Growth Drivers
Increase in the Number of Personal Computers (PC) - The consumers are looking forward for more compatible and quick charging options for their smart devices and personal computers and it is expected to rise the growth of the global GaN market. It was found that, in the year 2021, the global PC shipments recorded 15% hike as compared to 2020, with more than 340 million units’ PC including desktops, notebooks and workstations shipped globally.
Upsurge in the Number of Data-center – There is a need for more efficient, smaller power supplies technology owing to its stronger restrictions for energy consumption. The increasing number of data-centers is projected to increase the growth of the global GaN adapters. For instance, with the available data of 110 countries, approximately 8,000 data centers were found across globe in January 2021.
Rising Number of Electric Vehicles – requires more power-dense batteries, efficient electric motors, and new wide-bandgap semiconductor solutions for the entire powertrain. The increasing demand for EV is expected to propel the demand GaN adapters as it is a wide-bandgap material providing numerous advantages at the system level for better performance. According to the Global EV Outlook 2022 published by International Energy Agency technology by the end of 2021, there were approximately 16.5 million electric cars on the world’s roads.
Upsurge in the demand for Television – Requirement of high-efficiency power supplies of several hundred watts for the television is expected to drive the growth of the global GaN adapters market. In the year 2020, 8 million units of television sets were sold in United Kingdom.
Rising Demand for Ear-Buds – About 65% of people use wireless headphones at home against approximately 57% who use earphones. While using headphones outside, individuals choose wireless earbuds about 54% compare to approximately 44%.
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
6.1% |
Base Year Market Size (2024) |
USD 1.14 billion |
Forecast Year Market Size (2037) |
USD 2.46 billion |
Regional Scope |
|
Author Credits: Abhishek Verma
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