According to a new research publication by Transparency Market Research, the global GaN semiconductor devices market that was valued at US$379.82M in 2012, is estimated to reach US$2,203.73M by the end of 2019, registering growth at a remarkable CAGR of 24.6% during the forecast period of 2013 to 2019.
The report, titled “GaN Semiconductor Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, states that North America emerged as the largest market for GaN semiconductor devices in 2012, accounting for 32.1% of the overall market share. However, Asia Pacific is projected to register the maximum growth rate of 27.7% during the forecast period. The increase in demand for GaN semiconductor devices in the Asia Pacific region will be fuelled by rapid industrialization in the electronics segment.
Gallium Nitride (GaN) is a hard semiconductor material used in the manufacture of semiconductor devices. GaN has dynamic electrical and chemical properties such as high voltage breakdown and saturation velocity that makes it a perfect choice for application across a wide range of switching devices. GaN has been growing more in popularity in recent times compared to its contemporaries such as silicon and gallium arsenide because it offers competitive advantages such as reduction in the cost of devices and elimination of cooling requirements. An overall increase in demand for energy-efficient semiconductor devices has been noted in recent years. This, coupled with increased application areas especially in the field of computers, consumer electronics, industrial sector, ICT, and automotive sector, has bolstered the growth of the global GaN semiconductor devices market.
The automotive sector is fast replacing incandescent lamps with GaN LEDs, while in the consumer electronics sector the GaN semiconductors market is expected to be driven by the increase in demand for devices such as laptops, television, smartphones, and gaming devices. The report indicates that at present, the military segment is dominating the global GaN semiconductor device market with most number of application areas. The military sector will continue to register impressive growth trends over the rest of the forecast period owing to the incessant need for enhanced performance. However, according to the report, the consumer electronics segment will dominate the global GaN semiconductor device market as an undisputed leader over the forthcoming years. On the basis of geography, the report has segmented the global market for GaN semiconductor devices into four distinct regions, namely, North America, Asia Pacific, Europe, and Rest of the World (RoW).
Browse the full GaN Semiconductor Devices Market (Power semiconductors, Opto semiconductors) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/gallium-nitride.html
Additionally, the report profiles leading companies dominating the market. The prominent players profiled by the report include International Rectifier Corporation (U.S.), Freescale Semiconductors Incorporated (U.S.), RF Micro Devices Inc. (U.S.), GaN Systems Inc (Canada), and Fujitsu Limited (Japan).
About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
SOURCE: Transparency Market Research (TMR)