Gallium Nitride Semiconductor Device Market by Device Type, Wafer Size, Application, Vertical And Geography - Global Forecast to 2023
NEW YORK, Nov. 7, 2017 /PRNewswire/ --
"The global gallium nitride semiconductor device market is expected to grow at a CAGR of 4.6% between 2017 and 2023"
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The gallium nitride semiconductor device market is expected to be worth USD 22.47 billion by 2023, growing at a CAGR of 4.6% between 2017 and 2023. The major factors driving the growth of the gallium nitride semiconductor device industry include the vast addressable market for gallium nitride in consumer electronics and automotive, wide bandgap property of gallium nitride material encouraging innovative applications, success of gallium nitride in RF power electronics, and increasing adoption of gallium nitride RF semiconductor device in military, defense and aerospace application. However, the preference of silicon carbide in high-voltage power semiconductor devices is expected to be a potential restraint for the overall gallium nitride semiconductor devices market. This is expected to limit the market growth over the next few years.
"The global gallium nitride semiconductor device market for opto-semiconductor device type held the largest market share in 2016"
The global gallium nitride semiconductor device market for opto-semiconductor device type held the largest market share in 2016. This is attributed its wide application in consumer and enterprise, industrial, and automotive industry. Gallium nitride light-emitting diodes (LEDs) are widely used in laptop and notebook display, mobile display, projectors, televisions and monitor, signs and large displays, etc. The use of gallium nitride-based LEDs for the interior and exterior lightings such as headlights and signal lights, car interior lighting, fog lights, stop lights, and dome lights in the automotive industry has also contributed to the larger market size.
"Power drives market is expected to witness a significant growth between 2017 and 2023"
The market for gallium nitride-based power drives is expected to grow significantly during the forecast period attributed to its superior features such as minimum power loss, high-speed switching miniaturization, and high breakdown voltage as compared with the silicon-based power devices. Also, the large total addressable market such as power distribution systems, industrial systems, heavy electrical systems, turbines, heavy machinery, advanced industrial control systems, and electromechanical computing/computer systems; and is also inclusive of several new power applications (clean-tech) such as high-voltage direct current (HVDC), smart grid power systems, wind turbines, wind power systems, solar power systems, and electric and hybrid electric vehicles are among the prime reasons for its faster growth.
"APAC held the largest market share in 2016 and is expected to exhibit considerable growth during the forecast period"
APAC is expected to hold the largest share of the gallium nitride semiconductor device market during the forecast period. This is attributed to the increasing demand for LEDs in various industries such as consumer and enterprise, industrial, and automotive. Further, EV charging, and electric vehicle production markets, and increasing renewable energy generation are driving the market in APAC.
Break-up of the profiles of primary participants:
• By Company Type: Tier 1 = 57%, Tier 2 = 24%, and Tier 3 = 19%
• By Designation: C-Level Executives = 55% and Manager Level = 45%,
• By Region: North America = 40%, Europe = 15%, APAC = 35%, and Rest of the World = 10%
The report includes the competitive landscape of the market for prominent players including Cree (US), Samsung (South Korea), Infineon (Germany), Qorvo (US), MACOM (US), Microsemi Corporation (US), Analog Devices (US), Mitsubishi Electric (Japan), Efficient Power Conversion (US), GaN Systems (Canada), Exagan (France) , VisIC Technologies (Israel), Integra Technologies (US), Transphorm (US), Navitas Semiconductor (US), Nichia (Japan), Panasonic (Japan), Texas Instruments (US), Ampleon (Netherlands), Sumitomo Electric (Japan), Northrop Grumman Corporation (US), Dialog Semiconductor (UK), and Epistar (Taiwan).
Research Coverage:
This research report categorizes the global gallium nitride semiconductor device market on the basis of product, frequency band, license type, application, component, and geography. The report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons to Buy the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the gallium nitride semiconductor device market comprehensively and provides the closest market size estimation for subsegments across different regions.
2. The report would help stakeholders understand the pulse of the market and provide them the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches, acquisitions, partnerships, expansions, agreements, contracts, alliances, and collaborations.
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