Gallium Nitride Semiconductor Device Market worth $24.9 billion by 2026 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 10, 2021 /PRNewswire/ -- According to the new market research report "Gallium Nitride Semiconductor Device Market with COVID-19 Impact Analysis by Device Type (RF, Power, Opto), Wafer Size, Application, Vertical (Consumer and Enterprises, Automotive, Telecommunications), and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the market is projected to reach USD 24.9 billion by 2026, at a CAGR of 5.2% between 2021 to 2026. The global GaN semiconductor device market will grow to USD 24.9 billion by 2026 (forecast year) from USD 19.4 billion in 2021 (estimated year), at a CAGR of 5.2% between 2021 to 2026. The key drivers fueling the growth of this market include the wide gap property of GaN material facilitating innovative applications, success of GaN in RF power electronics, and the increasing adoption of GaN RF semiconductor devices for defense and aerospace applications.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=698

The RF semiconductor devices to register second-highest CAGR during the forecast period

The market for GaN RF semiconductors is expected to exhibit the second-highest CAGR during the forecast period. Initially developed for improvised explosive device (IED) jammers in Iraq, GaN has emerged as the technology of choice for all new microwave and millimeter-wave electronics including radar, satellite, communications, and electronic warfare. The growing need for high power in the very high frequency (VHF), ultrahigh-frequency (UHF), and microwave bands has led to the demand for devices that can supply tens to hundreds of watts at RF frequencies up to 10 GHz and beyond. This demand is expected to drive the future market growth of GaN.

The 6-inch and above GaN wafer segment to register highest CAGR during the forecast period

The 6-inch and above GaN wafer segment of the GaN semiconductor device market, by wafer size, is projected to register the higher CAGR during the forecast period. Wafers in this size range offer manufacturers the ability to increase productivity and produce a large number of devices in a single batch. This, in turn, helps to bring down the overall cost of manufacturing 6-inch wafers making them one of the most cost-effective GaN wafers available in the market. This has become one of the main reasons owing to which the companies have been developing their semiconductor devices based on GaN wafers of 6-inches and above in recent years.

Browse in-depth TOC on "Gallium Nitride Semiconductor Device Market"
176 – Tables
55 – Figures
246 – Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=698

APAC is projected to hold the largest share of the GaN semiconductor device market in 2026

APAC is expected to hold the largest share of the GaN semiconductor device market in 2026. APAC has witnessed exponential growth in industrial activities in terms of the number of foundries, wafers, fabrication, assembly, testing, and packaging facilities in Asian countries such as China, Taiwan, and South Korea. The region is also witnessing an increase in the manufacturing and imports of electric vehicles along with the growing domestic consumption of these products. With the increase in the adoption of electric vehicles and the establishment of charging stations for the same in the region, the opportunities for the GaN semiconductor device market are expected to accelerate in the future.

Cree, Inc. (US), Infineon Technologies (Germany), Qorvo, Inc. (US), MACOM Technology Solutions (US), NXP Semiconductors (Netherlands), Mitsubishi Electric Corporation (Japan), Efficient Power Conversion (EPC) Corporation (US), GaN Systems (Canada), Nichia Corporation (Japan), and Epistar Corporation (Taiwan) are the key players in the global GaN semiconductor device market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, joint ventures, collaborations, agreements, and acquisitions to increase their market share.

Related Reports:

Power Electronics Market with COVID-19 Impact Analysis by Device Type (Power Discrete, Power Module and Power ICs), Material (Silicon, Silicon Carbide and Gallium Carbide), Voltage (Low Voltage, Medium Voltage and High Voltage), Vertical (ICT, Consumer Electronics, Industrial, Automotive & Transportation, Aerospace & Defense), and Geography - Global Forecast to 2025

RF Semiconductor Market by Device (Filter, Power Amplifier, Switch, Low Noise Amplifier), Frequency Band, Material (GaAs, GaN, Si) Application (Consumer Devices, Automotive, Telecommunication, Aerospace & Defense), and Region - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/gallium-nitride-gan-semiconductor-materials-devices-market.asp  
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/gallium-nitride-semiconductor.asp

View original content:http://www.prnewswire.com/news-releases/gallium-nitride-semiconductor-device-market-worth-24-9-billion-by-2026--exclusive-report-by-marketsandmarkets-301309929.html

SOURCE MarketsandMarkets