TrendForce: GaN power device revenue is expected to grow by 73% year on year in 2021

TrendForce: GaN power device revenue is expected to grow by 73% year on year in 2021

According to a report released by TrendForce on September 3, GaN power devices will achieve annual revenue of $83 million in 2021, an increase of 73% year-on-year. It is estimated that by 2025, the market size of GaN power devices will reach $850 million, with a compound growth rate of 78% from 2020 to 2025.

TrendForce: GaN power device revenue is expected to grow by 73% year on year in 2021

The report pointed out that consumer electronics, electric vehicles, communications and data centers are the three main application areas of GaN power devices, accounting for 60%, 20% and 15% respectively. TrendForce finds that about 10 smartphone OEMs have released more than 18 models of smartphones equipped with fast charging capability, while notebook manufacturers are also indicating a willingness to adopt fast charging for notebook computers.

TrendForce: GaN power device revenue is expected to grow by 73% year on year in 2021

Trendfore’s report predicts that the annual revenue of SiC is expected to grow at a 38% CAGR and reach US$3.39 billion in 2025, with NEVs, solar power generation/storage, and charging stations representing the top three largest source of SiC power device consumption, at 61%, 13%, and 9%, respectively. For the NEV industry, in particular, SiC power devices are most widely used in powertrain inverters, OBCs (on board chargers), and DC-DC converters.

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