Global GaN Semiconductor Devices Market Insights and Major Trends Encouraging Growth Until the End of 2024

In order to study the various trends and patterns prevailing in the overall market for GaN semiconductor, Market Research Reports Search Engine (MRRSE) has included a new report titled “GaN Semiconductor Devices Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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GaN has excellent properties as a semiconductor, including durability, flexibility in terms of temperature, and high breakdown voltage. These properties have meant that manufacturers supplying defense equipment to governments are preferring this type of semiconductor. It is highly likely that surging demand from the defense sector will continue to create growth opportunities to manufacturers during the forecast period. According to the report, defense and aerospace industry account for a revenue share of nearly 40% of the overall market.

In addition to the defense and consumer electronics sector, the opportunity for manufacturers lies in the medical device manufacturing. The demand from the medical device manufacturing has remained quite limited, however, increasing adoption of GaN in manufacturing biomedical implants is likely to provide impetus to the growth of the market.

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North America remains the most lucrative region for GaN semiconductor devices globally. On account of strong demand from the US defense forces, the GaN market in the region is likely to grow at a robust CAGR during the forecast period. North America accounts for nearly 30% revenue share of the market, and demand for GaN semiconductor devices in the region is likely to strong in the region. In addition to North America, the other key region is Europe, and it is expected that strong adoption in the consumer electronics landscape is likely to provide an impetus to manufacturers.

Some of the leading companies profiled in the report include Toshiba Corporation, Fujitsu Limited, GaN Systems Inc., Efficient Power Conversion Corporation, NXP Semiconductors N.V., Cree Inc. Mersen S.A., Avogy, Inc., and Renesas Electronics Corporation.

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