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The global gallium nitride (GaN) semiconductor devices market is expected to reach $4.37 billion by 2025, according to a new study by Grand View Research, Inc. The growing applications of GaN in a wide variety of semiconductor devices are expected to augment the market growth. Additionally, the rapid technological advancements in performance of GaN-based semiconductors are anticipated to further promote the market growth.
GaN is rapidly replacing the existing silicon technology has become the preferred choice for power semiconductor applications. Various properties, such as high breakdown voltage, wider band gap, large critical electric field, and high thermal conductivity, enable GaN devices to operate at higher voltages, high-power density, and high switching frequencies and to offer improved power efficiency over pure silicon-based devices.
Benefits, such as high-temperature tolerance, thermal conductivity, and power density, offered by GaN-based semiconductors are promoting their application in the defense industry. Moreover, the growing expenditure and investment in the defense sectors of developed as well as developing countries are presumed to further drive the industry growth. Moreover, the growing demand for Internet-of-Things (IoT) is increasing the demand for GaN-based semiconductor devices, due to additional benefits, such as wider bandgap, large electric filed, and high breakdown voltage, offered by them.
Further key findings from the study suggest:
- The GaN radio frequency devices segment is expected to grow at the highest CAGR 20.4% from 2017 to 2025. This can be primarily attributed to the growing demand for these products in varied applications across automotive, healthcare, consumer electronics, and defense & aerospace sectors, among others.
- The 6 inch wafer segment is anticipated to experience grow with the highest CAGR of 21.8% from 2017 to 2025, owing to the benefit of precise current control and voltage supply.
- Asia Pacific regional market is anticipated to emerge as the fastest growing region, owing to the surge in demand for efficient and high-performance RF components
- The key industry participants include NexGen Power Systems, Inc., GaN Systems, Inc., Fujitsu Ltd., Toshiba Corporation, Qorvo, Inc., Cree, Inc., Efficient Power Conversion Corporation, Inc., and NXP Semiconductor N.V., among others