ID: MRFR/CnM/4156-HCR | 140 Pages | Published By Chitranshi Jaiswal on April 2023
The market is projected to grow from USD 21.20 billion in 2020 to USD 28.42 billion in 2030 at a CAGR of 4.30% in the 2021-2030 period.
$28.42 Billion
4.30%
North America
2021-2030
Global Gallium Nitride Market Share, by End-Use Industry (%)
The gallium nitride market is segmented into five key regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
North America is leading the global GaN market followed by Europe and rest of the world. Countries like the U.S. and Canada contribute majorly to the market growth owing to the fast-paced and sophisticated lifestyle. The increasing demand for LEDs in consumer goods such as television, computers, laptops, and gaming devices has propelled the market growth to some extent.
Europe is also expected to witness the strong market growth of GaN devices in the forecast period. GaN is identified as ‘key enabling technology’ by the European Space Agency (ESA) for space and founded GREAT2 (GaN reliability enhancement and technology transfer) for technological innovations.
Asia Pacific is expected to emerge as the fastest growing market for gallium nitride due to the growing demand for efficient, high performance, cheap RF electronics, and availability of raw material suppliers. Countries such as China, India, and Japan have high sales and revenue, which, in turn, increase the market growth. South Korea, Taiwan, and Australia also consume a significant amount of GaN owing to the growing end-user industries in this region.
The global gallium nitride market is segmented on the basis of type, end-use industry, and region.
Based on the type, the market is further segmented into p-type and n-type.
The end use industry is segregated into automotive, consumer electronics, defense and aerospace, healthcare, information and communication technology, and others.
Geographically, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Some of the prominent players in the global GaN market are Cree Inc. (the U.S), GaN systems (Canada), FUJITSU (Japan), Efficient Power Conversion Corporation (the U.S), IQE plc (U.K), Koninklijke Philips N.V. (the Netherlands), Infineon Technologies Ag (Germany), Mitsubishi Chemical Corporation (Japan), ON Semiconductor (the U.S), Taiwan Semiconductor Manufacturing Company (Taiwan), Panasonic Corporation (Japan), Texas Instruments Incorporated (the U.S), TOSHIBA CORPORATION (Japan), VisIC (Israel), and Nippon Telegraph and Telephone Corporation (Japan).Recent Development
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | 2030 : USD 28.42 Billion |
CAGR | 2020–2030: 4.30% CAGR |
Base Year | 2021 |
Forecast Period | 2020 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, End-Use Industry and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Cree Inc. (the U.S), GaN systems (Canada), FUJITSU (Japan), Efficient Power Conversion Corporation (the U.S), IQE plc (U.K), Koninklijke Philips N.V. (the Netherlands), Infineon Technologies Ag (Germany), Mitsubishi Chemical Corporation (Japan), ON Semiconductor (the U.S), Taiwan Semiconductor Manufacturing Company (Taiwan), Panasonic Corporation (Japan), Texas Instruments Incorporated (the U.S), TOSHIBA CORPORATION (Japan), VisIC (Israel), and Nippon Telegraph and Telephone Corporation (Japan). |
Key Market Opportunities | Silicon devices which have larger chips, the smaller sizes of GaN devices favors the market growth. |
Key Market Drivers | Technological advancements and increase in the bandwidth requirement by electronic device users are anticipated to drive the market |
It has a wide band gap, which is highly recommended for optoelectronic, high frequency, and high-speed devices. It is used for power amplifiers manufacturing in microwave frequencies due to its capacity to operate at a high temperature and voltage
Some of the prominent players in the global GaN market are Cree Inc. (the U.S), GaN systems (Canada), FUJITSU (Japan), Efficient Power Conversion Corporation (the U.S), IQE plc (U.K), Koninklijke Philips N.V. (the Netherlands), Infineon Technologies Ag (Germany), Mitsubishi Chemical Corporation (Japan), ON Semiconductor (the U.S), Taiwan Semiconductor Manufacturing Company (Taiwan), Panasonic Corporation (Japan), Texas Instruments Incorporated (the U.S), TOSHIBA CORPORATION (Japan), VisIC (Israel), and Nippon Telegraph and Telephone Corporation (Japan).
Low cost of production, increases the demand for GaN devices in the market, silicon devices which have larger chips, the smaller sizes of GaN devices favors the market growth.
The global gallium nitride market is segmented on the basis of type, end-use industry, and region.
North America is leading the global GaN market followed by Europe and rest of the world.