GaN Semiconductor Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and 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.
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.
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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