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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