Portland,OR, Nov. 02, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global SiC GAN power semiconductor market generated $0.79 billion in 2020, and is projected to reach $7.05 billion by 2030, witnessing a CAGR of 27.1% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in demand for GaN power semiconductor for wireless charging and advantages of compound semiconductor (SiC) over silicon-based technology drive the growth of the global SiC GAN power semiconductor market. However, lack of availability of GaN material, high wafer cost of SiC semiconductors, and complexity in supply chain & designing process of SiC semiconductor technology hamper the market growth. On the other hand, decrease in prices of GaN semiconductors and increase in requirement of GaN devices for commercial RF applications present new opportunities in the upcoming years.
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COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic led to disruptions in supply chain across the world, which in turn, impacted the global SiC GAN power semiconductor market negatively.
- The pandemic suspended almost all the manufacturing hub, especially in the initial period.
- However, as the situation is getting better across the world, the global SiC GAN power semiconductor market is expected to get back on track soon.
The report offers detailed segmentation of the global SiC GAN power semiconductor market based on material, product, application, industry vertical, and region.
Based on material, the SiC segment held the highest market share in 2020, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the GaN segment is estimated to register the highest CAGR of 30.3% from 2021 to 2030.
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Based on industry vertical, the IT and telecom segment held the largest market share in 2020, holding more than one-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the automotive segment is projected to register the highest CAGR of 30.5% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly half of the global market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 29.0% during the forecast period. The report also mentions North America, LAMERA, and Europe.
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Leading players of the global SiC GAN power semiconductor market analyzed in the research include Fujitsu Limited, Infineon Technologies, Maxim Integrated, Microchip Technology, NXP Semiconductors, ON Semiconductor Corporation, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments, and Toshiba Corporation.
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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.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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.
