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GaN & SiC Power Semiconductor Market Size 2021 - Industry Forecasts Report 2027

With respect to the current pandemic, the GaN and SiC power semiconductor market was severely impacted since the spread of virus in 2020. Several projects in the solar energy generation landscape were halted during the first and second quarter of 2020. Additionally, decline in sales has led automotive OEMs to reduce their electric vehicle production capacity, impeding market growth. <br><br>Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3375<br>

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GaN & SiC Power Semiconductor Market Size 2021 - Industry Forecasts Report 2027

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  1. GaN & SiC Power Semiconductor Market is projected to reach CAGR 30% by 2027

  2. Key Insights from GaN & SiC Power Semiconductor Market: • With respect to the current pandemic, the GaN and SiC power semiconductor market was severely impacted since the spread of virus in 2020. Several projects in the solar energy generation landscape were halted during the first and second quarter of 2020. Additionally, decline in sales has led automotive OEMs to reduce their electric vehicle production capacity, impeding market growth. • Rampant development and roll out of 5G technology around the globe will offer new growth prospects to GaN and SiC power semiconductor manufacturers. These semiconductors are known for providing small form factor and high-power density, hastening their adoption whilst telecom operators augment infrastructure development. The GaN & SiC power semiconductor market is projected to surpass USD 4.5 billion by 2027. Constant initiatives taken by governments for adopting 5G technology will drive the expansion of the industry.

  3. Regional Insights in GaN & SiC Power Semiconductor Market: • Based on region, the Europe GaN & SiC power semiconductor market was valued at over USD 100 million in 2020 and is projected to grow at a 25% CAGR during the forecast period. • Rising favorable initiatives taken by the government to accelerate electric vehicle adoption are expected to boost the regional growth in the estimated timeframe. In March 2021, the German government announced to offer USD 6.5 billion funding for electric vehicle charging infrastructure. Such initiatives will provide an additional opportunity to regional players operating in the GaN & SiC power semiconductor market.

  4. Latest Research Report On GaN & SiC Power Semiconductor Market@ https://www.gminsights.com/industry-analysis/gan-and-sic-power-semiconductor-market Request for a sample of this research report @https://www.gminsights.com/request-sample/detail/3375

  5. Major Companies in GaN & SiC Power Semiconductor Market: • Fuji Electric Co., Ltd • Alpha and Omega Semiconductors • Mitsubishi Electric Corp. Microsemi Corp. • Infineon Technologies AG • Diodes Inc.

  6. Industry Coverage

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