during the forecast period. The market has a promising growth potential due to several factors, including the wide gap property of GaN material facilitating innovative applications, success of GaN in RF power electronics, and the increasing adoption of GaN RF semiconductor devices for defense and aerospace applications.
New York, June 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gallium Nitride Semiconductor Device Market with COVID-19 Impact Analysis by Device Type, Wafer Size, Application, Vertical And Geography - Global Forecast to 2026" - https://www.reportlinker.com/p05181600/?utm_source=GNW
Opto-semiconductors segment to estimated to hold largest market share in 2026
The opto-semiconductors segment for the GaN semiconductor device market is projected to hold the largest market share in 2026, by device type.The market growth of GaN opto-semiconductor devices can be attributed to the development of GaN opto-semiconductors which are primarily used in consumer and enterprises, industrial, and automotive industries.
GaN light-emitting diodes (LEDs) are used in laptop and notebook displays, mobile displays, projectors, televisions and monitors, signs and large displays, etc.GaN LEDs are also used for interior and exterior lighting in the automotive industry such as headlights and signal lights, car interior lighting, fog lights, stop lights, and dome lights.
In the industrial sector, they are used in warehouses, factories, industrial halls, warehouses, offices, etc.
Renewables vertical segment is estimated to register highest CAGR growth from 2021 to 2026
The renewables segment for the GaN semiconductor device market is estimated to register the highest CAGR growth during the forecast period, by vertical.This rapid growth can be attributed to the use of GaN transistors in designing energy storage systems, which have bi-directional power flow architectures and are simple in design, low cost, and highly efficient.
These benefits offered by GaN has led to the increasing adoption of GaN transistors instead of the conventional silicon-based transistors in energy storage systems and other renewable solutions including AC solar panels, solar DC to AC inverters, and VAR compensators.
APAC is projected to become the largest geographical market by 2026
APAC is projected to register the largest market size of the GaN semiconductor device market by 2026.The implementation of several macroeconomic policies, rising consumerism, digital revolution, advancing wireless infrastructure, trade and economic integration, and increasing disposable income have accelerated the region’s economic growth.
These factors are expected to lead to high growth of verticals such as consumer and enterprise, renewables, automotive, telecommunications, and industrial—where GaN semiconductor devices are extensively used. Moreover, the commercialization of 5G technology in China, South Korea, Japan, and other countries of the APAC region, along with the ongoing technological advancements in wireless communication infrastructure, is expected to spur demand for GaN devices.
Breakdown of profiles of primary participants:
• By Company: Tier 1 = 30%, Tier 2 = 50%, and Tier 3 = 20%
• By Designation: C-level Executives = 25%, Directors = 35%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 40%
• By Region: North America = 55%, APAC = 25%, Europe=15%, and ROW=5%
Major players profiled in this report:
The GaN semiconductor device market is dominated by a few established players such as Cree, Inc. (US), Infineon Technologies (Germany), Qorvo, Inc. (US), MACOM Technology Solutions (US), NXP Semiconductors (Netherlands), Mitsubishi Electric Corporation (Japan), Efficient Power Conversion (EPC) Corporation (US), GaN Systems (Canada), Nichia Corporation (Japan), and Epistar Corporation (Taiwan).
This report offers detailed insights into the GaN semiconductor device market based on device type (opto-semiconductors, radio frequency (RF) semiconductors, power semiconductors), wafer size (2 inches, 4 inches, 6 inches and above), application (lighting and lasers, supplies and inverters, power drives, radio frequency), vertical (automotive, consumer and enterprises, aerospace and defense, industrial, renewables, telecommunications, healthcare), and region (North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) which includes the Middle East, Africa, and South America).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the GaN semiconductor device market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the hearth market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05181600/?utm_source=GNW
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