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The Global Gallium Nitride (GaN) Semiconductor Devices Market size is expected to reach $2.8 billion by 2023, rising at a market growth of 16% CAGR during the forecast period. Growing demand for power electronics, which consume relatively lesser power and also are energy efficient are the factors that would limit the market growth. GaN-based semiconductors possess dynamic electrical and chemical properties, such as high-voltage breakdown and saturation velocity making them a great choice in wide range of switching devices. It is believed that Gallium Nitride would be a better substitute to silicon, as it is highly efficient and consumes lesser power. Additionally, Gallium Nitride would be a perfect material for manufacturing power electronic devices.
Based on Product Type, the market report segments the market into Opto-Semiconductors, Power Semiconductors, and GaN Radio Frequency Devices. Based on Wafer Size, the market report segments the market into 4 inch, 2 inch, 8 inch, and 6 inch. Based on Application, the Gallium Nitride (GaN) Semiconductor Devices market report segments the market into Information & Communication Technology, Consumer Electronics, Aerospace & Defense, Automotive, Industrial & Power, Healthcare, and Others Based on Regions, the Gallium Nitride (GaN) Semiconductor Devices market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the competition analysis of key stake holders of the Global Gallium Nitride (GaN) Semiconductor Devices Market. Key companies profiled in the report include NextGen Power Systems, Inc., Cree, Inc. (Wolfspeed), Efficient Power Conversion Corporation, Inc., GaN Systems, Inc., Toshiba Corporation,Fujitsu Limited,NXP Semiconductors N.V., Texas Instruments Incorporated, Infineon Technologies AG, and Qorvo, Inc.