Gallium Nitride Market Share 2018-2023 | Cree Inc., TOSHIBA CORPORATION, IQE plc, FUJITSU, GaN systems, Taiwan Semiconductor Manufacturing Company

Gallium nitride is majorly used in the production of semiconductors, LEDs, and RF devices. GaN is widely accepted as green technology across most of the industries due to the properties such as high thermal stability, low power consumption, temperature resistance, and high voltage breakdown. Additionally, the GaN devices are smaller in sizes and lighter in weight, which further drives the market growth. The unique properties of GaN and its low cost over silicon have been the major driver of the global market and is expected to continue growing in the near future.

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Top 15 Key Players:

Cree Inc.
GaN systems
FUJITSU
Efficient Power Conversion Corporation
IQE plc
Koninklijke Philips N.V.
Infineon Technologies Ag
Mitsubishi Chemical Corporation
ON Semiconductor
Taiwan Semiconductor Manufacturing Company
Panasonic Corporation
Texas Instruments Incorporated
TOSHIBA CORPORATION
VisIC
Nippon Telegraph
Telephone Corporation

Market Overview:

The global gallium nitride market is growing rapidly mainly due to the prominence GaN is garnering in the manufacturing of semiconductors, radio frequency (RF) components, and light emitting devices (LEDs). Besides, a range of properties that GaN exhibits such as high thermal and heat capacity, high breakdown voltage, low conduction resistance, large electric field, and high-speed switching, etc. make it a vital component in the electronic devices. This further escalates the market of GaN on the global platform.

Acknowledging the increasing traction the market perceives currently; Market Research Future (MRFR) in its recently published study report asserts that the global Gallium Nitride market will witness a significant growth by 2023, registering a striking CAGR during the assessment period (2017 – 2023).

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Owing to the high-speed switching that GaN allows, it gains an edge over Si conductors, garnering popularity in the electronics sector. GaN has a wide band gap, which is highly recommended for optoelectronic, high frequency, and high-speed devices. Also, to its capacity to operate at a high temperature and voltage GaN is extensively used for power amplifiers manufacturing in microwave frequencies.

Furthermore, the considerable stability in the radiation environment GaN demonstrates, benefits the space and military applications. Additionally, GaN transistors offer favourable characteristics to terahertz (THz) devices. All these factors commutatively support the market growth of GaN, helping it to garner huge market prominence.

Additional factors substantiating the market growth include burgeoning industries such as automotive, aerospace, ICT, telecommunication, healthcare, and consumer electronics. The low production cost of GaN-based devices is acting as a tailwind to the market growth. Furthermore, technological advancements coupled with the augmenting demand for the extra bandwidth from the end-user of electronic devices are expected to drive the market of GaN over the next five years.

On the other hand, price volatility and the demand and supply gap in the raw materials required in the production of GaN are some of the factors are obstructing the market growth, intimidating to the GaN manufacturers.

Regional Analysis:

Globally, the North American region accounts for the dominating market for gallium nitride, holding the largest market share. The US backed by the presence of well-developed aerospace, and automobile industries contribute to the growth of the regional market majorly. Moreover, growing consumer electronics market fosters the market growth in the region.

Simultaneously, the fast-paced and high-quality lifestyle along with the increasing demand for LEDs in consumer goods such as television, computers, laptops, and gaming devices fosters the market growth in the region.

The European region accounting for the second largest market for GaN is expected to witness the advent of many GaN devices during the forecast period. The European Space Agency (ESA) for space acknowledges GaN as ‘key enabling technology.’ ESA has brought about many novel technological innovations such as GREAT2 (GaN reliability enhancement and technology transfer). Besides two well-established and burgeoning sectors – Automotive Aerospace provide impetus to the market.

The gallium nitride in the Asia Pacific region, on the other hand, is emerging as the most promising space, growing rapidly. The region is vibrating with rapid economic growth especially in the countries such as India and China. India is increasingly becoming a hub for technology, automotive and aerospace among others with the steady flow from foreign investors. Owing to the availability of cost-competitive labor force and ample feedstock required for the manufacturing of GaN, key players are increasingly shifting their production bases to India and China which is pushing up the market growth in the region on the furthered heights.

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This release was published on openPR.