Gallium Nitride (GaN) Semiconductor Devices Market is Expected to Foresee Remarkable Growth till 2025 | Hexa Research

Gallium Nitride (GaN) Semiconductor Devices Market is Expected to Foresee Remarkable Growth till 2025 | Hexa Research

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Research Report on Gallium Nitride (GaN) Semiconductor Devices Market Size, Share, Growth Rate, Competitive Market Strategies and Forecasts, 2015 – 2025

29 March 2019, The global Gallium Nitride (GaN) Semiconductor Devices Market size is expected to witness significant growth over the forecast period. Gallium nitride is a robust material that encompasses several chemical properties due to which it is suitable in the manufacturing of various semiconductor devices. The global GaN market has been facing rigid competition from Silicon Carbide (SiC) semiconductor devices sector, over the past few years. However, the popularity of the product is anticipated to grow at a fast pace on account of tremendous rise in its application markets.

Development of new technologies and increasing application scope of the product are the key drivers of this market. GaN-based devices have tremendous applications in hybrid and electric vehicles, while expensive industrial processes are one of the key challenges for this market. Another significant factor driving the GaN semiconductor devices market is the rise in the Radio Frequency (RF) semiconductor devices industry. The RF electronics industry has marginally different needs on characteristics of its components, semiconductor devices, and electronic devices associated with other segments of the global electronics sector.

The global Gallium Nitride semiconductor devices market is interconnected to the communications industry and involves usage of electronic devices to function at a wide range of communication frequencies, from standard frequencies to high ones, depending on the applications. Gallium nitride semiconductor material has great power characteristics, as well as high operating frequency. The product is widely used in the manufacturing of blue light-emitting diodes for Blu-ray disc players and blue laser diodes. The growth of this sector is expected to have a positive impact on the industry over the next seven years.

Among the several product applications, consumer electronics sector accounted for the largest market share over the past few years. This was attributed to wide usage of the product in LED-based display and LED-based lighting. The communication sector was the fastest-growing and second-largest application segment driven by the high product penetration in RF-based applications, including power electronics switching equipment.

Rising product demand from the industrial sector and solar power and wind energy industry is anticipated to fuel the growth of the global Gallium Nitride (GaN) semiconductor devices market over the forecast period. Rising application scope of the product in the aerospace and defense sectors, apart from Electric Vehicles (EVs), is also expected to offer numerous growth opportunities for the market development over the forecast period. These devices are much lighter, smaller, efficient, and tougher than silicon semiconductor devices.

They also work as perfect alternatives for their silicon comparable devices, which have hit the maturity stage. Several additional features offered by GaN-based devices include better stability in some radiation environments and low sensitivity to ionizing radiation. Gallium nitride devices also have a scope in high-end power appliances in the military, defense and aerospace sectors, solar cell arrays, and in satellites, which are expected to fuel Gallium Nitride semiconductor devices market growth over the next few years. The market also has enormous revenue potential in transportation and automotive sector, mainly in the Hybrid Electric Vehicles (HEV) and EV segments of the industry.

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There are a few major companies present in the global market. However, the number is anticipated to grow over the forecast period, with numerous start-ups and semiconductor industry giants entering into the field. Presently, the GaN power semiconductors market accounts for less than 1.0 % of the global power semiconductors market. However, electronics and power semiconductors companies are anticipated to enter this new value chain, thus rapidly increasing its percentage share.

North America, Asia Pacific, Middle East and Africa (MEA), Europe, and Latin America are the major regional markets. The North America, Asia Pacific, and Europe regions account for the maximum market share. Europe and North America are the chief establishment base markets. These regions lead in investments, innovation, company activities, and product developments due to which these markets would register a faster CAGR as compared to Asia Pacific, excluding Japan, over the next few years.

Japan is anticipated to have the significant market share and lead the GaN wafer market over the forecast period. The market in Japan is driven by the upsurge in applications and numerous developments in the semiconductor industry. Japan plays an important role among all geographical regions, regarding distribution, and being headquarters to several key companies in this country. Few of the foremost companies in Japan include ROHM Company Limited, Toyoda Gosei Limited, Renesas Electronics, Toshiba Corporation, and Nichia Corporation.

Some of the key companies in the global gallium nitride semiconductor devices market include Toshiba Corp., NTT Advanced Technology Corporation, International Quantum Epitaxy Plc, Fujitsu Ltd., Mitsubishi Chemical Corporation, Cree Incorporated, EPIGEAN NV, Texas Instruments, RF Micro Devices Incorporated, AZZURRO Semiconductors AG, Koninklijke Philips N.V., and Aixtron SE.

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