GaN Semiconductor Device Market to grow from a market value of USD 711.44 million in 2017 to USD 1,842.8 million by 2023| Major Vendor - TOSHIBA CORPORATION, PANASONIC CORP., CREE INC., GAN SYSTEMS INC., INFINEON TECHNOLOGIES AG, OSRAM GMBH, EFFICIENT POW

Market Analysis:

Asia-Pacific expected to Witness the Fastest Growth Rate
The lower labor and production costs in Asia-Pacific are other crucial factors fueling the growth of this market. Moreover, owing to increasing production and export of consumer electronics products from China and Japan, Asia-Pacific is expected to hold the highest share in the GaN semiconductor market by 2023.

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The growing demand for radio frequency in the semiconductor market, booming consumer electronics market (particularly LED-based lighting and displays) and increasing electric vehicles and photovoltaic inverters are some of the major drivers of the GaN semiconductor device market. With the advent of semiconductors made from gallium nitride, many chipmakers are now using GaN to make chips that support wireless electricity (WiTricity), which can also help in the growth of market. However, the high production cost of gallium nitride as compared to silicon carbide, is one of the major factors which might hinder the growth of the global market.

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Market Segments:
GaN Semiconductor Device Market is segmented by:
1. Type: Power Semiconductors, Opto Semiconductors, RF Semiconductors
2. End-user Industry, Automotive, Consumer Electronics, Aerospace & Defense, Healthcare, Information & Communication Technology, Other End-user Industries
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the market
In 2017, Tesla Motors announced plans to open its first manufacturing site outside the United States, in Shanghai.
Furthermore, Maruti Suzuki, the country’s biggest car manufacturer, has teamed up with Toyota, to launch its first electric car by 2019-2020. These factors are expected to increase the demand for GaN semiconductor in India.
In addition, the Indian government has announced an investment of 2.5% of its GDP on healthcare, starting from 2020 (USD 57 billion according to 2016 GDP), further increasing the demand for GaN semiconductors in healthcare segment.

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This release was published on openPR.