GaN Semiconductor Devices Market Size, Application, Region and Growth Forecast 2019-2029
GaN Semiconductor Devices Market: Overview
Silicon carbide (SiC) and gallium nitride (GaN) are wide bandgap power semiconductor devices that are gathering groundswell of attention among power electronics systems manufacturers. Power semiconductor devices are used in a wide spectrum of consumer electronics, high technology areas in defense sector, and telecommunication industry. They are supplanting silicon semiconductors in RF, analog applications, and power conversion, underpinning the rapid evolution of the GaN semiconductor devices market.
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GaN Semiconductor Devices Market: Key Trends
Salient features attributing the preference of power semiconductor devices in the electronics and telecommunication industry are high efficiency, high power density, low cost of production, lower on-resistance, and less capacitance. Two major product categories in the GaN semiconductor devices market are opto-semiconductors and power semiconductors. The proliferation of IoT-powered products has spurred the production of GaN semiconductor devices.
The rising use of power electronics is a key trend boosting the demand for gallium nitride-based transistors, thereby spurring the opportunity in the GaN semiconductor devices market. Rise in popularity of these semiconductor devices in enabling GaN FETs for high-end applications in power electronics systems is boosting the market.
GaN Semiconductor Devices Market: Competitive Assessment
Over the past few years, new and incumbent players have been searching for new applications areas. This has paved way to new, exciting vistas for electronics manufacturers in the GaN semiconductor devices market. A case in point is the preference of gallium nitride components in robotics that are used in healthcare applications. The growing adoption of GaN semiconductor devices in sonograms, miniaturized x-ray machines, and magnetic resonance imaging (MRI) is opening new avenues for players seeking new application areas.
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Growing prospective demand for GaN radio frequency devices in the defense technologies have unlocked new revenue prospect for players in the market. Further, the popularity of high-frequency GaN devices in electric vehicles (EVs) has considerably expanded the room for incredibly vast opportunity for stakeholders. Extensive research has been conducted in improving the power electronics systems that will be used in EVs. A large part of such efforts are fueled by the increasing focus of making equipping EVs with efficient power density power converters. The rapid pace of commercialization of EVs will pool in significant investments by EV manufacturers, expanding the revenue potential in the GaN semiconductor devices market.
Some of the players aspiring for making a stronghold in the GaN semiconductor devices market are Fujitsu Ltd., Toshiba Corporation, and Qorvo, Inc.
GaN Semiconductor Devices Market: Regional Assessment
The rise in revenue growth in the GaN semiconductor devices market has been witnessed in Europe, North America, and Asia Pacific. Other key regional markets are the Middle East and Latin America. North America has seen revenue streams rise at rapid pace over the past few years. The region has seen rapid strides in ICT. Countries such as the U.S. have endowed generous opportunities to vendors and manufacturers of GaN semiconductor devices on the back of the rising demand for reliable power devices in the defense sector.
Numerous economies in Asia Pacific are emerging as a hotbed of opportunities to players in the GaN semiconductor devices market. The growth prospects of the regional market can be attributed to the colossal production of consumer electronics. Rise in incorporation of advanced power semiconductors in electronics has also boosted the growth. Bulging demand in the region is also because of the demand for high-end communication devices in China, North America, and India.
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