Gallium Nitride (GaN) Market to Perceive a Vigorous Growth; Asserts MRFR Unleashing the Insights up to 2023| By Type (P-Type And N-Type)
Gallium Nitride (GaN) Market to Witness Significant Growth by 2023; Asserts MRFR Unleashing the Forecast for 2017-2023
Gallium Nitride (GaN) Market is growing rapidly mainly due to the prominence GaN is garnering in the manufacturing of semiconductors, radio frequency (RF) components, and light emitting devices (LEDs). Besides, a range of properties that GaN exhibits such as high thermal and heat capacity, high breakdown voltage, low conduction resistance, large electric field, and high-speed switching, etc. make it a vital component in the electronic devices. This further escalates the market of GaN on the global platform.
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Acknowledging the increasing traction the market perceives currently; Market Research Future (MRFR) in its recently published study report asserts that the global Gallium Nitride market will witness a significant growth by 2023, registering a striking CAGR during the assessment period (2017 – 2023).
Owing to the high-speed switching that GaN allows, it gains an edge over Si conductors, garnering popularity in the electronics sector. GaN has a wide band gap, which is highly recommended for optoelectronic, high frequency, and high-speed devices. Also, to its capacity to operate at a high temperature and voltage GaN is extensively used for power amplifiers manufacturing in microwave frequencies.
Furthermore, the considerable stability in the radiation environment GaN demonstrates, benefits the space and military applications. Additionally, GaN transistors offer favourable characteristics to terahertz (THz) devices. All these factors commutatively support the market growth of GaN, helping it to garner huge market prominence.
Additional factors substantiating the market growth include burgeoning industries such as automotive, aerospace, ICT, telecommunication, healthcare, and consumer electronics. The low production cost of GaN-based devices is acting as a tailwind to the market growth. Furthermore, technological advancements coupled with the augmenting demand for the extra bandwidth from the end-user of electronic devices are expected to drive the market of GaN over the next five years.
On the other hand, price volatility and the demand and supply gap in the raw materials required in the production of GaN are some of the factors are obstructing the market growth, intimidating to the GaN manufacturers.
Global Gallium Nitride Market – Segmentations
MRFR has segmented its analysis into three key dynamics for enhanced understanding.
By Types: P-Type and N-Type among others.
By End-Use Industries: Automotive, Consumer Electronics, Defense, Aerospace, Information & Communication Technology and Healthcare, among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
Global Gallium Nitride Market – Geographical Analysis
Globally, the North American region accounts for the dominating market for gallium nitride, holding the largest market share. The US backed by the presence of well-developed aerospace, and automobile industries contribute to the growth of the regional market majorly. Moreover, growing consumer electronics market fosters the market growth in the region.
Simultaneously, the fast-paced and high-quality lifestyle along with the increasing demand for LEDs in consumer goods such as television, computers, laptops, and gaming devices fosters the market growth in the region.
The European region accounting for the second largest market for GaN is expected to witness the advent of many GaN devices during the forecast period. The European Space Agency (ESA) for space acknowledges GaN as ‘key enabling technology.’ ESA has brought about many novel technological innovations such as GREAT2 (GaN reliability enhancement and technology transfer). Besides two well-established and burgeoning sectors – Automotive Aerospace provide impetus to the market.
The gallium nitride in the Asia Pacific region, on the other hand, is emerging as the most promising space, growing rapidly. The region is vibrating with rapid economic growth especially in the countries such as India and China. India is increasingly becoming a hub for technology, automotive and aerospace among others with the steady flow from foreign investors. Owing to the availability of cost-competitive labor force and ample feedstock required for the manufacturing of GaN, key players are increasingly shifting their production bases to India and China which is pushing up the market growth in the region on the furthered heights.
Global Gallium Nitride Market – Competitive Landscape
The competitive market of gallium nitride appears to be fragmented due to several large and small key players along with the new entrants are forming a competitive landscape. These players try to gain competitive advantage through the strategic partnership, acquisition, expansion, collaboration, and product/technology launch. Large investments are transpired in the R&D to bring novelty in the product and its applications across the industries.
Key Players:
Some of the eminent leaders of the market include GaN systems (Canada), Cree Inc. (the U.S), FUJITSU (Japan), IQE plc (U.K), Efficient Power Conversion Corporation (the U.S),Koninklijke Philips N.V. (the Netherlands), Mitsubishi Chemical Corporation (Japan), Infineon Technologies Ag (Germany), ON Semiconductor (the U.S), Panasonic Corporation (Japan), Taiwan Semiconductor Manufacturing Company (Taiwan), Texas Instruments Incorporated (the U.S), VisIC (Israel), Nippon Telegraph and Telephone Corporation (Japan), and TOSHIBA CORPORATION (Japan).
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Industry/Innovation/Related News:
October 09, 2018 — Lockheed Martin (US), a global aerospace, defense, security and advanced technologies company announced receiving of a contract modification to incorporate gallium nitride into U.S. Army radars used to protect soldiers from indirect fire. The company said that updating the AN/TPQ-53 radar technology with GaN can help increase the system’s performance to acquire counterfire targets.
GaN has some added benefit of increasing system reliability and reducing lifecycle ownership costs. The transition to GaN will provide the Q-53 with additional power for capabilities including long-range counterfire target acquisition.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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