Report Ocean has recently published a new research study on the global gallium nitride semiconductor devices market. According to the study, the market is expected to exhibit strong growth potential over the period from 2020 to 2027. The report is titled “Global Gallium Nitride Semiconductor Devices Market Size study, by Product (GaN Radio Frequency Devices, Opto-semiconductors, Power semiconductors), by Wafer Size (2-inch, 4-inch, 6-inch, 8 inch), by Application (Automotive, Consumer Electronics, Defense & Aerospace, Healthcare, Industrial & Power, Others) and Regional Forecasts 2020-2027” and it has been prepared by carrying out an in-depth assessment of this market based on its past and current performance and future prospects.
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The worldwide gallium nitride semiconductor devices market stood at approximately US$975 mn in 2019. The market is anticipated to propel at a CAGR of more than 4.5% over the forecast period of 2020-2027. However, the high material and production cost and easy availability of alternatives may inhibit the market in the near future.
The suitability of GaN-based semiconductors for the usage in a variety of switching devices has fueled their popularity, increasing their demand, which is supporting this market. Apart from this, a rise in the uptake of GaN in electric vehicles and hybrid vehicles and the increasing application of these semiconductors in consumer electronic products are likely to propel the growth of the worldwide market for gallium nitride semiconductor devices over the period of the forecast, states the research report.
The research report also presents a regional assessment of the global gallium nitride semiconductor devices market. As per the study, the market is distributed among Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America has established its leadership over the global market. The rising investment in the aerospace and the defense sectors, together with the presence of a large pool of market vendors, the North America market for gallium nitride semiconductor devices will continue to report a high rise in the near future. Another regional market that is expected to report significant growth in the years to come is Asia Pacific. Factors, such as the increasing number of smart grid projects and the rising industrialization in emerging Asian countries, are projected to aid this regional market.
Impact of Covid 19 on Global Gallium Nitride Semiconductor Devices Market
The impact of Covid 19 on the global gallium nitride semiconductor devices market is predominantly negative. Currently, the focus has been shifted to the healthcare industry, and particularly, Covid 19 treatment. With reduced investments and lesser product launches, this market has been disturbed a bit over these few months. However, as the markets are opening up, it is likely to return to its normal pace soon.
Key Findings:
- North America has established its leadership over the global market.
- Asia Pacific will also report high growth, thanks to the increasing number of smart grid projects and the rising industrialization in emerging Asian countries.
The global gallium nitride semiconductor devices market is classified into:
By Product
- GaN Radio Frequency Devices
- Opto-semiconductors
- Power semiconductors
By Wafer Size
- 2 inch
- 4 inch
- 6 inch
- 8 inch
By Application
- Automotive
- Consumer Electronics
- Defense & Aerospace
- Healthcare
- Industrial & Power
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- NexGen Power Systems Inc.
- Cree, Inc.
- Efficient Power Conversion Corporation Inc.
- GaN Systems, Inc.
- Toshiba Corp.
- Fujitsu Ltd.
- NXP Semiconductor N.V.
- Texas Instruments Inc.
- Infineon Technologies AG
- Qorvo Inc.
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