Global GaN Semiconductor Devices Market Projected to Touch US$3,438.4 mn by 2024

An insightful study, titled “GaN Semiconductor Devices Market” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). This research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report.

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Around 65.0% share in the global gallium nitride (GaN) semiconductor devices market in 2015 was held by the top four companies, namely Cree Inc., NXP Semiconductors N.V., GaN Systems Inc., and Efficient Power Conversion Corporation. This made the overall competitive landscape consolidated and till date it remains so.

Despite being consolidated, the competition in the global market for gallium nitride (GaN) semiconductor devices is healthy as players focus on research and development to overcome issues in the product and bring about more useful ones. This is expected to stoke good growth in the market.

A report prepared after thorough primary and secondary research finds that the market for gallium nitride (GaN) semiconductor devices will make gigantic progress in the near future by expanding at a phenomenal 17.0% CAGR from 2016 to 2024. At this rate, the market value will likely speed from US$870.9 mn in 2015 to US$3,438.4 mn by 2024.

Gallium nitride (GaN) semiconductor devices find application in different end-use sectors such as automotive, information and communication technology, defense and aerospace, and consumer electronics, among others. The segment of defense and aerospace, of them, dominated the market with a substantial share of 42.0% in 2015.

North America, Europe, Asia Pacific, and the Middle East and Africa are some of the key geographic segments in the global market for gallium nitride (GaN) semiconductor devices. North America, among them, holds a leading share. Buoyed by the military and defense and consumer electronics sector, the market in the region is expected to rise at a rapid clip in the next couple of years. report expects it to attain a value of US$266.4 mn by the end of the forecast period.

Key unique perceived benefits of gallium nitride (GaN) semiconductors are low power consumption, increased resistance to temperature, thermal stability, high breakdown voltage, and high electron mobility. These have led to GaN being identified as a green technology in various industries. As a result, GaN semiconductor devices are finding widespread usage in light emitting diodes (LEDs), radio frequency (RF) amplifiers, and power electronics.

One drawback of gallium nitride (GaN) semiconductor devices is that they are costly due to the high costs incurred in producing gallium nitride as compared to silicon carbide. In addition, packaging, fabrication, and support electronic charges too have driven up their prices, thereby affecting sales. However, with advancement in the GaN technology, which can bring about bulk production, the issue can be tackled.

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So far, there is no popular method for bulk production due to the requirement of high operating pressure and temperature and lesser scalability of the material. Further, declining prices of silicon-based semiconductors have also served to dampen demand in the market.

A comprehensive analysis of market dynamics, which include the market drivers, restraints and opportunities, is included under the scope of the report. Market dynamics are the distinctive factors that influence the growth of the specific market and therefore help to study the current trends in the global market. Additionally, list of top GaN based IC manufacturers have also been included under the scope of the research. Thus, this report provides an inclusive study of the global GaN semiconductor devices market and also provides the forecast of the market for the period from 2016-2024.

Some of the major players in the market are: Mersen S.A., Avogy, Inc., Fujitsu Limited, GaN Systems Inc., Cree Inc., NXP Semiconductors N.V., Renesas Electronics Corporation, Toshiba Corporation, Everlight Electronics Co. and Efficient Power Conversion Corporation

The global GaN semiconductor devices market has been segmented into:

Global GaN semiconductor devices market, by Products

Power Semiconductors
GaN Radio Frequency Devices
Opto-semiconductors

Global GaN semiconductor devices market, by Wafer Size: The market is broadly segmented on the basis of wafer size into:

2 inch
4 inch
6 inch
8 inch

Global GaN semiconductor devices market, by Application: The market is broadly segmented on the basis of application into:

Information and Communication Technology
Automotive
Consumer Electronics
Defense and Aerospace
Others

Global GaN semiconductor devices market, by Geography: The market is broadly segmented on the basis of geography into:

North America
Europe
Asia Pacific
Rest of the World

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