According to a report published by Grand View Research, Inc.; the gallium nitride (GaN) semiconductor devices market is likely to reach a valuation of around USD 4.37 billion by 2025. Increasing demand in a variety of semiconductor devices and technological improvements in performance of GaN semiconductor devices can drive the market during the forecast period (from 2018 to 2025). Growing demand for energy-efficient power electronics, which use less power is projected to fuel market growth in the coming years. GaN-based semiconductors have dynamic mechanical and electrical properties such as saturation velocity and high-voltage breakdown. Thus, these semiconductors are extensively used in a varied range of switching devices.
The GaN-based semiconductors are also used in the defense industry due to their high thermal conductivity, high-temperature tolerance, and power density. Thus, rising expenditure on the defense sector in developed, as well as developing, countries is anticipated to boost the market growth in the coming years. Escalating demand for the Internet-of-Things (IoT) technology is also contributing toward the growth of the semiconductor devices as it offers several advantages including large electric filed, high breakdown voltage, and wider bandgap. These devices are also used in the healthcare industry in scanning equipment such as miniaturized x-ray machines MRI, and sonogram. This would further augment the market expansion in the years to come.
Full Research Report On Gallium Nitride (GaN) Semiconductor Devices Market Analysis:
Industry experts believe that GaN can serve as an alternative to silicon due its high efficiency and low power consumption competences. Therefore, it is considered as the most suitable material for manufacturing power electronic devices. In addition, GaN-based transistors offer benefits such as higher breakdown voltage with a wide ban, large electric field, and a high thermal conduction. These transistors are more efficient as compared to the silicon devices as they can be functional at high switch frequency and high-power density. The global gallium nitride (GaN) semiconductor devices market is segmented on the basis of product, wafer size, application, and region.
Based on product, the market is categorized into GaN radio frequency devices, power semiconductors, and opto-semiconductors. The GaN radio frequency devices sector is likely to grow at the maximum CAGR 20.4% from 2018 to 2025. On the basis of wafer size, the market is categorized into 2 inch, 4 inch, 6 inch, and 8 inch. The 6 inch wafer segment is expected to grow at the highest CAGR of 21.8 % from 2018 to 2025. On the basis of application, the market can be fragmented into automotive, consumer electronics, defense and aerospace, healthcare, information and communication technology, industrial and power, and others. The defense and aerospace sector is anticipated to register the maximum CAGR of 20.9 % during the forecast years.
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Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market in the pasta and valued at USD 322.5 million. Major expenses in the defense and aerospace industry for research and development is considered as the key driving factor for the region’s growth. The U.S. federal government is encouraging the implementation of energy-efficient devices, which is expected to create positive outlook for the market. For instance, government in the U.S. granted important contract to Raytheon Integrated Defense Systems to improve manufacturing of GaN semiconductor devices.
Asia Pacific is likely to witness the fastest growth in the coming years owing to high technological advancements resulting in a rise in the demand for high-performance RF components. The region is also expected to provide high growth opportunities for power electronics and optoelectronics devices. Some of the prominent companies operating in the gallium nitride (GaN) semiconductor devices market include Efficient Power Conversion Corporation, Inc.; GaN Systems, Inc.; Toshiba Corporation; and Fujitsu Ltd. These companies have undertaken strategic alliances and mergers and acquisitions as part of their market strategies and to develop advanced, more efficient GaN semiconductor devices.
For instance, Energous Corporation recently introduced a high-power, Near Field WattUp charging solution that features GaN-based 5-10W RF receiver IC and Power Amplifier (PA). It is designed for a variety of electronic devices including tablets, smartphones, smart speakers, drones, game controllers, and several others. The new product can charge devices with up to 10 watts of energy.
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