Gallium Nitride Semiconductor Devices Sales in Information & Communication Technology (ICT) Sector to Increase by 20%, Fact.MR Report

NEW YORK, March 16, 2022 /PRNewswire/ -- The overall sales of gallium nitride (GaN) semiconductor devices are estimated to reach US$ 1.23 Bn in 2022. The gallium nitride (GaN) semiconductor devices market is anticipated to reach US$ 11.99 Bn, registering staggering growth at 23% CAGR during the forecast period (2022-2032).

Growing demand for lower costs, higher energy efficiency, and faster device speed in industrial and power industry is projected to create prolific opportunities for gallium nitride semiconductor devices over the silicon devices.

Apart from this, gallium nitride is extensively used for reducing vehicle charging time, cost-effectiveness, and to boost driving range in electric vehicles. This is likely to boost the sales in automotive industry.

Increasing venture capital funding for the development and advancements of GaN technology across the automotive, consumer, industrial, and enterprise markets is another factor bolstering the sales in the market.

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For instance, Cambridge GaN Devices, a fabless semiconductor company, raised US$ 9.5 million in February 2021 in a Series A round. A slew of such initiatives is anticipated to aid the growth in the gallium nitride semiconductor devices market.

In addition to this, growing adoption of 5G multi-chip modules by various semiconductor companies for energy-efficient mobile networks is likely to drive the market in the coming years.

Demand for gallium nitride semiconductor devices in servo drives for robotics and motion control will further create growth prospects for the market.

Also, increased funding provided by the government bodies, defense, and aerospace industry in research & development (R&D) activities conducted in semiconductor companies is expected to spur the sales in the market.

Key Takeaways:

• Based on end-use, the information & communication technology (ICT) segment is expected to account for 20% of overall share in 2021.
• In terms of wafer size, 4-inch wafers segment is expected to hold 35% of the overall market share.
• By component, the transistor is expected to dominate the market due to the increasing adoption of 4G technology-enabled devices and GaN-based power transistors in the telecommunication sector.
• Based on product type, the opto-semiconductors segment is expected to dominate the market in 2022, accounting for more than 35% of market share.
• Asia Pacific is anticipated to exhibit fastest growth during the forecast period, exhibiting growth at a CAGR of 19%.

Growth Drivers:

• Increasing usage of wireless electronic devices coupled with the expansion of telecommunication infrastructure is driving the growth in the market.
• Growing demand for high-performance RF components will further spur the sales of gallium nitride semiconductor devices.
• High demand for gallium nitride semiconductor devices in the IoT-enabled products for low power consumption and high-efficiency will propel the sales.

Restraints:

• Growing popularity of silicon carbide (SiC) as an alternative source for high-voltage semiconductor applications is projected to hamper the growth of the market.
• High maintenance cost of the gallium nitride components might hinder the sales of gallium nitride semiconductor devices.

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Competitive Landscape:

Key players operating in the global gallium nitride semiconductor devices market are strengthening their global footprints by focusing capacity enhancements to gain a competitive edge in the market.

For instance,

• February 2021: Efficient Power Conversion Corporation introduced "EPC9157," which is a combination of Renesas ISL 81806 and EPC2218 eGAN. The high performance of GaN was used by Renesas ISL 81806 to enable high-power solutions and lower bill of material (BOM) cost, which is similar to silicon-built FETs.

Key Companies Profiled by Fact.MR

• Toshiba Corporation
• FUJITSU
• Cree Inc.
• NexgenPowerSystems
• Efficient Power Conversion Corporation
• GaN Systems
• Texas Instruments Incorporated
• NXP Semiconductor
• Qorvo Inc.

More Valuable Insights on Gallium Nitride Semiconductor Devices Market

Fact.MR, in its report, offers a market analysis on the global gallium nitride semiconductor devices market providing unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals the growth of technology in the gallium nitride semiconductor devices market with detailed segmentation as follows:

By Product

• GaN Radio Frequency Devices
• Gallium Nitride Opto-semiconductor Devices
• Gallium Nitride Power Semiconductor Devices

By Component

• Gallium Nitride Semiconductor Transistor
• Gallium Nitride Semiconductor Diode
• Gallium Nitride Semiconductor Rectifier
• Gallium Nitride Semiconductor Power IC
• Other Gallium Nitride Semiconductor Components

By Wafer Size

• 2-inch Gallium Nitride Semiconductor Devices
• 4-inch Gallium Nitride Semiconductor Devices
• 6-inch Gallium Nitride Semiconductor Devices
• 8-inch Gallium Nitride Semiconductor Devices

By End Use

• Automotive
• Consumer Electronics
• Defense & Aerospace
• Healthcare
• Industrial & Power
• Information & Communication Technology
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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Key Questions Covered in the Gallium Nitride Semiconductor Devices Market Report

• At what rate will the global gallium nitride semiconductor devices market grow until 2032?
• What is the expected market size of global gallium nitride semiconductor devices market in 2022?
• Which region is expected to account for maximum share in the global gallium nitride semiconductor devices market?
• What is the anticipated market valuation of the gallium nitride semiconductor devices market during 2022-2032?
• Who are the prominent players in the global gallium nitride semiconductor devices market?

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