Global GaN Semiconductor Devices Market
December 8, 2016 | Transparency Market ResearchEstimated reading time: 2 minutes
The majority of key companies in the global GaN semiconductor devices market as a part of their business strategy are focusing on research and development. Several companies aim to strengthen their sales channel by entering into partnerships with global distributors and sales representatives, finds Transparency Market research (TMR) in a new study.
The top four players in the market are Cree Inc., GaN Systems Inc., Efficient Power Conversion Corporation, and NXP Semiconductors N.V. These players accounted for more than 56% of the overall market value in 2015. “Companies such as NXP Semiconductors N.V. focuses on promising segments such as smart mobiles and identification and automotive telematics in order to outpace the market growth,” says TMR’s lead analyst.
GaN Semiconductor Devices Market
The global market for GaN semiconductor devices is expected to rise at an impressive CAGR of 17.0% from 2016 to 2024, reaching a valuation of US$3,438.4 mn by the end of 2024 from US$870.9 mn 2015. By product, opto semiconductors will continue to dominate the market until 2024, representing nearly 62.1% of the overall market revenue. The power semiconductors segment is poised to expand at a CAGR of 18.3% during the forecast period.
Rising Demand for Consumer Electronics to Put Asia Pacific at Forefront
Geographically, North America was the dominant segment in 2015. However, Asia Pacific is estimated to rise to the fore as the leading revenue contributor over the forecast period. The lower production and labor costs in countries such as Japan, China, and India are aiding manufacturers to set up their production facilities. Moreover, the increasing penetration of consumer electronics and the growing popularity of cloud computing are providing a fillip to the APAC region.
Upward Penetration in End-use Industries to Propel GaN Semiconductor Devices Market
Due to their high electron mobility, high thermal conductivity, high breakdown voltages, and saturation velocity, GaN semiconductor devices are being increasingly acknowledged by different industrial sectors. Therefore, the increasing applications of GaN-based devices are fuelling the global market. Moreover, the increasing demand for devices enabling improved responsiveness and enhanced battlefield performance from the defense sector is augmenting the market. In addition, there is an exponentially increasing demand for GaN devices in aerospace, automotive, consumer electronics, and ICT. Furthermore, the improving economic conditions in emerging nations and technological advancements are working in favor of the growth of the global GaN semiconductor devices market.
High Production Cost of Gallium Nitride to Hamper Growth Prospects
The high production cost of pure Gallium nitride is a primary challenge in the commercialization of GaN-based devices. The different costs involved in the production of these devices includes cost of development and fabrication of substrates, support electronics, packaging, and development. “The high production cost of GaN is prompting semiconductor manufacturers to stick to silicon carbide, which has been a prominent semiconductor material for high voltage power electronics for more than a decade. However, the advent of electric vehicles (EV) and hybrid electric vehicles (EV) is likely to provide a significant push to the global GaN semiconductor devices market in the near future.
Suggested Items
AIM Solder Signs Shinil Fl Ltd. as New Distributor for Korea
05/08/2024 | AIM SolderAIM Solder, a leading global manufacturer of solder assembly materials for the electronics industry, is pleased to announce a new distribution partnership with Shinil Fl Ltd., a prominent supplier of technological solutions in the SMT and semiconductor sectors.
KYZEN’s Adam Klett to Keynote at SMTA Electronics in Harsh Environments Conference
05/07/2024 | KYZEN'KYZEN, the global leader in innovative environmentally friendly cleaning chemistries, announced today that KYZEN’s Director of Science, Adam Klett, PhD will present as a keynote speaker at the SMTA Electronics in Harsh Environments Conference. The event is scheduled to take place May 14-16, 2024 at the Technical University of Denmark in Copenhagen, Denmark.
Altus Equips SSTL with Advanced Cleaning Technology for Electronics
05/07/2024 | Altus GroupAltus Group, a leading supplier of capital equipment for the electronics manufacturing industry, has announced the successful installation of an advanced PCBA cleaning system at Surrey Satellite Technology Limited (SSTL).
GPV's Handover of Refurbished Factory Building
05/07/2024 | GPVOn 6 May 2024, Bjorn Fiskers, MD at GPV Electronics TH in Thailand and his team were handed the keys to our refurbished factory building, adding another 7,000 sqm to our current 15,000 sqm electronics factory. Our electronics factory in Thailand will comprise of a total of 22,000 sqm.
New Yorker, Major League Electronics Sign New Franchised Distribution Agreement
05/06/2024 | New Yorker Electronics Co.New Yorker Electronics, global distributor of electronic components, recently announced a new franchised distribution agreement with Major League Electronics, renowned manufacturer of interconnect products.