Increase in the use of energy-efficient power supply devices is driving the sales prospects in the GaN-based power supply adapter market. Furthermore, the sales of GaN-based power supply adapter is estimated to be driven on the back of many factors such as increasing use of GaN-powered devices across the globe. Due to these factors, the market is prognosticated to surpass the valuation of US$ 3 Bn by 2030, states a report by Transparency Market Research (TMR).
High Demand for Lightweight Products Fuels Market Growth
In recent years, consumers are inclining toward the use of lightweight adapters instead of chunky, heavy, and big. Thus, players in the global GaN-based power supply adapter market are growing focus on providing products as per the current market needs.
Players Focus on Development of Cost-efficient Products
Some of the key players operating in the GaN-based power supply adapter market are Anker Innovations Limited, ADG, AsusTek Computer Inc., CUI Inc., Belkin International, Inc., and Finepower GmbH.
Presence of many active players makes the competition landscape of GaN-based power supply adapter industry highly intense, which is encouraging market enterprises to execute different strategies such as mergers, acquisitions, collaborations, and partnerships.
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Major companies in the GaN-based power supply adapter industry are growing efforts for the development of cost-efficient products. Hence, they are seen increasing investments in R&D projects. Enterprises are comping up with unique adapter designs. Furthermore, they are strengthening their product offerings in order to attract new customer base. These factors are estimated to resulting into revenue-generating opportunities in the GaN-based power supply adapter market in the years ahead.
Growing Adoption of 90W Adapter Series with Dual Ports Drives Sales Growth in GaN-based Power Supply Adapter Market
Companies in the GaN-based power supply adapter market are experiencing high demand for 90W adapter series with dual ports, which can be used for the charging of a smartphone and a laptop, simultaneously. Hence, they are increasing production capabilities in products with such advanced ports. These trends are resulting into increasing the popularity of GaN as an advanced power semiconductor technology that can help in power density as well as energy saving.