SiC & GaN Power Semiconductor Market projected to grow at a CAGR of 24.70%

Introduction of 5G mobile communication globally is one of the key factors driving the global market for SiC & GaN power semiconductor. Moreover, power semiconductors especially Radio Frequency type is required in mobile communication. Also, companies are focusing to introduce GaN-based power amplifier with high speed. Meanwhile, automotive electronics also accounts for heavy consumption of power semiconductors. With the rise in electric vehicles, the deployment of SiC & GaN power semiconductor in cars has also increased.

As per the latest study by Fact.MR, the global market for SiC & GaN power semiconductor is likely to experience strong growth during 2017-2026. The global market for SiC & GaN power semiconductor is also estimated to bring in US$ 2,986.3 million revenue. Introduction of technically advanced devices with better power capacity is driving the market for SiC & GaN power semiconductor.

SiC to Emerge as the Highly Preferred Material for Semiconductor

Compared to Gallium Nitride (GaN), silicon carbide (SiC) is likely to emerge as the highly preferred material. By 2026 end, SiC is estimated to surpass US$ 2,400 million revenue. Silicon Carbide is helping devices to achieve high energy conversion function, power consumption, and fast charging. SiC power semiconductor devices are being used in devices with high power capacity. Whereas, GaN is used in medium to low power capacity.

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Discrete SiC Power Devices to Gain Maximum Traction in the Market

On the basis of components, discrete SiC power devices are likely to gain traction in the market from 2017 to 2026. Discrete SiC power devices are estimated to surpass US$ 1,900 million revenue towards 2026 end. Meanwhile, SiC power modules are also likely to achieve strong growth through 2026. SiC power devices is emerging as the most viable option for next-generation semiconductor elements due to its high frequency, high voltage performance and high temperature.

SiC & GaN power semiconductor to Find Largest Application in Power Supplies

SiC & GaN power semiconductor is likely to find the largest application in Power supplies between 2017 and 2026. Power supplies are estimated to create an incremental opportunity above US$ 700 million between the forecast period from 2017 to 2026. Increasing demand renewable energy is resulting in the development of power semiconductor devices. Moreover, Silicon Carbide and Gallium Nitride are considered suitable for power semiconductor devices as it helps in reducing on-state resistance and miniaturizing the size of power devices.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global SiC & GaN power semiconductor market through 2026, which include VisIC Technologies Ltd, Panasonic Corporation, NXP Semiconductors N.V., GaN Systems Inc., Exagan S.A.S, Cambridge Electronics, Avogy, Inc., Vincotech GmbH, United Silicon Carbide Inc., STMicroelectronics N.V., Raytheon Company, Monolith Semiconductor Inc., Genesic semiconductor Inc., Transform, Inc., Alpha & Omega Semiconductor, Renesas Electronics, SEMIKRON International GmbH, Danfoss A/S, Microsemi Corporation, Wolfspeed, Inc., ROHM Semiconductor, Global Power Technologies Group, Fuji Electric Systems Co., Ltd, Fairchild Semiconductor, and Infineon Technologies.

Report Overview at https://www.factmr.com/report/381/sic-gan-power-semiconductor-market

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This release was published on openPR.