In a recent published report, Kenneth Research has updated the market report for Gallium Nitride Semiconductor Device Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2024, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2024. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2024. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2024. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2024 till March 2024 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Gallium Nitride Semiconductor Device Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Gallium Nitride Semiconductor Device Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2024 2030. The Gallium Nitride Semiconductor Device Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
The Global Gallium Nitride Semiconductor Device Market was valued at USD 16.68 billion in 2016 and is projected to reach USD 25.33 billion by 2025, growing at a CAGR of 4.75% from 2017 to 2025.
Gallium nitride (GaN) is a binary III/V direct bandgap semiconductor commonly used in light-emitting diodes. GaN has the potential to reduce energy loss of the power devices; it possesses high breakdown voltage and low conduction resistance characteristics that enable high-speed switching and miniaturization. GaN semiconductor devices possesses low resistance giving lower conductance losses, faster device yielding less switching losses, less capacitance, less power needed to drive the current, and is cost efficient.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Increasing use of GaN in 5G infrastructure
1.2 Application in electric and hybrid electric vehicle
1.3 Rising adoption of GaN in RF-power electronics
1.4 Increasing adoption of GaN RF semiconductors in various industries
1.5 Rising GaN power semiconductor revenue due to consumer electronics and automotive market
2. Market Restraints
2.1 High material and fabrication cost
2.2 Design complexities for better efficiency
2.3 Availability of SiC in high-voltage semiconductor applications
Market Segmentation:
The Global Gallium Nitride Semiconductor Device Market is segmented on the device type, wafer size, application, vertical, and region.
1. Device Type:
1.1 Power Semiconductor
1.2 RF Semiconductor
1.3 Opto Semiconductor
2. By Wafer Size:
2.1 2 Inch
2.2 4 Inch
2.3 6-Inch and Above
3. By Application:
3.1 Radio Frequency
3.2 Power Drivers, Lighting and Laser
3.3 Supply and Inverter
3.4 Others
4. By Vertical:
4.1 Military, Defense, and Aerospace
4.2 Automotive
4.3 Consumer and Enterprise
4.4 Medical
4.5 Industrial
4.6 Telecommunication
4.7 Renewable
4.8 Others
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Qorvo
2. Infineon
3. Samsung
4. Mitsubishi Electric
5. Efficient Power Conversion (EPC)
6. Cree
7. Microsemi
8. Analog Devices
9. Macom
10. Panasonic
11. Sumitomo Electric
12. Texas Instruments
13. GaN Systems
14. Nichia
15. Northrop Grumman Corporation
16. Dialog Semiconductor
17. Epistar
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Gallium Nitride Semiconductor Device Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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