San Francisco, 6 September 2018; 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.
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Research Report on Gallium Nitride (GaN) 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.
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.
View press release of this
research report by Grand View Research:
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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