Gallium Nitride Semiconductor Devices Market is anticipated to register a CAGR of 24.4% over 2022-2030

According to the research report published by Credible Markets, Gallium Nitride Semiconductor Devices Market is currently valued at USD 1.88 Billion and is anticipated to grow at a CAGR of 24.4% over the forecast duration of 2022-2030.

Gallium Nitride Semiconductor Devices Market Overview
Gallium Nitride is basically a binary III/V direct bandgap semiconductor which is well-suited for high-power transistors that are capable of operating at high temperatures. Gallium Nitride is used not only in semiconductor power devices but also in RF components, lasers, and photonics. In the future, GaN can be seen in sensor technology too.
GaN is the perfect replacement material for silicon in medium-voltage power applications as it offers advanced features in terms of power efficiency at high voltages, high reliability, power factor correction, and power amplification, while surpassing pure silicon significantly. GaN semiconductor devices have majorly found application in high-power computing or computer hardware modules and also in electronic systems, electromechanical computing systems, and wireless charging.

Key Market Trends- Growth Determinants and Challenges
The Gallium Nitride Semiconductor Devices Market is being fuelled by factors such as, the growing number of electric vehicles worldwide because GaN has enabled automakers to reduce vehicle charging time, improved the cost efficiency, increased the power density, and also enhanced the driving range. Also, GaN semiconductor devices have received funding from venture capital companies that has helped them in enhancing their offerings and market position and also in the overall industry progression.
Additionally, the demand for GaN in 5G multi-chip modules is also growing for the energy-efficient mobile networks. Various semiconductor companies have made effort to integrate GaN in 5G multi-chip modules. This has positively swayed the market dynamics.

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The growing shipment of robots worldwide, as GaN is used to servo drives for motion controls and robotics, is anticipated to drive the market growth. The increase in need for automation in the manufacturing process and advancements in technology are the driving factor that can drive the sales of robots over the forecast period.
On the flip side, higher efficacy of silicon carbide (SiC) for high voltage semiconductor applications has negatively impacted the market as it offers better power efficiency and advanced power handling capacity for several power functions.

Segmental Analysis of Gallium Nitride Semiconductor Devices Market
On the basis of Device Type
• Opto- semiconductors
• Power semiconductors
• RF Semiconductors
The Power semiconductors segment of GaN Semiconductor devices market is expected to witness the highest CAGR growth during the forecast period because of various factors.

On the basis of End-Use
• Consumer and Enterprise
• Renewables
• Automotive
• Telecommunications
• Healthcare
The Renewables segmented is expected to witness a higher CAGR growth during the forecast years, in the end-use segment. The rapid growth is because of the use of GaN transistors in designing energy storage systems that have bi-directional power flow architectures.

On the basis of Wafer Size
• 2 inches
• 4 inches
• 6 inches and more
The 6-inch segment is expected to expand at the highest CAGR over the forecast period. The benefits, such as, uniform voltage supply and precise current control are the driving factors for this segment.

On the basis of Application
• Lightning and Laser
• Supplies and invertors
• Transistors
• Power IC
The power IC segment is expected to witness a steady growth over the forecast period in the application segment. This is because of the increasing use of GaN based power ICs that offers features, such as, efficient navigation, collision avoidance, and real time air traffic control.

Asia Pacific is anticipated to emerge as the fastest-growing market
North America, Europe, Asia Pacific, Middle east and Africa are the major regions constituting the geographical landscape of the worldwide GaN Market. Among this, the Asia Pacific region is expected to emerge as the fastest-growing regional market over the forecast period. This growth is because of the rapid technological advancements that are leading to the increased demand for efficient and high-performance RF components.

Competitive Landscape
The prominent players influencing the competitive hierarchy of the market sphere are Cree, Inc., Efficient Power Conversion Corporation, Fujitsu Ltd., GaN Systems, Infineon Technologies AG, Nexgen Power Systems, NXP Semiconductors, Texas Instruments Incorporated, Toshiba Corporation.

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Major Developments
• In March 2019, Cree, Inc. had completed the acquisition of Advanced Technology Materials Corp. which is a manufacturer of GaN semiconductor devices. The company has extended its geographical presence in China.
• In December 2019, FUJITSU Limited had developed a new design for the production of a diamond film on the surface of GaN HEMTs. This technology has helped in the decrease of the heat production by 40% during the operation of the equipment and it was majorly used in weather radars and communication components.

Major Questions answered in this report
• What is the growth rate of the Gallium Nitride Semiconductor Devices Market?
• What are the primary growth determinants of the GaN Semiconductor Devices Market?
• Which are the major regions constituting the geographical landscape of the GaN Semiconductor Devices Market?
• Which are the prominent companies operating in the GaN Semiconductor Devices Market?

Key takeaways from the Report
• GaN Semiconductor Devices Market is projected to register at a CAGR of 24.4% over 2022-2030.
• Growing number of electric vehicles worldwide and growing shipment of robots worldwide are aiding market progression.
• The power IC segment is expected to witness a steady growth over the forecast period in the application segment.
• Asia Pacific is expected to emerge as the fastest- growing region in the market.

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This release was published on openPR.