GaN Semiconductor Device Market is expected to reach USD 1,842.8 million by 2023, registering a CAGR of 17.1%, over the forecast period| Dominant Vendors - TOSHIBA CORPORATION, PANASONIC CORP., CREE INC., GAN SYSTEMS INC., OSRAM GMBH, amongst others

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. The demand for smartphones, gaming devices, laptops, and TVs is also expected to offer a modest growth potential to the GaN semiconductor device market, in the consumer electronics sector. With the mature market of smartphones and laptops, although consumer electronics held the largest share in the recent years, it is expected to reduce its pace, thus paving the way for the expansion of the aerospace & defense industry. Besides, the replacement of incandescent lamps with GaN LEDs in automobiles and the growing demand for electric vehicles are augmenting the growth rate of GaN semiconductor devices in the automotive sector.

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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, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• November 2017 - Osram and Continental planned a joint venture for intelligent lighting solutions in the automotive sector. This venture was implemented to lead Osram and Continental to combine semiconductor-based lighting modules, advanced electronics, optics, and software expertise, with access to sensor technology and innovative light sources.
• October 2017 - GaN Systems and Taiwan’s Ministry of Economic Affairs (MOEA) entered a Letter of Intent, to collaborate on expanding the economic and technical benefits of GaN technology, to Taiwan’s electronics companies.

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