Wilmington, Delaware, United States, April 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The research report by TMR on the GaN semiconductor devices market includes technical data presented with the strength and business manufacturing of key manufacturers. According to the GaN semiconductor devices market report by TMR, the global industry is expected to grow significantly during the forecast period of 2022-2031 due to the rise in demand for semiconductors across several industry verticals.
As per the market research, the industry was worth US$ 1.85 Bn in 2021, and it is estimated to expand at a CAGR of 27.4% from 2022-2031 and reach US$ 19.5 Bn by the end of 2031. GaN (Gallium Nitride) is widely used in semiconductor power devices and has replaced silicon semiconductors efficiently.
GaN technology is being employed in numerous technical and commercial manufacturing processes across the globe. GaN technology ensures smooth operation and safeguards the semiconductor. Widespread adoption of semiconductors in electronic products is estimated to lead to market growth.
The primary driver of the expansion of the global market is the wide application of Gan in end-use industries such as electronics, IT & telecommunication, aerospace & defense, healthcare, food & beverages, automotive, and transportation. In addition, the emergence of new specifications and expansion of the Internet of Things (IoT) have opened up new avenues for the GaN semiconductor devices market.
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GaN Semiconductor Devices Market: Growth Drivers
- GaN semiconductor devices are witnessing significant demand in consumer electronics is due to its multi voltages support that helps in connections with laptops, smartphones, and other items. The efficiency of these semiconductors in power distribution during high voltage powers requirement by reducing AC/DC conversions has augmented its demand in high power applications in telecommunication and industrial sectors.
- Rising penetration of 5G communication has fueled the demand for gallium nitride semiconductor devices to enhance the speed of signal transmissions. Furthermore, these devices help improve signal-to-noise ratio and transmit accurate signals. Extensive application of gallium nitride in high power radio frequency devices has created lucrative growth opportunities for the global business.
- Rise in demand for reliable and cost-efficient semiconductors is anticipated to propel the sales of GaN semiconductor devices.
Key Drivers of GaN Semiconductor Devices Market
- The transistor application segment is estimated to witness significant growth due to diverse applications of gallium nitride in digital electronics. Due to its exceptional performance and utmost dependability, particularly in severe settings, GaN is also employed in digital electronic applications including space exploration, telecommunications, air traffic control, and radar.
- The market demand for transistors in GaN semiconductor device is expected to be driven by increase in consumer preference for electric gadgets owing to technological advancements and rise in disposable income of individuals in developing countries.
- The 4 inch wafer size segment is expected to lead the market due to its wide applications in power supply and communication devices. Moreover, these wafers bear more strength as compared to 1 or 2 inch wafers. This, in turn, is driving the 4 inch wafers segment.
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GaN Semiconductor Devices Market: Regional Perspective
The market in Asia Pacific is projected to expand significantly during the forecast period. Rise in demand for telecom and automobiles coupled with high rate of adoption of 5G networks in countries, such as China and Japan, is projected to propel the Asia Pacific market size in the next few years. North America is expected to hold a significant share of the global market during the forecast period due to the rapid increase in adoption of technology and well-equipped infrastructure in the region.
GaN Semiconductor Devices Market: Competitive Landscape
Rigorous R&D activities and innovations play a crucial role in market growth. Novel product launches prove to be significant as engaging into mergers, acquisitions, joint ventures, collaborations, and partnerships by key players help them to consolidate their position in the market. Startups are helping to drive innovation and growth in the market and are expected to play an incredible role in the coming years.
They are also providing a significant challenge to established players in the market and are forcing them to innovate and offer more specialized products to meet the changing needs of customers. This aspect eventually contributes to the growth of the GaN semiconductor device market. Novel product launches with high power conversion efficiency, which can be effectively used in wireless LANs, have created ample growth opportunities for the global market.
The key players operational in the global market include
- NXP Semi-Conductors
- Analog Devices Inc
- Navitas Semiconductor
- Renesas Electronics Corporation
- Transphorm Inc
- Qorvo Inc
- Fujitsu
- Efficient Power
- CGD Cambridge GaN Devices
- Texas Instruments Incorporated
- Infineon Technologies
Key Points from TOC:
1. Preface
1.1. Market Introduction
1.2. Market and Segments Definition
1.3. Market Taxonomy
1.4. Research Methodology
1.5. Assumption and Acronyms
2. Executive Summary
2.1. Global GaN Semiconductor Devices Market Overview
2.2. Regional Outline
2.3. Industry Outline
2.4. Market Dynamics Snapshot
2.5. Competition Blueprint
3. Market Dynamics
3.1. Macro-economic Factors
3.2. Drivers
3.3. Restraints
3.4. Opportunities
3.5. Key Trends
3.6. Regulatory Scenario
4. Associated Industry and Key Indicator Assessment
4.1. Parent Industry Overview – Global Power Semiconductor Industry Overview
4.2. Supply Chain Analysis
4.3. Pricing Trend Analysis
4.4. Technology Roadmap Analysis
4.5. Industry SWOT Analysis
4.6. Porter Five Forces Analysis
4.7. Covid-19 Impact and Recovery Analysis
5. GaN Semiconductor Devices Market Analysis, by Component
5.1. GaN Semiconductor Devices Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Component, 2017–2031
5.1.1. Transistor
5.1.2. Gate Driver IC
5.1.3. Power IC
5.1.4. Controller
5.1.5. Power Amplifier
5.1.6. Others
5.2. Market Attractiveness Analysis, by Component
6. GaN Semiconductor Devices Market Analysis, by Wafer Size
6.1. GaN Semiconductor Devices Market Size (US$ Mn) Analysis & Forecast, by Wafer Size, 2017–2031
6.1.1. 1 & 2 Inch
6.1.2. 4 Inch
6.1.3. 6 Inch
6.1.4. 8 Inch
6.1.5. 12 Inch
6.2. Market Attractiveness Analysis, by Wafer Size
TOC Continued……
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GaN Semiconductor Devices Market: Segmentation
Components
- Transistor
- Gate Driver IC
- Power IC
- Controller
- Power Amplifier
- Others (switches, monolithic microwave integrated circuits)
Wafer Size
- 1&2 inch
- 4 inch
- 6 inch
- 12 inch
Application
- Defense Communication Devices
- Telecom & Datacom Server
- Chargers & Adapters
- Wireless Charging
- Battery Test System
- Energy Storage System
- HVAC
- Electronic Devices
- Smartphones
- Laptops & notebooks
- Others (cable TV, CPEs, etc.)
- Others (motor drives, robot, etc.)
End-use Industry
- IT & Communication
- Consumer Electronics
- Automotive& Transportation
- Aerospace & Defense
- Energy& Utility
- Industrial
- Others (Healthcare, Food & Beverages, etc)
Regions
- North America
- South America
- Europe
- Asia pacific
- Middle East & Africa
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