Gallium Nitride Semiconductor Devices Market to get driven by Opto-semiconductor-based Devices, states Fact.MR

Seoul, South Korea, July 20, 2022 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, has expressed that the global Gallium Nitride Semiconductor Devices market would be valued at US$ 1.23 Bn in 2022 and go for a substantial CAGR of 23% between 2022 and 2032. Fact.MR mentions that with advantages offered by Gallium Nitride (GaN) Semiconductor devices over various silicon devices, the Gallium Nitride Semiconductor devices market is bound to stand tall in the near future. The benefits of GaN include lower costs, better operating speed, and higher efficiency.

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The opto-semiconductors segment is expected to dominate the market in 2022. Accounting for more than 35% share of the global revenue during the forecast period. This can be largely attributed to the application of opto-semiconductors in devices such as LEDs, solar cells, photodiodes, lasers, and optoelectronics.

The automotive sector is increasingly utilizing opto-semiconductors in automotive lights, indoor and outdoor lighting, and pulse-powered laser. This is subsequently propelling the adoption of opto-semiconductors in the automotive and consumer electronics industries. Furthermore, opto-semiconductors are being widely used in applications such as Light Detection and Ranging (LiDAR) and pulsed laser, which bodes well for the growth of the segment.

What Drives Demand for gallium nitride semiconductor devices in Asia Pacific Countries?

Increased Requirement of high-performance RF Components

The Asia Pacific regional market is expected to emerge as the fastest-growing regional market over the forecast period, flourishing at a CAGR of 19%, owing to the rapid technological advancements that are leading to the increased demand for efficient and high-performance RF components.

This is a key factor boosting the growth of the regional market. The growing defense budget in countries such as China, India, and South Korea has resulted in the increased demand for robust communication devices, which is expected to drive the demand for GaN-based RF devices.

The significant increase in the adoption of wireless electronic devices and the proliferation of telecommunication infrastructure in the Asia Pacific region are further driving the market.

To learn more about Gallium Nitride Semiconductor Devices Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7137

Key Segments Covered in the Digital Transaction Management Industry Survey

• 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

Competitive Landscape

The key participants are into tabling innovative products backed by strategic mergers & acquisitions in the Gallium Nitride Semiconductor Devices Market.

•      Efficient Power Conversion Corporation, in February 2021, did launch EPC9157. It implies integration of Renesas ISL 81806 with EPC2218 eGaN for achieving efficiency of more than 90%. Apart from increased efficiency, the design is simple and analogous to FETs consisting of silicon.

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Key players in the Gallium Nitride Semiconductor Devices Market

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

Key Takeaways from Gallium Nitride Semiconductor Devices Market Study

• The global Gallium Nitride Semiconductor Devices market is bound to reach US$ 11.99 Bn by the year 2032.
• The global Gallium Nitride Semiconductor devices market registered a valuation of US$ 1 Bn in the year 2021.
• The US accounts for 30% of the global Gallium Nitride Semiconductor devices market.
• Opto-semiconductor-based devices are expected to help the Gallium Nitride Semiconductor Devices Market stand in a good stead in the forecast period.
• Demand for 4-inch GaN semiconductor devices is expected to escalate in the upcoming period.
  
  

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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Industrial Goods across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

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