According to a new market report published by Transparency Market Research , “GaN Semiconductor Devices Market (By Product – power semiconductors, GaN RF devices and opto-semiconductors, By Wafer Size – 2 inch, 4 inch, 6 inch and 8 inch, By Application – Information and communication technology, automotive, consumer electronics, defense and aerospace and others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024” was valued at USD 870.9 million in 2015 and is estimated to grow at a CAGR of 17.0% and reach USD 3438.4 million by 2024.
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Due to low power consumption, high temperature resistivity, high breakdown voltage, high electron mobility and better thermal stability among others, GaN semiconductor devices are widely considered to be a green technology acknowledged by different industrial sectors. These devices are heavily used in light emitting diodes (LEDs), radio frequency (RF) amplifiers and power electronics due to various unique properties. With rapid development in technology, GaN is expected to inflate in various other commercial application areas. Developments in increase in wafer diameters are expected to improve the efficiency and reduce the cost of overall GaN devices, eventually improving the performance of these devices and making this technology more acceptable compared to other semiconducting materials. As most application areas and markets are beginning to explore the usage of GaN, recent discoveries suggest that GaN can be safely used in biomedical implants. Hence, the medical industry is anticipated to be one of the major application areas for GaN semiconductor devices. Moreover, the market for GaN semiconductor devices is expected to increase further during the forecast period, primarily due to growing demand from sectors like automotive, aerospace, defense, information and communication technology and military among others. GaN semiconductor devices are widely used in radio frequency amplifiers, high voltage applications and LEDs among others, primarily due to their abilities to operate at high frequency, power density, and temperature with improved efficiency and linearity. Such innovations have greatly increased the demand for GaN devices in various application areas. In order to meet the rising demand for GaN semiconductor devices, big players of the GaN industry have been utilizing economies of scale. Moreover, invertors for home appliances, power converter circuits, heavy electrical systems and hybrid vehicles are the other high power applications areas where GaN power semiconductors are used.
By products, the GaN semiconductor devices market has been divided into three categories; power semiconductors, GaN radio frequency devices and opto semiconductors. The power semiconductor segment has been further segmented into three types; schottky diode, High Electron Mobility Transistors (HEMTs) and Integrated Circuits. The opto semiconductors segment accounted for a share of more than 60% of the overall market and was the largest segment.
By wafer size, the GaN semiconductor devices market has been bifurcated into four types; 2 inch, 4 inch, 6 inch and 8 inch. The 8 inch segment is expected to witness the fastest growth during the forecast period.
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The global GaN semiconductor devices market on the basis of application has been segmented into four types; information and communication technology, consumer electronics, defense and aerospace and others. The defense and aerospace segment held the largest share and accounted for more than 40% of the overall market. GaN based transistors are majorly used in various applications in the defense industry such as radar communication improvised explosive device (IED) jammers, and electronic warfare. Increasing investment in research and development for the defense industry is also resulting in the growth of GaN semiconductor devices in this sector. Constant need of enhanced performance is the primary driver for growth of this segment.
Some of the major players in the market are Mersen S.A., Avogy, Inc., Fujitsu Limited, GaN Systems Inc., Cree Inc., NXP Semiconductors N.V., Renesas Electronics Corporation, Toshiba Corporation, Everlight Electronics Co. and Efficient Power Conversion Corporation
This report offers a comprehensive analysis of the global GaN semiconductor devices market along with the market values, in terms of revenue (USD million) for the forecast period from 2016-2024. In addition, the global market has been bifurcated on the basis of products, wafer size and application. The cross sectional analysis of GaN semiconductor devices market across four geographical regions has also been covered under the purview of the report.