The global Gallium Nitride (GaN) adapters market is estimated to garner a moderate revenue by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated a modest revenue in the year 2021. The growth of the market can primarily be attributed to the growing energy consumption worldwide. For instance, the annually estimated to be approximately 580 million terajoules worldwide.
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GaN is a semiconductor, a material with conductivity value between a conductor and an insulator. The rising demand for GaN adapter can be attributed to its efficacy to withstand higher voltages and conduct current much faster. Its efficiency for conducting current is 1000x better when compared to silicon. With the recent advancements and breakthrough in the technological industry as well as the increasing demand for GaN adapter amongst the smart phone users, is expected to create massive revenue generation opportunities for the key players operating in the global GaN adapters market during the forecast period. It was found that, between 2021 to 2022, more than 268 million smartphone users were added worldwide.
The global GaN adapters market is segmented and analyzed for demand and supply by application into mobile phones, computers & laptops, consumer electronics, automotive, and industrial products. Out of these, the consumer electronics segment is anticipated to hold the largest share over the forecast period on the back of growing electronics industry, and rising export and import of consumer electronics worldwide. As per the India Brand Equity Foundation, the appliances and consumer electronics industry accounted for ~USD 9.84 billion in 2021, and is expected to reach more than USD 21.18 billion by 2025.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Regionally, the global GaN adapters market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031 on the back of technological advancement and innovations along with increasing expenditure on research & development in the region. For instance, it was found that, in United States, the gross domestic expenditure on research & development was accounted for ~USD 656 billion.
The global GaN adapters market is further classified on the basis of region as follows:
Our in-depth analysis of the global GaN adapters market includes the following segments:
Top Featured Companies Dominating the Global GaN Adapters Market
FREQUENTLY ASKED QUESTIONS
The growing energy consumption, increase in the number of smartphones as well as personal computers along with upsurge in the demand for consumer electronics are some of the major factors anticipated to drive the growth of the market.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
Huge investment required for development of GaN technology, and market domination by silicon products are some of the factors estimated to hamper the market growth.
The market in the North America region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Belkin International Inc., GaN Systems Inc., Digi-Key Electronics, Lenovo, Texas Instruments Incorporated and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, by power, by application, and by region.
The consumer electronics segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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