The global GaN market was valued at US$ 4.21 Bn in 2018 and is expected to reach US$ 9.12 Bn by the end of the forecast period, growing at a CAGR of 16.74% during the period from 2018 to 2023.
Gallium nitride (GaN) is a binary III/V direct bandgap semiconductor, which is commonly used in light-emitting diodes (LEDs) since the 1990s. The compound is a very hard material that it has a Wurtzite crystal structure. The global Gallium Nitride market value estimated for 2023 is more than $9 billion and has a CAGR of more than 16% from 2018.
This market is growing swiftly mainly because of the importance that GaN is gathering in the manufacturing of radio frequency (RF) components, semiconductors, and light emitting devices. Likewise, some properties that GaN displays such as high breakdown voltage, high thermal and heat capacity, large electric field, low conduction resistance, and high-speed switching, etc. make it an important component in the electronic devices. This further fuel the market for GaN on the global platform. Considering the rising traction, the market is experiencing presently, the global Gallium Nitride market will observe a substantial increase soon.
Furthermore, the swift adoption of automated devices and the rising usage of wireless charging are boosting the market growth. Robots with Gallium Nitride elements have the proficiency to perform delicate surgeries, which is likely to boost the requirement for GaN over the predicted period. Also, the latent usage of GaN in 5G infrastructure is projected to boost the market progression over the predicted period. However, the elevated production cost of GaN devices may confine the market development to some extent.
The aspects validating the market growth comprise escalating industries such as aerospace, telecommunication, automotive, ICT, healthcare, and consumer electronics. The truncated production cost of GaN-based devices is supporting the market growth. Additionally, technological progressions combined with the increasing requirement for extra bandwidth from the end user of electronic devices, are estimated to boost the GaN market over the next five years.
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Recent Developments in the Market:
RF (Radio Frequency): In June 2018, RF GaN wideband power transistors were launched by NXP Semiconductors NV and the Airfast third-generation Si-LDMOS portfolio of macro and outdoor small-cell solutions were expanded for these power transistors thus, to enable the next -generation technology – 5G mobile network.
Grenoble, France: In Oct 2018, Exagan, a GaN Semiconductor Specialist formed Taiwan subordinate and opened application and sales centre in Taipei to accelerate the use of GaN in Server and Charger Markets. This enhanced growth and the use of swift, perceptive GaN power solutions in the region.
Cree Inc.: In Mar 2018, at approximately EUR 345 million, the assets of Infineon Technologies AG RF Power Business were acquired by the Cree Inc. This possession has fortified the company’s leading position in RF GaN-on-SiC technologies. This also offers access to other customers and markets and augments the packaging capability.
Key Questions Answered in the Report:
• What is the market value and volume of the overall market and its segments?
• What are the key segments and sub-segments in the market?
• Which is the largest sub-segment in each segment in the scope of the study?
• What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?
• What are the attractive segments and geographies to invest in?
• What is the market value and volume at the regional and at the country level?
• Who are the key market players and their key competitors?
• Who are the key market players at different stages of the value chain?
• What are the strategies for growth adopted by the key players in the market?
• How does a company rank against its competitors with respect to revenue, profit comparison, operational efficiency, cost competitiveness, and market capitalization?
• How financially strong are the key players in the market (on the basis of revenue and profit margin, market capitalization, expenditure analysis, investment analysis)?
• What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)
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Related Reports on GaN Market:
Global GaN Market Summary Report
Global GaN Market Segmentation Report
Global GaN Market Regional Report
Global GaN Market Competitive Intelligence & Company Profiles Report
Global GaN Market Statbook
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