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GaN Power Conversion Market To Hit $1.1 Billion In 2024

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GaN-on-silicon will gain 90 percent market share; GaN-on-GaN will be hobbled by high prices, says Lux Research

According to a new report by Lux Research, the market for GaN discrete components in 2024 will reach $1.1 billion market. However, the substrate that the GaN device is built on - silicon, SiC, or GaN - makes a big difference in the cost and performance of the device. GaN-on-Si will dominate the GaN market for at least the next decade, growing to $1 billion in 2024, a 90 percent share, says the report.

 "Of the three GaN flavours, GaN-on-Si will be the cheapest, pushing adoption of GaN-on-SiC or GaN-on-GaN out into the future," said Pallavi Madakasira, Lux Research Analyst and the lead author of the report titled, "˜Breaking Down the Gallium Nitride Power Electronics Market'.

"Even though both GaN-on-SiC and GaN-on-GaN offer performance improvements over silicon, high prices for SiC and GaN substrates will limit adoption," she added.

Lux Research analysts evaluated the overall GaN market, besides evaluating the growth prospects of the three GaN flavours.

Among their findings are that transportation and renewables/grid are key markets. GaN-on-Si will be the runaway leaders in the renewables and grid markets, as well as transportation, attaining markets of about $350 million and $380 million, respectively, in 2024. Next in adoption will be IT and electronics.

GaN-on-SiC will grow the fastest. GaN-on-SiC will grow at a 46 percent CAGR from 2017 to 2024, reaching $140 million. Driven by the SiC substrates' ability to function efficiently at high temperatures, it will gain the most adoption in transportation.

GaN-on-GaN is a non-starter for now. The lack of cheaper GaN substrates and a relative lack of developers mean GaN-on-GaN will play little commercial role in the next decade. More R&D is needed on cost-saving innovations like hybrid manufacturing processes.

Lux Research provides strategic advice and ongoing intelligence for emerging technologies. 


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