The GaN semiconductor devices market is estimated to grow at 8% CAGR over the projected (2018-2023), to reach USD 25 billion by 2023 according to Market Research Future (MRFR) in its latest projection.
The global GaN semiconductor devices market is likely to attract massive demand owing to its usage in a different range of semiconductor devices. It is projected to substitute silicon due to low power consumption and increase energy efficiency. The massive technological advances and increased demand for different types of wireless communication are most probably to compel the requirement for energy-efficient systems. According to the rollout of latest communication technologies and concentration of makers in improving standards of the latest and advanced GaN technology can administer new opportunities to the market.
COVID 19 Impacts and effects
The COVID-19 pandemic has resentfully affected the growth of the GaN manufacturers owing to shutdown of production of bigger manufacturing units. In addition, due to the pandemic, the demand for electronics and automotive sectors temporarily decreased as it restricts the spread of the disease and has dabbled the market's future prospects. The various trade tensions and relationships between countries are estimated to affect the market.
The decrease in the need for power semiconductors and power ICs in the year 2020 is projected to recur by 2021, owing to many innovative policies that aim to promote the production of different types of hybrid and electric vehicles. The different opening of global economies in various countries is estimated to make a positive impact on the global GaN device manufacturers as the demand for the power semiconductors in the year 2021 can increase the earnings of the market stakeholders. The primary development of readjustment scenarios by companies to combat unforeseen events. Also, the market for Wireless and home office applications are projected to recover in 2021
Global GaN Semiconductor Device Market, 2017-2023 (USD Billion)
Global GaN Semiconductor Devices Market is slowly improving because of the market growth of GaN material for energy and power applications. This is due to the increased integration in LEDs, private home battery chargers, and other modern active devices. The demand for wireless communications and high bandwidth speeds is rising. Many telecommunication companies are rolling out 5G to support and backup the industry. GaN semiconductors are good for switching devices. MACOM and Qorvo are working on the development of GaN-on-Si semiconductors for meeting the demand for different types of energy-efficient devices.
According to the GaN device manufacturers, during the forecasted period, they will have the maximum share. The application helps the management and the decision-makers to ensure that they are working towards the right innovation techniques with the right resources and strategies throughout the product life cycle. It also assists in reforming the resources by optimum planning and facilitating resources and financial hurdles.
The North American region is desired to have the largest market share in 2016, while APAC is the next in line in terms of CAGR. There are plenty of factors such as improved and developed IT infrastructure, growing internet penetration, and rising number of connected modern devices that support the growth of this industry.
The various Silicon carbide (SiC) devices are a suitable replacement to RF GaN devices due to the higher demand for long battery life and demand for advanced technologies to manage the latest high frequencies and voltages. The upcoming demand for various wideband technologies in latest smartphones such as detection of precision locating, different tracking, and modern sensor data collection that project and drive its demand and shut the development of various prospects of the latest RF GaN industry.
The GaN Semiconductor Devices Market Research shows that the vendors are creating a major financial investment to develop the product and innovation according to the latest technologies. The major GaN Semiconductor Devices Market Research are and concentrate on building different out-of-the-box processes and applications that can instantly deploy promptly leveraging an integrated product development platform. It requires a robust ecosystem of technology that can support a wide variety of applications.
There is a serious need for upgrades in the Gallium Nitride Semiconductor Device Market. Continuous innovation is required. The industry needs to develop more innovative equipment to fight the competition. The global GaN semiconductor devices market is projected to have a growth rate of 21.6 % CAGR over the forecast period 2017-2023. The popularity of this technology is estimated to boost up all across the globe.
There has been a growing demand for Gallium Nitride (GaN) Semiconductor Devices Market everywhere, including the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, etc. The whole of Japan, the U.S., Canada, and Mexico seem to have the biggest markets. Europe and Asia-Pacific countries are also coming forward. The modern innovation methods are accelerating the growth of the GaN semiconductor devices market.
By Sales Channel
The Global GaN Semiconductor Devices Market is projected to increase with an astonishing Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period. There is a continually increasing need for integrated GaN, proper management of supply chain, and quick adoption of the Internet of Things (IoT) is helping the GaN semiconductor devices market to grow.
The market for gallium nitride (GaN) semiconductor devices is divided into wafer size, different types, modern devices, and high end-user.
On the basis of various types, gallium nitride semiconductor devices are again divided into different power semiconductors, various Opto semiconductors, and several RF semiconductors.
The different Governmental agencies, partners and industrial bodies, Investors, and Trade experts are the major stakeholders who are related to this industry. The concept is gaining momentum. It is becoming an important part of product development. This is the factor for its increasing popularity.
According to worldwide distribution, the GaN semiconductor devices market is segregated into four different categories on the basis of revenue share, namely North America, Asia Pacific, Europe, and The Rest of the World.
North America is leading. The U.S. owns the biggest portion of revenue in the region because of its advanced and modern technological infrastructure, and the existence of many large numbers of manufacturers are projected to grow the market over the forecast period. The Asia Pacific region is showing a substantial growth in the market after the North American region. China, Taiwan, Japan, and the Republic of Korea are other prominent countries in the market as they have government agencies that constantly promote these markets.
The major competitors in GaN semiconductor devices market are:
According to the process of determining and verifying the growth of the market size for several segments and sub-segments are divided into different categories.
The GaN semiconductor devices market is focused on team collaboration and customer-relationship management. These are major future trends in the market. GaN is essential for rapid product development and relaxes the coordination between partners and manufacturers across several geographical locations. SMEs are an important part of the economy; there is a continuous demand for innovation, which is also driving the market.
|Market Size||USD 25 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, by Wafer Size, by Device and by End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||RF Micro Devices Incorporated (U.S.), Fujitsu Ltd.(Japan), Toshiba Corp. (Japan), Texas Instruments Inc. (U.S.), Cree Incorporated (U.S.), Aixtron SE (Germany), Mitsubishi Chemical Corporation (Japan), Koninklijke Philips N.V. (Netherlands), GaN Systems Inc. (Canada), and Epigan NV (Belgium)|
|Key Market Opportunities||Improving standards of the latest and advanced GaN technology.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global GaN semiconductor devices market valuation is expected to touch USD 25 billion by 2023.
Global GaN semiconductor devices market is expected to expand at 8% CAGR from 2017 to 2023.
Global GaN semiconductor devices market is driven by dielectric strength, switching capacity, and high operating temperature of gallium nitride.
North America can dominate the global market owing to the high use of semiconductor devices
Infineon Technologies, RF Micro Devices Corporation, Gallia Semiconductor, Koninklijke Philips N.V., NXP Semiconductors, Nichia Corporation, Osram Opto-semiconductors, Toshiba, ROHM Company Limited, Aixtron SE, Fujitsu Ltd, Panasonic Semiconductors, Texas Instruments, Qorvo, and Cree Incorporated are key players of the global GaN semiconductor devices market.