The "GaN Power Device Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global GaN power device market size reached US$ 187.1 Million in 2021. Looking forward, the publisher expects the market to reach US$ 1,157.5 Million by 2027, exhibiting a CAGR of 35.49% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, the direct as well as the indirect influence of the pandemic on different end-use industries are continuously tracked and evaluated. These insights are included in the report as a major market contributor.
The gallium nitride (GaN) power device is a high electron mobility (HEMT) transistor that produces electrical energy by controlling the freely moving electrons in the wide bandgap of the semiconductor.
As compared to the silicon metal-oxide-semiconductor field-effect transistor (MOSFET), the GaN power device has lower on-resistance, lesser output capacitance, and higher electric-field strength. It also conducts more electrons, reduces switch node ringing, and increases efficiency.
Besides this, it is compact, fast, and lightweight, owing to which it is gaining traction in commercial and industrial applications across various industrial products.
The market is presently being driven by the extensive utilization of GaN power devices in various end-use industries. For instance, it is used in the lighting and braking control systems in electric vehicles (EVs) and hybrid electric vehicles (HEVs). Governments of several countries are introducing stringent policies on greenhouse gas (GHG) emissions, which is boosting the sales of EVs and HEVs around the world.
They are also promoting the adoption of energy-efficient devices, which is further influencing the demand for GaN power devices in the defense and aerospace industries. Apart from this, these devices are utilized in radars to enhance navigation, avoid collision and enable real-time air traffic control. Moreover, they are employed in the manufacturing of healthcare scanning equipment, such as sonograms, magnetic resonance imaging (MRI), and miniaturized X-ray machines, to provide precision while performing surgeries.
Furthermore, they are used in small cells, distributed antenna systems (DAS), and remote radio head network densification. Besides this, the increasing adoption of the internet of things (IoT) technology, along with the introduction of 5G technology, is expected to create lucrative opportunities for manufacturers in the coming years.
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