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GaN-based Power Supply Adapter Market is Booming Across the Globe
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The global GaN-based power supply adapter market is broadly affected by several factors, including increasing usage of GaN-powered devices in the global market, rising demand for energy-efficient power supply devices, and heavy investments in the electrical and electronics product sector. Thus, expanding applications of GaN-based power supply adapters in different sectors is propelling the global GaN-based power supply adapter market.
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GaN-based Power Supply Adapter Market: Dynamics
According to studies, it has been found that on an average, most homes have 5 to 10 devices that use power supply adapters, such as cordless phones, mobile phones, answering machines, hair dryers, and various others products. All these equipment can now be used with GaN-based power supply adapters. Internal power supplies are more prevalent in devices that have greater power requirements, typically more than 15 watts. Such devices include computers, televisions, office copiers, and stereo components. Most internal power supply models use more efficient designs called switching or switch-mode power supplies. As per the demand of customers, manufacturers are designing power supply devices that confirm energy efficiencies of 50% to 90%, yielding wide variations in power use among similar products. These GaN-based power adapters have improved efficiency, decreased size, and reduced weight. Investment in power supply adapters and other electronic devices is increasing constantly. Manufacturers are investing heavily in electronics and communication sectors, attributing to a new era of telecommunications, where various new and technologically advanced products are being manufactured. These factors are expected to impact the power supply adapters market.
The economic growth of electrical, electronic, and communication products is also expected to drive the market for GaN-based power supply adapters. Various companies have announced investments in electronics and automotive part manufacturing to fulfil the needs of end users. In August 2018, Samsung announced plans to boost investment in businesses that will drive its future growth, committing to an approximately US$ 21 Bn investment over the next three years, primarily led by Samsung Electronics, in the areas of artificial intelligence (AI), 5G, automotive electronics components, and biopharmaceuticals. As investments in all these sectors is on the rise, new products will require switching power supply equipment. Hence, this will moderately boost the GaN-based power supply adapter market.
In the GaN-based power supply adapter market, some factors are expected to hamper the market, one of them being complexity and cost associated with the production process of GaN-based power supply adapters; although in the upcoming years, GaN-based power supply adapters are anticipated to cost less with the ongoing innovations.
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GaN-based Power Supply Adapter Market: Prominent Regions
The GaN-based power supply adapter market in North America is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and growth of consumer electronics and industrial automation in the region. The GaN-based power supply adapter market in Europe is projected to witness favorable growth during the forecast period due to significant rise in industrial activities and expansion of the automotive sector in the region. The Asia Pacific GaN-based power supply adapter market is likely to expand during the forecast period, owing to the presence of a large number of players designing and producing power supplies.
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GaN-based Power Supply Adapter Market: Key Players
Key players operating in the global GaN-based power supply adapter market are ADG, AsusTek Computer Inc., Anker Innovations Limited, Belkin International, Inc., CUI Inc., Finepower GmbH, GaN Systems, Baseus, CHARGEASAP, G-Power Technology Co., Ltd, Verizon, RAVPower, and Xiomi, among others.
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