Global Gallium Nitride Semiconductor Devices Market Size Will Grow to USD 7.78 Billion at 21.6% CAGR by 2029: Polaris Market Research

NEW YORK, Jan. 20, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Gallium Nitride Semiconductor Devices Market Share, Size, Trends, Industry Analysis Report, By End-Use (Automotive, Industrial, Aerospace & Defense, Consumer Electronics, Healthcare, Information & Communication Technology, Others); By Product; By Component; By Wafer Size; By Region; Segment Forecast, 2021 - 2029" in its research database.

According to research report published by Polaris Market Research, the global Gallium Nitride Semiconductor Devices Market size expected to grow to USD 7.78 Billion by 2029 from USD 1.68 Billion in 2020, at a compound annual growth rate (CAGR) of 21.6% during forecast period 2021 to 2029.

What are Gallium Nitride Semiconductor Devices? How big is the Gallium Nitride Semiconductor Devices Market?

Overview:

The global gallium nitride (GaN) is a technologically advanced semiconductor compound used to make devices that produce high output power with small physical volume. Gallium Nitride (GaN) based semiconductors own properties, such as high thermal conduction, large electric field, higher saturation velocity, and high breakdown voltage. These features can enable industries to use them in a variety of switching devices, thus driving their demand. Power devices' requirement is higher since energy saving is becoming a top priority. However, two factors contributing to the losses in power devices are switching and conduction losses. GaN-based devices generally help reduce these losses.

Major research organizations such as The Air Force Research Laboratory, Max-Planck-Gesellschaft, and Helmholtz Association are focusing on the development of gallium nitride technologies. Gallium nitride's low power consumption capabilities and high efficiency make it apt material for manufacturing power electronic devices. The ongoing COVID-19 pandemic, which has forced lockdowns across several major countries, impacted sales of electronics products and the supply chain of gallium nitride semiconductor device manufacturers and suppliers in the value chain.

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Reasons To Purchase This Report:

• Provision of gallium nitride semiconductor device market value data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography with consumption of the product/service in the region
• Competitive landscape which incorporates the extensive company profiles
• The current as well as the future outlook of the industry with respect to recent developments
• In-depth analysis of market perspectives through Porter's five forces analysis
• Dynamics scenario, along with growth opportunities in the years to come

Top Companies Profile Covered in this Reports

• Efficient Power Conversion Corporation
• Fujitsu Ltd.
• GaN Systems Inc.
• MACOM Technology Solutions
• Qorvo Inc.
• Cree Inc.
• Infineon Technologies AG
• NexgenPower Systems
• NXP Semiconductor
• Texas Instruments Incorporated
• Toshiba Corporation
• Analog Devices Inc.
• Sumitomo Electric Industries
• ST Micro Electronics

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Frequently Asked Questions About This Report

• How big is the gallium nitride semiconductor device market?
• What is the gallium nitride semiconductor device market growth?
• Which segment accounted for the largest share?
• Who are the key players?
• What are the factors driving the market?
• What segments are covered?
• What are the opportunities for the existing players and for those who are planning to enter?

Global Gallium Nitride Semiconductor Devices Market: Growth Drivers

GaN is utilized as the perfect replacement material for silicon in medium-voltage power applications across the semiconductor industry. The rising high-speed revolution in power electronics, replacement of conventional silicon-based technology with advanced gallium nitride-based technology, wide use of bandgap technology to the broadest possible range, shrinking printed circuit boards (PCB) wafer size, or miniaturization in electronics are some of the key factors driving the global gallium nitride semiconductor devices market growth.

Industries also find gallium nitride useful in 5G infrastructure which is expected to augment market growth. Its increasing use in the defense and aerospace sector is expected to fuel the market growth. Moreover, crucial factors giving an impetus to GaN's adoption are high voltages, high reliability, and flexibility in power rectification, power factor correction, and power amplification, surpassing pure silicon significantly.

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Global Gallium Nitride Semiconductor Devices Market: Report Scope

Global Gallium Nitride Semiconductor Devices Market: Key Segmentation

The market is segmented on the basis of product, component, wafer size, end-use, and region.

• Insight by Product

The opto-semiconductors product segment dominated the market in 2020 and is anticipated to record the highest revenue share in 2021 for the market, owing to the application of opto-semiconductors in devices such as LEDs, solar cells, photodiodes, lasers, and optoelectronics, among others.

The GaN radio frequency devices segment may dominate the market with a high CAGR over the forecast period of 2021 to 2028 thanks to their high performance at moderate cost features.  Also, the power semiconductors market segment is likely to register the highest CAGR over the forecast period attributing to rising demand for high-frequency switching devices across industry sectors like consumer electronics, automotive, and aerospace industries. 

• Insight by Component

Based on components, the market is bifurcated into the transistor, diode, rectifier, and Power IC. The power IC market segment is expected to progress at the highest CAGR. This can be largely attributed to the growing demand for compact electronics, advancements in wireless communications, and worldwide usage of next-generation mobile networks.

• Insight by Wafer Size

The 4-inch segment accounted for a market share of over 35% as they facilitate moderate size and large-scale production of semiconductor devices. The factors responsible for the rapidly increasing implementation of 4-inch wafers are they overcome the 2-inch wafers' limitations and are widely used in semiconductor product-based industries.

• End-use Insights

The Information and Communication Technology (ICT) end-use segment recorded the highest revenue share in 2020, backed by contributors such as the increasing adoption of the Internet of Things (IoT) technology. In addition, GaN-based semiconductors are generally used in Distributed Antenna Systems (DAS), small cell, and remote radio head network densification. Moreover, the Aerospace & Defense segment has also dominated the market owing to the growing applications of GaN technology in the defense & aerospace sector to raise the bandwidth and performance reliability in communications, electronic warfare, and radars, among others.

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Geographic Overview: Gallium Nitride Semiconductor Devices Market:

North America has positively influenced the market in 2020. Factors that boosted this regional market growth involve an output of increasing investments by the defense and aerospace industry in research and development. Various companies operating in the region are receiving encouragement about the adoption of energy-efficient devices as well as the reduction of energy losses.

The Asia Pacific gallium nitride semiconductor devices market is anticipated to attend the fastest growth during the projected time frame. The key factors giving rise to this growth include the rising consumer electronics with the rapid increase in urbanization, increase in integrated electronics in the automotive industry, and rapid technological developments in the region.

Browse the [135+ Pages] Detail Report "Gallium Nitride Semiconductor Devices Market Share, Size, Trends, Industry Analysis Report, By End-Use (Automotive, Industrial, Aerospace & Defense, Consumer Electronics, Healthcare, Information & Communication Technology, Others); By Product; By Component; By Wafer Size; By Region; Segment Forecast, 2021 - 2029" with in-depth TOC:  https://www.polarismarketresearch.com/industry-analysis/gan-gallium-nitride-semiconductor-devices-market

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Gallium Nitride Semiconductor Devices Market: By Product Outlook

• GaN Radio Frequency Devices
• Opto-semiconductors
• Power Semiconductors

Gallium Nitride Semiconductor Devices Market: By Component Outlook

• Transistor
• Diode
• Rectifier
• Power IC
• Others

Gallium Nitride Semiconductor Devices Market: By Wafer Size Outlook

• 2-inch
• 4-inch
• 6-inch
• 8-inch

Gallium Nitride Semiconductor Devices Market: By End-Use Outlook

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

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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