GaN Semiconductor Market to represent a significant expansion at CAGR of 17.0% by 2024

GaN Semiconductors Market: Overview

GaN (Gallium Nitride) Semiconductor is most commonly used in LEDs (Light Emitting Diodes). It is a III/V direct band-gap semiconductor having a Wurtzite Crystal structure. Some other applications include, high frequency and high power devices, and optoelectronic devices.

Research Report Insights (RRI) pegs the growth opportunity of the global GaN semiconductor devices at US$3,438.4 mn by 2024. The market, which had a valuation of US$870.9 mn in 2015, is expected to exhibit an exponential CAGR of 17.0% over the period between 2016 and 2024 to achieve this feat.

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GaN Semiconductors Market: Segmentation

On the basis of Wafer Size, the global GaN Semiconductors market can be segmented as follows,

2 inch
4 inch
6 inch
8 inch
The global GaN Semiconductors market can also be segmented by Products,

Power Semiconductors
GaN Radio Frequency Devices
Opto-semiconductors
With regards to the application, the global GaN Semiconductors market is segmented as,

Information and Communication Technology
Automotive
Consumer Electronics
Defense and Aerospace
Others
GaN Semiconductors Market: Drivers

The accelerated demand from consumers for energy efficient power electronics is expected to act as a driving factor for the global GaN Semiconductors market. Gallium Nitride Semiconductors have dynamic chemical and electrical properties, such as high saturation velocity and voltage breakdown that enable such semiconductors to be the appropriate choice for utilization in various switching devices. As compared to the silicon technology semiconductors, GaN Semiconductors provide other benefits, such as higher power density, thermal conductivity and temperature tolerance, thus propelling the global GaN Semiconductors market.

GaN Semiconductors Market: Regional Outlook

The global Automotive Steering System market is segmented into the following regions – North America, Latin America, Europe, APAC, and Middle East and Africa. The GaN Semiconductors market in APAC is expected to register the most lucrative growth over the forecast period owing to the increasing demand for high performance and energy efficient radio frequency components.

Currently, North America is the largest contributor in the global GaN Semiconductors market.

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GaN Semiconductors Market Key Players: Efficient Power Conversion Corporation, NXP Semiconductors N.V., GaN Systems Inc., and Cree Inc. are these top four companies in the market. Other key vendors in the market are Mersen S.A., Avogy, Inc., Fujitsu Limited, Toshiba Corporation, and Renesas Electronics Corporation.

Research Methodology:

RRI surveys a number of companies in order to estimate the data covered in the report through triangulation methodology. A detailed market understanding and assessment of the drive and application segments covered in the study. The research methodology also includes interviews conducted for various industry leaders by the research experts. This helps the researchers to match their previous findings with the ones confirmed from various resource persons. The report focuses on analyzing the supply-side approaches and keeps a track of that of the demand-side so as to make sure the findings are true. The global market scenario has been derived by consolidation of regional market overviews.

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This release was published on openPR.