Global Gallium Nitride Semiconductor Devices Market is valued approximately at USD 975 million in 2019 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2020-2027. Gallium Nitride (GaN) is a direct bandgap semiconductor material frequently used in LEDs since the year 1990s. The material is also used in the manufacturing of semiconductor power devices, as well as RF devices and systems. GaN has proven the capability to be the displacement technology for silicon semiconductors in radiofrequency (RF), power conversion, and analog applications. It further has a wide-ranging bandgap of 3.4 electronvolt (eV) and provides exclusive properties for applications in optoelectronic, high-frequency, and high-power devices. For instance, GaN is the semiconductor substrate that makes it possible to produce violet (405 nm) laser diodes, without the utilization of non-linear optical frequency-doubling. GaN-based semiconductors retain dynamic chemical and electrical, like high-saturation velocity and voltage breakdown, making them suitable for use in a variety of switching devices such as transistor. An increase in the adoption of GaN in electric vehicles and hybrid vehicles, coupled with increasing application in consumer electronic products are the few factors responsible for the impressive CAGR of the market during the forecast period. According to the survey of the International Energy Agency (IEA) in 2018, more than 1 million electric cars were sold in 2017 with more than half of global sales in China. Also, IEA also estimated that the total number of electric cars sold surpassed 2.1 million across the globe in the year 2019. Likewise, in 2019, China remains the world’s most advanced market for electric vehicle sales in absolute terms, with 2.3 million electric vehicles in active use. This, in turn, is expected to strengthen the market growth all over the world. However, the high material and production cost, coupled with intense competition from the substitutes are the few major factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Gallium Nitride Semiconductor Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in investment in aerospace and defense applications, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in smart grid projects along with the increasing rate of industrialization in developing countries, such as China and India, would create lucrative growth prospects for the Gallium Nitride Semiconductor Devices market across the Asia-Pacific region.
Major market player included in this report are:
NexGen Power Systems, Inc.
Efficient Power Conversion Corporation, Inc.
GaN Systems, Inc.
NXP Semiconductor N.V.
Texas Instruments Incorporated
Infineon Technologies AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
GaN Radio Frequency Devices
By Wafer Size:
Defense & Aerospace
Industrial & Power
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Gallium Nitride Semiconductor Devices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers