GaN Semiconductor Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 12/22/2015 -- The global GaN market is expanding at a rapid 24.60% CAGR between 2013 and 2019. The market was recorded at US$378.8 mn in 2012. By the end of 2019, the global GaN market is expected to reach US$2.2 bn, according to a research report released by Transparency Market Research titled "GaN Semiconductor Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019".
Browse the full GaN Semiconductor Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/gallium-nitride.html
According to the report, the global GaN market is primarily driven by the growing demand for semiconductors. Gallium nitride is growing in preference as a semiconductor material owing to its several advantageous properties. GaN is a relatively new material with dynamic physical and chemical properties. The material possesses a high saturation velocity and breakdown voltage. This makes GaN one of the more suitable alternatives to gallium arsenide and silicon.
The global GaN market also offers other advantages such as a lower cost of production due to easy availability of raw materials and the higher efficiency rating of energy of GaN semiconductors.The report explains that due to these advantages of GaN, when coupled with the booming industries of automotive, consumer electronics, computers, and ICT, the global GaN market is a rapidly growing market.
A region-wise analysis of the global GaN market reveals North America to have led in 2012 with a share of 32.1%. The report states that the lead in the global GaN market may be transferred to Asia Pacific, which is expected to show a 27.7% CAGR from 2013 to 2019. The Asia Pacific GaN market is bolstered by the rapidly improving economies of China and India. Their rates of industrialization are facilitating a larger market space for the electronics sector.
According to the report, the rate of replacement of incandescent lamps in the automobile industry has increased, as more companies are switching to GaN LEDs. The consumer electronics sector is showing a similar trend of replacing older semiconductors with GaN semiconductors. High demand for smartphones, TVs, laptops, and gaming devices is expected to significantly strengthen the global GaN market.
In terms of applications, the global GaN market is dominated by the military segment, owing to its vast range of uses in the field. The report states that demand from the military segment will continue to grow in the coming years. However, the future of the global GaN market is expected to be dominated by consumer electronics.
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