According to a report
published by Grand View Research, Inc.; the gallium
nitride (GaN) semiconductor devices market is likely to reach a
valuation of around USD 4.37 billion by 2025. Increasing demand in a variety of
semiconductor devices and technological improvements in performance of GaN
semiconductor devices can drive the market during the forecast period (from
2018 to 2025). Growing demand for energy-efficient power electronics, which use
less power is projected to fuel market growth in the coming years. GaN-based
semiconductors have dynamic mechanical and electrical properties such as
saturation velocity and high-voltage breakdown. Thus, these semiconductors are
extensively used in a varied range of switching devices.
The GaN-based semiconductors
are also used in the defense industry due to their high thermal conductivity,
high-temperature tolerance, and power density. Thus, rising expenditure on the
defense sector in developed, as well as developing, countries is anticipated to
boost the market growth in the coming years. Escalating demand for the
Internet-of-Things (IoT) technology is also contributing toward the growth of
the semiconductor devices as it offers several advantages including large electric
filed, high breakdown voltage, and wider bandgap. These devices are also used
in the healthcare industry in scanning equipment such as miniaturized x-ray
machines MRI, and sonogram. This would further augment the market expansion in
the years to come.
Access
Research Report of Gallium Nitride Semiconductor Devices Market@: www.grandviewresearch.com/industry-analysis/gan-gallium-nitride-semiconductor-devices-market
Industry experts believe that
GaN can serve as an alternative to silicon due its high efficiency and low
power consumption competences. Therefore, it is considered as the most suitable
material for manufacturing power electronic devices. In addition, GaN-based
transistors offer benefits such as higher breakdown voltage with a wide ban,
large electric field, and a high thermal conduction. These transistors are more
efficient as compared to the silicon devices as they can be functional at high
switch frequency and high-power density. The global gallium nitride (GaN)
semiconductor devices market is segmented on the basis of product, wafer size,
application, and region.
Based on product, the market
is categorized into GaN radio frequency devices, power semiconductors, and
opto-semiconductors. The GaN radio frequency devices sector is likely to grow
at the maximum CAGR 20.4% from 2018 to 2025. On the basis of wafer size, the
market is categorized into 2 inch, 4 inch, 6 inch, and 8 inch. The 6 inch wafer
segment is expected to grow at the highest CAGR of 21.8 % from 2018 to
2025. On the basis of application, the market can be fragmented into
automotive, consumer electronics, defense and aerospace, healthcare,
information and communication technology, industrial and power, and others. The
defense and aerospace sector is anticipated to register the maximum CAGR of
20.9 % during the forecast years.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. North America dominated the market in the pasta and valued
at USD 322.5 million. Major expenses in the defense and aerospace industry for
research and development is considered as the key driving factor for the region’s
growth. The U.S. federal government is encouraging the implementation of
energy-efficient devices, which is expected to create positive outlook for the
market. For instance, government in the U.S. granted important contract to
Raytheon Integrated Defense Systems to improve manufacturing of GaN
semiconductor devices.
Asia Pacific is likely to
witness the fastest growth in the coming years owing to high technological
advancements resulting in a rise in the demand for high-performance RF
components. The region is also expected to provide high growth opportunities
for power electronics and optoelectronics devices. Some of the prominent
companies operating in the gallium nitride (GaN) semiconductor devices market
include Efficient Power Conversion Corporation, Inc.; GaN Systems, Inc.;
Toshiba Corporation; and Fujitsu Ltd. These companies have undertaken strategic
alliances and mergers and acquisitions as part of their market strategies and
to develop advanced, more efficient GaN semiconductor devices.
For instance, Energous
Corporation recently introduced a high-power, Near Field WattUp charging
solution that features GaN-based 5-10W RF receiver IC and Power Amplifier (PA).
It is designed for a variety of electronic devices including tablets,
smartphones, smart speakers, drones, game controllers, and several others. The
new product can charge devices with up to 10 watts of energy.
Access
Press Release of Gallium Nitride Semiconductor Devices Market@: www.grandviewresearch.com/press-release/global-gan-gallium-nitride-semiconductor-devices-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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