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GaN Power Device Market Set to Grow $1.24 Billion by 2027, at 35.4% CAGR

11-04-2020 03:09 PM CET | Media & Telecommunications

Press release from: Allied Analytics

GaN Power Device Market Set to Grow $1.24 Billion by 2027, at 35.4%

Decrease in prices of GaN devices, increase in demand for GaN devices for wireless charging, and rise in adoption of GaN devices in electric vehicle have boosted the growth of the global GaN power device market. In addition, increase in requirement of GaN devices for commercial RF applications augments the growth of the market. On the other hand, lack of availability of GaN material hampers the market growth to some extent. Moreover, government initiatives in HVDC and smart grid are expected to create an array of opportunities in the industry.

According to the report published by Allied Market Research, the global GaN Power device market was estimated at $110.3 million in 2019 and is expected to hit $1.24 billion by 2027, registering a CAGR of 35.4% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Download Report Sample (Tables-61, Figures-61 with Insight Pages-225): https://www.alliedmarketresearch.com/request-sample/1997

COVID 19 scenarios:

The increase in storage demand from data centers due to remote working boosted the growth of the market.
In addition, the supporting sectors including healthcare and medical devices, and telecommunications fuel the market growth amid COVID 19.

Based on product, the GaN power modules segment contributed to nearly half of the total market revenue in 2019, and is anticipated to rule the roost by the end of 2027. Whereas, the GaN power ICs segment is projected to manifest the fastest CAGR of 38.6% throughout the forecast period.

Based on end user, the IT and telecommunication segment accounted for around one-third of the global market share in 2019, and is expected to dominate during the study period. At the same time, the automotive segment would portray the fastest CAGR of 38.7% through 2027.

Get detailed COVID-19 impact analysis on GaN Power Devices Market: https://www.alliedmarketresearch.com/request-for-customization/1997?reqfor=covid

Based on geography, North America held the lion’s share in 2019, accounting for nearly half of the total market share and is anticipated to lead the trail from 2020 to 2027. Simultaneously, Asia-pacific would showcase at the fastest CAGR of 37.5% during the period. The report also analyzes the market across Europe and LAMEA.

The key market players analyzed in the global GaN power device market report are GaN Systems, Efficient Power Conversion Corporation (EPC), Panasonic Corporation, On Semiconductors, Texas Instruments Inc., VisIC, Fujitsu Limited, Toshiba Corporation, Taiwan Semiconductor Manufacturing Company, and Infineon Technologies AG. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their stand in the industry.

Interested to Procure the Data? Enquire Here: https://www.alliedmarketresearch.com/purchase-enquiry/1997

Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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