VALLEY COTTAGE, New York, August 1, 2017 /PRNewswire/ --
Catering to the powering needs of future generations, Gallium Nitride (GaN) power devices are gaining preference due to their capabilities in delivering a very low device current loop resistance, and high-speed switching. Owing to the evolving dynamics of data-centric technologies, GaN power devices are witnessing steadfast adoption in powering technology hubs and data centres. Future Market Insights' recent report on global market for GaN power devices projects that by the end of 2027, more than US$ 2.5 bn worth of GaN power devices will be sold across the globe. By adopting GaN power devices, tech companies are successfully reducing their power costs, and simultaneously witnessing an uptick in their overall performance.
Moreover, the report also observes that GaN power devices are available in compact sizes. These devices are, hence, facilitating the grounds of miniaturization, a key trend in technology industry. Barring a few restraints such as high initial costs of adoption, lack of skilled technicians, and difficulties arising in integrating GaN power technology with existing technologies, the global market for GaN power devices is expected to soar at a vigorous pace, registering a CAGR of 22.4%. The market, which is anticipated to reach US$ 343.1 mn value by 2017-end, will also witness a rising adoption of GaN power devices developed on HEMT technology.
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High Adoption of GaN Power Devices with HEMT Technology
The use of high-electron-mobility transistor (HEMT) technology in production of GaN power devices has turned out to be lucrative. Companies manufacturing GaN power devices are developing more of such heterostructured field effect transistors to provide high performance levels at microwave frequencies. In 2017, nearly US$ 160 mn revenues will be amassed from sales of HEMT GaN power devices across the globe.
While HEMT technology will account for nearly half of market value, throughout the forecast period, the demand for GaN power devices with 4H-SiC MOSFET technology will record fastest growth at 24.8% CAGR. GaN power devices developed on 4H-SiC metal oxide semiconductor field effect transistors are likely to witness a steady adoption in electronic signal amplification & switching applications.
Preview Analysis on Global GaN Power Devices Market Segmentation By Technology - 4H-SiC MOSFET, HEMT, Others; By Wafer Material - GaN SiC, GaN Si; By Wafer Size - Less than 150mm, 150mm-500mm, More than 500 mm; By Industry - Consumer Electronics, Energy & Utilities, Automotive, IT & Telecom, Others: http://www.futuremarketinsights.com/reports/gan-power-devices-market
Qorvo Inc. - Dominant GaN Power Device Provider
The report has analysed the market's growth through systemic profiling of its competitive landscape. Wolfspeed Inc., NXP Semiconductors, Toshiba Corporation, Infineon Technologies, Inc., and Qorvo, Inc. are anticipated to be leading companies in the global GaN power device market during the assessment period.
In 2016, Wolfspeed and Infineon Tech collectively accounted for 40% share of global GaN power device market, while Qorvo dominated with a robust 23% company. Companies such as Texas Instruments Incorporated, GaN Systems Inc., Efficient Power Conversion Corporation, Panasonic Corporation, and Transphorm Inc. are also profiled as leading players in the global GaN power device market. Other players in the market include STMicroelectronics, AIXTRON SE, IQE PLC, EXAGAN, and POWDEC.
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Key highlights of the report include:
- Through 2027, Japan will be at the front end of global GaN power device market expansion
- The GaN power device market in Middle East & Africa is pegged to register speedy growth at 25% CAGR over the forecast period
- In 2017, more than US$ 210 mn worth of revenues will be procured by global sales of GaN power devices containing GaN Si wafer material
- Based on wafer size, demand for GaN power devices with 150mm-500mm size wafers will remain dominant
- While consumer electronics will be the largest industry for adoption of GaN power devices, their end-use will also find lucrative application in the automotive sector
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SOURCE Future Market Insights