Pune, India, Jan. 25, 2021 (GLOBE NEWSWIRE) -- The global gallium nitride device market is set to gain impetus from the high demand for fast chargers worldwide. This information is given by Fortune Business Insights™ in a new study, titled, “Gallium Nitride Device Market Size, Share & COVID-19 Impact Analysis, By Device Type (Opto-Semiconductor Device, Power Semiconductor Device, and RF Semiconductor Device), By Wafer Size (2-Inch Wafer, 4-Inch Wafer, and 6-Inch and Above Wafer), By Component (Transistor, Diode, Rectifier, Power IC, and Other), By Application (Light Detection & Ranging, Wireless and EV Charging, Radar and Satellite Radio Frequency, and Others), By End User (Aerospace, Defense, Healthcare, Renewables, Information and Communication Technology, and Others) and Regional Forecast, 2020-2027.” The study further mentions that the GaN device market size was USD 20.56 billion in 2019 and is projected to reach USD 28.40 billion by 2027, exhibiting a CAGR of 4.28% during the forecast period.
COVID-19: Increasing Sales of Smartphones and Laptops to Affect Growth
The COVID-19 pandemic is set to positively affect growth. Governments of various countries have implemented stringent lockdown measures to curb the spread of coronavirus. Owing to the work from culture, nowadays people are investing more in smartphones, IoT-based devices, laptops, and chargers. These factors are expected to surge the sales of these devices throughout 2020. We are also delivering accurate research reports to help you battle this pandemic and regain business confidence.
Get Sample PDF Brochure with Impact of COVID19:
Competitive Landscape-
Key Companies Focus on Winning New Contracts to Intensify Competition
The global market for gallium nitride devices is highly fragmented with the presence of numerous reputed manufacturers. Most of them are focusing on achieving new contracts from significant governments, as well as private agencies to deliver their in-house products.
Below are the two latest industry developments:
- June 2020: Raytheon Missiles & Defense provided a contract worth USD 2.3 billion to the U.S. Missile Defense Agency (MDA). The latter will deliver seven GaN-based Army Navy/Transportable Radar Surveillance (AN/TPY-2) units. It is a part of the company’s Terminal High Altitude Area Defense (THAAD) system.
- July 2019: Transphorm announced a new contract worth USD 18.5 million from the U.S. Department of Defense (DoD) Office of Naval Research (ONR). It includes a Base Program that is aimed at commercializing nitrogen polar GaN.
List of Top Manufacturers Present in the Global Gallium Nitride Device Market are:
- Cree, Inc. (The U.S.)
- Infineon Technologies AG (Germany)
- Efficient Power Conversion Corporation. (The U.S.)
- EPISTAR Corporation (Taiwan)
- GaN Systems (Canada)
- MACOM (The U.S.)
- Microsemi (The U.S.)
- Mitsubishi Electric Corporation (Japan)
- NICHIA CORPORATION (Japan)
- Northrop Grumman Corporation (The U.S.)
- NXP Semiconductors. (Netherland)
- Qorvo, Inc (The U.S.)
- Texas Instruments Incorporated. (The U.S.)
- Toshiba Corporation (Japan)
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/gallium-nitride-gan-devices-market-103367
How Did We Develop This Report?
We have conducted extensive primary and secondary research to gather information about various aspects of this report. Our special interviews with end user respondents and supply side respondents helped in gaining insights into the average pricing, per capita consumption trend, average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed industry journals, articles published by several magazines, and press releases of firms present in the field of aerospace and defense.
Key Drivers & Restraints-
Expansion of Telecommunications Domain to Accelerate Growth
The demand for energy-efficient GaN devices is surging rapidly owing to the expansion of the telecommunications domain. Most of the internet service providers are nowadays focusing on providing lower latency with optical cable wires, ubiquitous connectivity, and network with higher capacity. Apart from that, the rising utilization of GaN devices in the 5G infrastructure is likely to propel the gallium nitride device market growth in the near future. However, the high cost associated with the maintenance and development of gallium nitride devices may hinder growth.
Segment-
Opto-semiconductor Device Segment to Grow Rapidly Backed by Increasing Usage in Lasers
Based on device type, the opto-semiconductor device segment procured the highest gallium nitride market share in 2019. This growth is attributable to their increasing usage in various aerospace applications, such as Light Detection and Ranging (LiDAR) and pulsed lasers. Besides, they are used in optoelectronics, LEDs, lasers, photodiodes, and solar cells.
Regional Insights-
High Demand for Wireless Devices to Favor Growth in Europe
Geographically, North America generated USD 7.38 billion in 2019 because of the presence of numerous prominent manufacturers, such as MACOM, Cree, Inc., Northrop Grumman Corporation, Efficient Power Conversion Corporation, Microsemi, and others in this region.
Europe, on the other hand, is anticipated to grow significantly on account of the rising demand for wireless devices in Germany, France, and the U.K. In Asia Pacific, the rising demand for gallium nitride devices from emerging nations, such as India and China would aid growth.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/gallium-nitride-gan-devices-market-103367
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Gallium Nitride Device Market
-
- Impact of COVID-19 Pandemic on Global Gallium Nitride Device Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Potential Opportunities due to COVID-19 Outbreak
-
- Global Gallium Nitride Device Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Device Type
- Opto-Semiconductor Device
- Power Semiconductor Device
- RF Semiconductor Device
- Market Analysis, Insights and Forecast – By Wafer Size
- 2-Inch Wafer
- 4-Inch Wafer
- 6-Inch and Above Wafer
- Market Analysis, Insights and Forecast – By Component
- Transistor
- Diode
- Rectifier
- Power IC
- Others
- Market Analysis, Insights and Forecast – By Application
- Light Detection & Ranging
- Wireless and EV Charging
- Radar and Satellite Radio Frequency
- Others
- Market Analysis, Insights and Forecast – By End User
- Aerospace
- Defense
- Healthcare
- Renewables
- Information and Communication Technology
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-pacific
- Middle East
- Rest of the world
TOC Continued…!
Speak to Our Expert:
Have a Look at Related Research Insights:
Voice Communication Control System Market Size, Share and COVID-19 Impact Analysis, By Solution (Hardware, Software, and Services), By Platform (Air, Ground, and Maritime), By Application (Air Traffic Control, Vessel Traffic Control, Strategic Emergency Services, and Others), By End User (Commercial, and Defense), and Regional Forecast, 2020 - 2027
Avionics Market Size, Share & COVID-19 Impact Analysis, By System (Hardware and Software), Platform (Commercial, Military, Business Jets, General Aviation), End-Use (OEM and Aftermarket), and Regional Forecast, 2020-2027
Air Traffic Control Market Size, Share and Industry Analysis, by Point of Sale (Hardware, Software, and Services), By Airspace (Air Route Traffic Control Centers (ARTCC), Terminal Radar Approach Control (TRACON), Air Traffic Control Tower (ATCT), and Remote Tower (RT)), By Application (Communication, Navigation, Surveillance, and Automation), By Airport Size (Small, Medium, and Large),and Regional Forecast, 2020- 2027
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-gallium-nitride-gan-device-market-10471