This research report predicts the Gallium Nitride Semiconductor Device Market reaching $ 22.47 billion by 2023.
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Gallium Nitride Semiconductor Device Company analysed in report are Cree (US), Samsung (South Korea), Infineon (Germany), Qorvo (US), MACOM (US), Microsemi Corporation (US), Analog Devices (US), Mitsubishi Electric (Japan), Efficient Power Conversion (US), GaN Systems (Canada), Exagan (France) , VisIC Technologies (Israel), Integra Technologies (US), Transphorm (US), Navitas Semiconductor (US), Nichia (Japan), Panasonic (Japan), Texas Instruments (US), Ampleon (Netherlands), Sumitomo Electric (Japan), Northrop Grumman Corporation (US), Dialog Semiconductor (UK), and Epistar (Taiwan).
“The Gallium Nitride Semiconductor Device market is estimated to witness significant growth between 2017 and 2023”
Key factors driving the growth of the Gallium Nitride Semiconductor Device include the vast addressable market for gallium nitride in consumer electronics and automotive, wide band gap property of gallium nitride material encouraging innovative applications, success of gallium nitride in RF power electronics, and increasing adoption of gallium nitride RF semiconductor device in military, defense and aerospace application. However, the preference of silicon carbide in high-voltage power semiconductor devices is expected to be a potential restraint for the overall gallium nitride semiconductor devices market.
This is expected to limit the market growth over the next few years.
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“The global gallium nitride semiconductor device market for opto-semiconductor device type held the largest market share in 2016”
The global gallium nitride semiconductor device market for opto-semiconductor device type held the largest market share in 2016. This is attributed its wide application in consumer and enterprise, industrial, and automotive industry.
Gallium nitride light-emitting diodes (LEDs) are widely used in laptop and notebook display, mobile display, projectors, televisions and monitor, signs and large displays, etc. The use of gallium nitride-based LEDs for the interior and exterior lightings such as headlights and signal lights, car interior lighting, fog lights, stop lights, and dome lights in the automotive industry has also contributed to the larger market size.
“Power drives market is expected to witness a significant growth between 2017 and 2023”
The market for gallium nitride-based power drives is expected to grow significantly during the forecast period attributed to its superior features such as minimum power loss, high-speed switching miniaturization, and high breakdown voltage as compared with the silicon-based power devices. Also, the large total addressable market such as power distribution systems, industrial systems, heavy electrical systems, turbines, heavy machinery, advanced industrial control systems, and electromechanical computing/computer systems; and is also inclusive of several new power applications (clean-tech) such as high-voltage direct current (HVDC), smart grid power systems, wind turbines, wind power systems, solar power systems, and electric and hybrid electric vehicles are among the prime reasons for its faster growth.
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“APAC held the largest market share in 2016 and is expected to exhibit considerable growth during the forecast period”
APAC is expected to hold the largest share of the gallium nitride semiconductor device market during the forecast period. This is attributed to the increasing demand for LEDs in various industries such as consumer and enterprise, industrial, and automotive.
Further, EV charging, and electric vehicle production markets, and increasing renewable energy generation are driving the market in APAC.
The break-up of the profiles of primary participants for the report has been given below.
- By Company Type: Tier 1 = 57%, Tier 2 =24%, and Tier 3 = 19%
- By Designation: C-Level Executives = 55%and Manager Level= 45%,
- By Region: North America = 40%, Europe = 15%, APAC =35%, and Rest of the World=10%
Research Coverage: In this research report, the Gallium Nitride Semiconductor Device market is segmented on the basis of product type, technology, application, and geography. The market has been segmented on the basis of product type into differential, absolute, gauge, vacuum, and sealed.
Based on technology, the Gallium Nitride Semiconductor Device market has been classified into piezo resistive, capacitive, electromagnetic, resonant, optical, and others. The market has been segmented by application into automotive, oil & gas, consumer electronics, medical, industrial, utilities, aviation, marine, and others.