Gallium Nitride (GaN) Semiconductor Devices Market Worth More Than $3.4 Billion by 2024: Acumen Research and Consulting

PUNE, India, Dec. 07, 2017 -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Gallium Nitride (GaN) Semiconductor Devices Market (Type: Power Semiconductor, Radio Frequency Devices, Opto Semiconductors; Application: Information and Communication Technology, Consumer Electronics, Defense and Aerospace, Automotive, Others; Wafer Size: 2 Inch, 4 Inch, 6 Inch, 8 Inch) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2015-2024”, estimates that the global GaN semiconductor devices market is projected to witness a significant growth, at a CAGR of around 17% during the period from 2016 to 2024 and reach the market value of more than $3.4 billion in 2024. Advancement in GaN technology and growing application areas of GaN semiconductor devices are expected to growth of GaN market.

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Geographically, North America was the largest market for GaN semiconductor devices closely followed by Europe. The growth in North America is mainly spurred by wider utilization of GaN based transistors in military applications. Also, growing demand of LEDs in consumer electronic products such as televisions, laptops, gaming devices, personal computers, and tablet PCs has further fuelled the growth of this market in North America. The North America market for GaN semiconductor devices was valued at around $266 million in 2015 and is projected to witness a growth of over 18% during the period from 2016 to 2024.

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Asia-Pacific region is expected to witness the fastest growth for GaN semiconductor devices during the period from 2016 to 2024, at a CAGR of over 19% attributed by the presence of large number of raw material suppliers in the region. Japan, China, and Korea are the key demand centers for GaN semiconductor devices in Asia-Pacific region. The lower labor and production cost in this region is another important factors fuelling the growth of this market. Some of the major players in Asia-Pacific include Fujitsu Limited (Japan), Shanghai Microsemi Semiconductor Co. Ltd. (China) and Nichia Corporation (Japan).

The GaN semiconductor devices market is segmented based on type, application, wafer size, and geography. Based on type, the market is categorized into power semiconductor, radio frequency devices, opto semiconductors. The major application areas of GaN semiconductor devices include information and communication technology, consumer electronics, defense, aerospace, automotive, and others. Based on wafer size, the GaN semiconductor market is bifurcated into 2 inch, 4 inch, 6 inch, 8 inch wafer size. The major geographies covered under the report scope include North America, Europe, Asia-Pacific, and Rest of the World (Latin America, Middle East and Africa).

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Among different types of GaN based device types, opto semiconductor accounted for the largest share of around 59% in 2015 and is anticipated to continue dominating the market throughout the analysis period. The electronics industry has witnessed an increased adoption of GaN LEDs for lighting at offices, homes, hospitals, shops and industrial applications. Growing demand for power efficient and compact LEDs is propelling the growth of GaN semiconductors market. Due to their power efficiency and luminosity, coupled with growing environmental concerns towards greenhouse gas emissions and energy consumptions, GaN LEDs pose a serious threat to conventional lights.

Some of the major player profiled in the report includes Transphorm Inc., Avogy, Inc., NXP Semiconductors N.V., Fujitsu Limited, Cree Inc., Renesas Electronics Corporation, GaN Systems Inc., Toshiba Corporation, Nichia Corporation and Efficient Power Conversion Corporation among others.

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