GaN Semiconductor Devices Market Share Estimated to Garner USD 29.6 Billion by 2030 with a CAGR of 5.8% - Report by Market Research Future (MRFR)
Rising Demand from Automotive and Aerospace Sectors Drives GaN Semiconductor Devices Market
New York, US, May 30, 2022 (GLOBE NEWSWIRE) -- *GaN Semiconductor Devices Market Overview:*
According to a comprehensive research report by Market Research Future (MRFR), “GaN Semiconductor Devices Market Research Report: by Type, by Wafer Size, by Device and by End User - Forecast till 2030” is estimated to grow at 5.8% CAGR to reach USD 29.6 billion by 2030.
*GaN Semiconductor Devices Market **Report Scope:*
The global GaN semiconductor devices market is expected to witness rapid revenue growth. Surging demand for GaN semiconductor devices in military and space applications is a key driving force supporting the market growth. With their considerable stability in the radiation environment, GaN devices demonstrate many benefits in space & military applications that offer favorable characteristics to terahertz (THz) devices.
*Report Attribute* *Details* Market Size USD 29.6 billion CAGR 5.8% Base Year 2020 Forecast Period 2021-2030 Historical Data 2019 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered Type, by Wafer Size, by Device and by End User Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW) Key Vendors RF Micro Devices Incorporated (U.S.), Fujitsu Ltd.(Japan), Toshiba Corp. (Japan), Texas Instruments Inc. (U.S.), Cree Incorporated (U.S.), Aixtron SE (Germany), Mitsubishi Chemical Corporation (Japan), Koninklijke Philips N.V. (Netherlands), GaN Systems Inc. (Canada), and Epigan NV (Belgium) Key Market Opportunities mproving standards of the latest and advanced GaN technology. Key Market Drivers Rising demand for wireless communications and high bandwidth speeds.
The increased integration in LEDs, private home battery chargers, and other modern active devices.
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Besides, greater stability in radiation surroundings possessed by GaN semiconductors fosters its use in the automotive and aerospace sectors to drive the growth of the market. Also, rising usages of gallium nitride semiconductor devices in different industrial sectors such as telecommunications, consumer electronics, and medical industries escalate the GaN semiconductor devices market growth.
Additionally, the spurting growth in automotive, aerospace, ICT, telecommunication, healthcare, and consumer electronics industries substantiates market growth. Conversely, the high manufacturing costs of these devices are the major factors expected to obstruct market growth. Nevertheless, technological advances expected sooner would support the market growth throughout the assessment period.
*GaN Semiconductor Devices Market Segments *
The GaN semiconductor devices market report is segmented into types, wafer size, end-user, and regions. The type segment comprises Opto-semiconductor, power semiconductor, RF semiconductor, and others. The wafer size segment comprises 2 inches, 4 inches, 6 inches, and above. The end-user segment comprises automotive, aerospace & defense, consumer electronics, telecommunication, medical, and others. The region segment is sub-segmented into Asia Pacific, Europe, North America, and rest-of-the-world.
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*GaN Semiconductor Devices Market Competitive Landscape *
Highly competitive, the GaN semiconductor devices market appears fragmented, with several well-established players forming a competitive landscape. Industry players adopt strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product/ technology launch to gain a competitive share. Significant investments are transpired in the R&D to upgrade technology and product developments & applications across the industries.
*Dominant Key Players on Automotive Seat Market Covered are:*
· RF Micro Devices Incorporated (U.S.)
· Fujitsu Ltd.(Japan)
· Toshiba Corp. (Japan)
· Texas Instruments Inc. (U.S.)
· Cree Incorporated (U.S.)
· Aixtron SE (Germany)
· Mitsubishi Chemical Corporation (Japan)
· Koninklijke Philips N.V. (Netherlands)
· GaN Systems Inc. (Canada)
· Epigan NV (Belgium)
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*Recent Developments:*
For instance, on April 28, 2022, ROHM Co Ltd. (Japan), a leading power semiconductor maker, announced a strategic partnership with Delta Electronics Inc. (the US), a leading power supply maker, to develop and mass-produce gallium nitride (GaN) power devices. In March, ROHM established a mass-production system for 150V GaN high-electron-mobility transistors (HEMTs) featuring a breakthrough 8V gate that withstands voltage.
This partnership would make it possible to develop 600V breakdown voltage GaN power devices optimized for a wide range of power supply systems by combining ROHM’s market-proven power development and manufacturing expertise with Delta’s power supply device development technology.
This will allow ROHM to expand its new EcoGaN device range for power circuits in IoT communications and industrial equipment in base stations and data centers. It will also help further improve device performance, maximizing the low-ON-resistance and high-speed-switching characteristics of GaN to achieve lower application power consumption, smaller peripheral components, and simpler designs that require fewer parts.
In another instance, on July 21, 2020,* *Cambridge GaN Devices Ltd. (CGD – the UK), a leading GaN power transistor maker, announced that it would lead a €10.3MN (USD 1, 21, 52,764) European project GaNext to develop fast-switching intelligent GaN power modules. All GaN power transistors produced commercially so far are HEMT (high electron mobility transistors).
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*GaN Semiconductor Devices Market Geographical Analysis *
North America leads the global GaN semiconductor devices market. The largest market growth attributes to the rising demand for semiconductor devices in offshore oil & gas exploration, emergency medical service providers, and the military. Besides, the presence of many notable players and well-developed aerospace sectors in the region drives the regional GaN semiconductor devices market growth.
Moreover, the growing consumer electronics market fosters the growth of the GaN semiconductor devices industry in the region. The US accounts for the leading share in the regional market due to the rapid aerospace sector development. The North American GaN semiconductor devices market is estimated to retain its dominance over the global market throughout the review market.
Europe stands second in the GaN semiconductor devices market. The market is driven by the burgeoning end-user industries such as the automobile and consumer electronics industries. Moreover, the rising adoption of gallium nitride semiconductor devices in well-developed sectors such as defense & aerospace, information & communication technology, and healthcare* *contribute to the regional market growth.
Simultaneously, the fast-paced and high-quality lifestyle and the increasing demand for consumer goods such as television, computers, laptops, and gaming devices, foster the market growth in the region. The European Space Agency (ESA) acknowledges GaN as a key enabling technology, substantiating the adoption of these devices. The European GaN semiconductor devices market is projected to create a substantial revenue pocket.
The GaN semiconductor devices market in the Asia Pacific region is emerging as the most promising space. Factors such as the emergence of many novel innovations such as GREAT2 (GaN reliability enhancement and technology transfer) and the rapidly growing well-established automotive and aerospace sectors provide impetus to the regional market growth. The region is witnessing constant economic growth, especially in India and China, which positively impacts the regional market growth.
Among other APAC countries, India is increasingly becoming a hub for technology, automotive, and aerospace developments, with a steady flow from foreign investors. Owing to the raw material advantages and the availability of cost-competitive labor forces substantiates the GaN semiconductor devices industry in the region. The APAC GaN semiconductor devices market is expected to grow at an impressive CAGR during the assessment period.
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