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Global gallium nitride (GaN) semiconductor devices market worth more than $3.4 billion by 2024 explored in latest research

Industrial Market Research

Advancement in GaN technology and growing application areas of GaN semiconductor devices are expected to growth of GaN market.

Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Gallium Nitride (GaN) Semiconductor Devices Market Make an Inquiry about this news (Type: Power Semiconductor, Radio Frequency Devices, Opto Semiconductors; Application: Information and Communication Technology, Consumer Electronics, Defense and Aerospace, Automotive, Others; Wafer Size: 2 Inch, 4 Inch, 6 Inch, 8 Inch) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2015-2024”, estimates that the global GaN semiconductor devices market is projected to witness a significant growth, at a CAGR of around 17% during the period from 2016 to 2024 and reach the market value of more than $3.4 billion in 2024. 

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Geographically, North America was the largest market for GaN semiconductor devices closely followed by Europe. The growth in North America is mainly spurred by wider utilization of GaN based transistors in military applications.