aggressive business strategies such as mergers, takeovers, joint ventures, and strategic alliances in order to outshine their rivals.
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Asia Pacific to Clock Massive CAGR of 19.9%
In terms of geographical segmentation, the global GaN power devices market is divided into five major regional segments. These regions are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these, the regional segment of Asia Pacific is projected to clock the most promising growth rate of 19.9% in the coming years of the forecast period. This growth will take the overall value contribution of the Asia Pacific market to US$520 mn by the end of 2025. The region will dominate the global market because of the growing penetration of smartphones across the developing economies such as India, South Korea, and China among others.
GaN Power Devices Market, by Component
- GaN Power Discrete Devices
- GaN Power RF Devices
- GaN Power Non-RF Devices
- GaN Power IC’s
- GaN Power Modules
GaN Power Devices Market, Industry Vertical
- Consumer Electronics
- IT & Telecommunications
- Aerospace & Defense
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