GaN-powered chargers market’s Y-o-Y growth rate is expected to improve by nearly 2% in comparison to 2020.
GaN-powered Chargers Market to witness a growth in revenue from US$ 694.4 Million in 2021 to US$ 4.96 Billion by 2031. The rising demand for powerful, flexible, fast, lightweight, and highly-rated charging solutions to support power backup in smartphones & tablets, laptops & notebooks, autonomous robots, and other devices is supporting growth of GaN-powered chargers market.
Gallium nitride (GaN) is a high-performance alternative to the traditional silicon used in charging devices. The gallium nitride compound can minimize power loss and achieve high switching frequency with the help of characteristics such as miniaturization, high breakdown voltage because of wide band gap, and low conduction resistance.
Smartphones will remain key application for the market. It is expected to account for nearly 35% of GaN-powered chargers sold through 2021-22.
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Key Takeaways of GaN-powered Chargers Market Study
Disruptions Caused Due to COVID-19 Resulted in Declining Growth
The global shipments of GaN-powered chargers by power output such as 25W GaN chargers, 30W GaN chargers, 45W GaN chargers, 60W GaN chargers, and others declined in the first half of 2020 owing to supply chain disruptions caused by the COVID-19 outbreak. According to FMI, the market registered declining growth of a -1.5% as compared to the original forecast in 2019.
Increasing Value of Gallium Nitride Technology Boosts Growth
Consumption of GaN-powered chargers is increasing in the consumer electronics sector Gallium nitride technology offers various benefits such as higher switching frequency, enables faster wireless power transfer, and lower system cost. These benefits are primary factors driving GaN-powered chargers market. Silicon has its physical limitation and is therefore considered less efficient in delivering the required results.
GaN has therefore emerged as a preferred technology among telecommunication vendors since it is aiding in improving efficiency of various electronic devices. This is expected to support the GaN-powered chargers market growth.
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Who is winning?
Companies operating in the market have been focusing on offering innovations to gain competitive edge. Some of them are even conducting rigorous performance, reliability, and technology checks to review the safety and efficiency of these chargers.
Some of the leading market players are Xiaomi Corporation, Koninklijke Philips N.V., Belkin International, Inc., GaN Systems Inc., RAVPower, Baseus, and among others.
GaN-powered chargers Market by Category
Power Output
Application
Region
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 11, 2023