GaN Industrial Devices Market Future Forecast Assessed On The Basis Of How The Market Is Predicted To Grow

Transparency Market Research, in its latest report, indicates that the GaN Industrial Devices Market is fueled by the introduction of advanced technology, large-scale production, increasing application areas, and the rising demand for improved battlefield performance. The report, titled “GaN Industrial Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021”, states that rising at a 15.10% CAGR from 2015 to 2021, the value of the global GaN industrial devices market is anticipated to grow from US$481.8 mn in 2014 to US$1,315 mn by 2021.

Blossoming economy in developing countries and the development of next-gen hybrid electric vehicles and electric vehicles hold immense opportunities for the development of the GaN industrial devices market. However, high cost of pure gallium nitride is anticipated to restrict its growth in the coming years.

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Based on type, the GaN industrial devices market is bifurcated into opto electronics and power devices. Opto electronics comprises laser diodes and light-emitting diodes and this segment held a 78.0% share in the overall market in 2014. Power devices are further broken down into metal oxide semiconductor field effect transistor (MOSFETs), Schottky diode, high electron mobility transistors (HEMTs), and others.

The key applications of GaN HEMTs are wireless phone infrastructure: base stations, V-SAT, defense, WiMAX/LTE, CATV, satellite, and others. Fueled by the increasing number of base transceiver station installations, base stations held the largest share of 26.0% in the overall market in 2014.

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Based on application, the GaN industrial devices market is segmented into radiofrequency (RF), power device, and light-emitting diodes (LED). Driven by large-scale usage of GaN industrial devices in traffic signal lamps, vehicle lamps, and liquid crystal lamps, LED emerged as the leader in terms of both value and volume. The LED segment accounted for 68.0% of the market in terms of value and 82.50% in terms of volume in 2014.

Based on geography, the global GaN industrial devices market is divided into five key regions: Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Accounting for a share of 31.10% in the overall GaN industrial devices market in 2014, North America emerged as the leader driven by high penetration of GaN-based transistors in military and defense applications and the growing demand for LEDs in computers, tablets, laptops, gaming devices, and televisions. Europe was a close second with a market share of 28.90% in 2014.

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The most prominent players operating in the global GaN industrial devices market include RF Micro Devices Inc., Renesas Electronics Corporation, Fujitsu Limited, Texas Instruments Inc., NXP Semiconductors N.V., International Rectifier, Freescale Semiconductor Inc., International Quantum Epitaxy plc., GaN Systems Inc., Nichia Corporation, Toshiba Corporation, Efficient Power Conversion Corporation, and Cree Inc. These players have been profiled in the GaN industrial devices market based on company and financial overview, business strategies, and recent developments.

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This release was published on openPR.