Northrook, IL -- (SBWIRE) -- 05/04/2020 -- The Gallium Nitride Semiconductor device market to grow to USD 22.5 billion by 2023 from USD 16.5 billion in 2016, at a CAGR of 4.6% during the forecast period.

The major factors that are expected to be driving the market are the vast addressable market for gallium nitride in consumer electronics and automotive, wide bandgap property of gallium nitride material encouraging innovative applications, success of gallium nitride in RF power electronics, and increasing adoption of gallium nitride RF semiconductor device in military, defense, and aerospace application. The objective of the report is to define, describe, and forecast the GaN Semiconductor device market size based on wafer size (2 inch, 4 inch, and 6 inch and above), device type, application, vertical, and geography.

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GaN Semiconductor Device Market By wafer size, the 4 inch wafer size GaN holds the largest share

The gallium nitride semiconductor device market for 4 inch wafer accounted for the largest share in 2016. It is mainly used in devices such as optoelectronics devices, high power devices, high-temperature devices, and high-frequency power devices. The market for 4 inch GaN wafers is expected rise because of its applications in power device, LEDs, and radio frequency

GaN Semiconductor Device Market By device type, the GaN based power drives to record the highest CAGR during the forecast period

The GaN semiconductor device market for gallium nitride-based power drives is expected to grow significantly during the forecast period owing to its ability to minimize power loss and achieve high-speed switching with characteristics such as miniaturization, high breakdown voltage, and high-speed switching. Also, the large total addressable market such as power distribution systems, industrial systems, heavy electrical systems, turbines, heavy machinery, advanced industrial control systems, and electromechanical computing/computer systems; and is also inclusive of several new power applications (clean-tech) such as high-voltage direct current (HVDC), smart grid power systems, wind turbines, wind power systems, solar power systems, and electric and hybrid electric vehicles are among the prime reasons for its faster growth.

GaN Semiconductor Device Market in APAC to account for the largest market size during the forecast period.

Gallium Nitride semiconductor device market in APAC is expected to hold the largest share of the market during the forecast period. This is attributed to the increasing demand from LEDs in various industries such as consumer and enterprise, industrial, and automotive. Further, EV charging, and electric vehicle production markets, and increasing renewable energy generation are boosting the market in APAC. The region is also expected to showcase the growing demand for these devices in numerous applications such as industrial, computing, telecommunications, consumer and enterprise, automotive and military, and aerospace & defense in Asian countries such as China, Japan, Taiwan, the Philippines, and India.

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Key Market Players
Cree (US), Samsung (South Korea), Infineon (Germany), Qorvo (US), MACOM (US), Microsemi Corporation US), Analog Devices (US), Mitsubishi Electric (Japan), Efficient Power Conversion (US), GaN Systems Canada), Exagan (France), VisIC Technologies (Israel), Integra Technologies (US), Transphorm (US), Navitas Semiconductor (US), Nichia (Japan), Panasonic (Japan), Texas Instruments (US), Ampleon Netherlands), Sumitomo Electric (Japan), Northrop Grumman Corporation (US), Dialog Semiconductor (UK), Epistar (Taiwan).

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