Dublin, May 06, 2024 (GLOBE NEWSWIRE) -- The "Power GaN Devices Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2024 To 2032" report has been added to ResearchAndMarkets.com's offering.
The power GaN devices market is forecasted to witness a remarkable compound annual growth rate of 41.5% between the years 2024 and 2032. A significant growth driver for this market is the burgeoning IT & Telecommunication sector, which necessitates high-performance devices as a result of data center expansions and progressive 5G technology deployment.
The automotive industry, with its increasing adoption of electronics and electric vehicles, is also propelling the demand for power-efficient GaN devices. The Aerospace & Defense sector underscores the market's growth with a solid projection, backed by heightened demand for electronic warfare, sophisticated radar systems, and communication devices.
Challenging Integration in Industrial Applications
Despite marked growth, the market faces integration challenges in the industrial sector. Compatibility and adaptation issues pose as a restraint, albeit efforts are ongoing to mitigate these integration complexities. Nonetheless, continuous collaborations and advancements promise potential resolutions to such challenges.
Market Segmentation Insights
Segment-wise, Discrete Power Devices led the market in revenue in 2023, while Integrated Power Devices are expected to demonstrate the highest CAGR till 2032.
With respect to voltage, devices above 600V commanded the market in revenue, showcasing their use in high-power applications, whereas below 200V devices are anticipated to witness a substantial CAGR. The automotive sector distinctly dominates the market as an end user, both in terms of revenue and growth rate.
Intensifying Market Competition
The competitive landscape in the power GaN devices market is set to intensify as leading players leverage strategic partnerships to optimize market positioning and technological adoption. A notable trend moving forward is the strategic alliances formed between major power GaN manufacturers and industry stakeholders in sectors such as IT & Telecommunication and Automotive.
Comprehensive Market Analysis
The reported market analysis encompasses a detailed examination of various market segments across different geographical regions. Shedding light on environmental factors, investment pockets, and market dynamics, the report provides a thorough understanding of the current trends and forecasted progress of the Power GaN Devices market.
Key Market Projections and Trends
Emerging trends, such as the move towards energy-efficient devices in various sectors and strategic expansion by leading fast-charging solution companies, are pivotal in shaping market growth. The analysis predicts that the Power GaN Devices market will continue to thrive, bolstered by the surging demand across diverse industry verticals. With specialized focus on geographical market estimation, the research outlines the projected growth rates and market dominance over the forecast period.
The power GaN devices sector remains poised for rapid expansion, driven by technological advancements and strategic industry collaborations. As the market evolves, these devices are anticipated to become quintessential components in a myriad of applications, further solidifying their market position globally.
Market Segmentation
Device Type
- Integrated Power Devices
- Discrete Power Devices
Voltage
- Below 200V
- 200-600V
- Above 600V
End-Use
- IT & Telecommunication
- Automotive
- Semiconductor & Electronics
- Industrial
- Aerospace & Defense
- Others (Energy & Utilities, Healthcare, etc.)
Companies Featured
- Infineon Technologies
- Texas Instruments
- STMicroelectronics
- Efficient Power Conversion Corporation, Inc.
- Fujitsu limited
- GaN Power Inc.
- GaN Systems
- Navitas Semiconductor
- NexGen Power Systems
- On Semiconductors
- Panasonic Corporation
- Power Integrations, Inc.
- Rohm Co., Ltd.
- Soitec
- Transphorm Inc.
- VisIC Technologies
For more information about this report visit https://www.researchandmarkets.com/r/38h95u
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