Abstract
<fig orientation="portrait" position="float" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> <graphic orientation="portrait" position="float" xlink:href="bindr-3239979.tif"/> </fig> In last ten years or so, wide bandgap (WBG) devices, such as silicon carbide (SiC) and gallium nitride (GaN) power transistors, have made significant progress in reliability, performance, and cost, driving adoption of these devices in a wide range of applications. As a result, the GaN market is projected to be worth about US <inline-formula xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> <tex-math notation="LaTeX">$\$ $ </tex-math></inline-formula> 2 billion in revenues by 2027, according to market research firm Yole Développement. In 2021, the GaN market was valued at US <inline-formula xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> <tex-math notation="LaTeX">$\$ $ </tex-math></inline-formula> 126 million by Yole. Likewise, Yole expects SiC device market to grow beyond US <inline-formula xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> <tex-math notation="LaTeX">$\$ $ </tex-math></inline-formula> 6 billion by 2027 at a CAGR of 34%.
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