NEW YORK, Oct. 17, 2018 (GLOBE NEWSWIRE) -- The global gallium nitride (GaN) semiconductor devices market is expected to reach 2,967.1 million in 2024, at a CAGR of 14.2%. Factors driving the growth of the market are; increasing demand for power efficient electronic devices, rapid advancements in technology, growing application of semiconductor devices in various end-use industries, and rising investments in R&D by major semiconductor manufacturing companies. Moreover, rapid adoption of automated devices and increasing usage of the wireless charging are further propelling the market growth. Robots in healthcare sector with Gallium Nitride components have the ability to conduct delicate surgeries, which is expected to fuel the demand over the forecast period. Moreover, the potential usage of GaN in 5G infrastructure is also expected to propel the market growth over the forecast period. However, high production cost of GaN devices may restrain the market growth to some extent.
Gallium Nitride is a semiconductor compound, and is commonly used for improving the performance of electronics in various applications, including military radar, RF cell phone base stations among others. GaN based semiconductor materials are chemically stable and thermally robust. It offers high thermal conductivity and is more reliable as compared to silicon based semiconductor device. Further, GaN has the ability to conduct electrons at much faster rate than silicon, i.e. high carrier (electron) mobility. With light weight and compact size, it has resulted in the development of efficient electronic systems. Owing to these features, GaN semiconductors are becoming more suitable for space applications. Furthermore, GaN-based devices enable magnetic resonance imaging (MRI) systems to operate at higher frequencies. It also holds the potential in healthcare industry as it can be used in electrosurgical process, for cutting and coagulation of tissues.
Key findings from the report:
- On the basis of product, the global gallium nitride semiconductor devices market was dominated by radio frequency semiconductor devices in 2017. The power semiconductors segment is expected to grow with the highest CAGR over the forest period
- Based on wafer size, 8-inch wafer segment held the largest market share in 2017, and is expected to continue its dominance over the forecast period.
- On the basis of end-use, the consumer electronics segment held the major market share in 2017. The aerospace & defense sector is expected to exhibit a significant CAGR during the forecast period, owing to the rising demand for efficient and light weighted GaN-based semiconductor devices, and increasing investments in R&D activities
- Key players operating in the global GaN semiconductor devices market includes Cree, Inc.; NexgenPowerSystems; Efficient Power Conversion Corporation; Wolfspeed; GaN Systems, Inc.; Toshiba Corporation; NXP Semiconductors N.V.; Transphorm Inc.; Infineon Technologies AG; and Qorvo Corporation among others.
Rising adoption of GaN semiconductor devices in various end-use industries
Many end-use industries are widely opting gallium nitride semiconductor devices owing to various properties of the material including high temperature resistivity, low power consumption, high electron mobility, high breakdown voltage, and better thermal stability among others. These devices are majorly used in radio frequency (RF) amplifiers, light emitting diodes (LEDs), and power electronics. Increasing advancements in technology is also leading to the adoption of GaN semiconductor devices over Si-based semiconductor devices, as compound semiconductor (III-V group) wide-band gap gallium nitride exhibits higher functional integration. Moreover, it offers high thermal conductivity and operability even at high temperature, thus augmenting their applications in defense industry.
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Global GaN Semiconductor Devices Market - Regional Insight
North America is expected to dominate the global GaN semiconductor devices market during 2018-2024. The growth is attributed to rising government concerns for energy savings coupled with increasing capital investments in power electronics industry. Moreover, increasing usage of GaN transistors in defense is further boosting the market growth in the region. Asia-Pacific is expected to register the highest CAGR during the forecast period. The growth in the region is attributed to the rapid industrialization and globalization. Additionally, the market growth is also driven by growing consumer electronics industry and the increasing demand for mobile devices.
The report segments the global gallium nitride semiconductor devices market on the basis of product, wafer size, end-use, and region.
- By Product
- Power Semiconductors
- GaN Radio Frequency (RF) Devices
- Opto-semiconductors
- By Wafer Size
- 2 inch
- 4 inch
- 6 inch
- 8 inch
- By End-Use:
- Information and Communication Technology (ICT)
- Automotive
- Consumer Electronics
- Aerospace and Defense
- Energy and Power
- Healthcare
- Others
- By Region:
- North America
- U.S
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Middle East and Africa
- South America
- North America
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