Gallium
Nitride Semiconductor Device Market is expected to be worth USD
22.47 Billion by 2023, growing at a CAGR of 4.6% between 2017 and 2023.
The major factors driving the
growth of the gallium nitride semiconductor device industry include the vast
addressable market for gallium nitride in consumer electronics and automotive,
wide bandgap 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.
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Power device to grow at the highest rate during the forecast
period
Gallium
nitride semiconductor device market for power devices is estimated to grow at
the highest CAGR during the forecast period. This is attributed to its ability
to minimize power loss and achieve high-speed switching with characteristics
such as miniaturization, high breakdown voltage, and high-speed switching.
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.
Market for consumer and enterprise expected to hold the largest
market size by 2023
The gallium
nitride semiconductor device for consumer and enterprise industry is expected
to hold the largest market size during the forecast period. In the consumer and
enterprise industry, gallium nitride light-emitting diode (LEDs) are widely
used in laptop and notebook display, mobile display, projectors, televisions
and monitor, and signs and large displays. Also, use of gallium nitride power
device in wireless charging is one of the upcoming opportunities contributing
to the growth of this industry.
APAC likely to hold the largest share of the gallium nitride
semiconductor device market during the forecast period
APAC is
expected to hold the largest share of the gallium nitride semiconductor device
market during the forecast period owing 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.
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The report
also profiles the most promising players in the gallium nitride semiconductor
device market. The competitive landscape of the market presents an interesting
picture of the strategies adopted by a large number of players. The key players
in this industry 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).
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