The GaN Based Power Device Market is estimated to grow from USD 119.3 million in 2020 to USD 719.7 million by 2026 at a healthy CAGR of 35.8% during the forecast period. Gallium nitride (GaN) transistors have evolved as a stronger performance substitute of silicon-based transistors, thanks to their ability to fabricate more compact devices for a given resistance value & breakdown voltage as compared to silicon devices.