The Gallium Nitride (GaN) market takes into account of many market stimulants that impacts the markets' dynamics. A major leading force that contributes towards the growth of the GaN market is the increasing demand for power electronics applications. These advantages of GaN, such as high electron mobility and large bandgap, allow it to be a much better material for power devices than usual. Electronic systems around the world are in the period of transition to higher efficiency and smaller size with the growing popularity of GaN-based power devices.
An essential market factor is the increase in the focus on renewable energy sources. GaN has numerous uses in solar inverters and EV power systems. They provide an enabling technology for clean and sustainable energy around the world. The renewable energy sphere development, motivated by environmental considerations and governmental undertakings, stimulates demand for GaN-based devices.
Market research estimates the industry to grow from USD 21.20 billion in 2020 to USD 28.42 billion in 2030 with an average annual increase of 4.30% between 2021 and 2030.
The telecommunications industry is responsible for a huge part of shaping the market of GaN. Rising demand of higher frequency and power for wireless applications like 5G networks is also one of the driving factors for GaN technology use. The property of GaN to work on higher frequencies with reduced power losses places it as an enviable option for the ever changing telecommunications equipment.
In addition, GaN sector is greatly affected by consumer electronics industry. Increased consumer demand for space-saving, energy-efficient, and high-end electronic devices with GaN-based chips is seen in the product lines such as power adaptors, chargers, and audio amplifiers. The segment for consumer electronics serves as a powerful driver for the increasingly widespread adoption of GaN technology across everyday equipment.
The government regulations and initiatives are also playing a vital role in deciding the GaN market situations. Supportive policies that encourage the use of GaN across a range of applications, along with grants offered to research and development, spark the interest of firms in GaN technologies. Moreover, rules aimed at increasing energy efficiency and reducing carbon emissions play the role of these markets’ development by making GaN-based power devices more popular.
Moreover, the competitive environment and the market trends have major control over the GaN market. Improvement of technology, new product development, and strategic partnerships among the main competitors drive the evolution of the industry. Given that companies invest in research and development in order to stay ahead of the competition, GaN technology improvements and investments are common features in business strategies.
Global Gallium Nitride Market Share, by End-Use Industry (%)
The gallium nitride market is segmented into five key regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
North America is leading the global GaN market followed by Europe and rest of the world. Countries like the U.S. and Canada contribute majorly to the market growth owing to the fast-paced and sophisticated lifestyle. The increasing demand for LEDs in consumer goods such as television, computers, laptops, and gaming devices has propelled the market growth to some extent.
Europe is also expected to witness the strong market growth of GaN devices in the forecast period. GaN is identified as ‘key enabling technology’ by the European Space Agency (ESA) for space and founded GREAT2 (GaN reliability enhancement and technology transfer) for technological innovations.
Asia Pacific is expected to emerge as the fastest growing market for gallium nitride due to the growing demand for efficient, high performance, cheap RF electronics, and availability of raw material suppliers. Countries such as China, India, and Japan have high sales and revenue, which, in turn, increase the market growth. South Korea, Taiwan, and Australia also consume a significant amount of GaN owing to the growing end-user industries in this region.
The global gallium nitride market is segmented on the basis of type, end-use industry, and region.
Based on the type, the market is further segmented into p-type and n-type.
The end use industry is segregated into automotive, consumer electronics, defense and aerospace, healthcare, information and communication technology, and others.
Geographically, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Some of the prominent players in the global GaN market are Cree Inc. (the U.S), GaN systems (Canada), FUJITSU (Japan), Efficient Power Conversion Corporation (the U.S), IQE plc (U.K), Koninklijke Philips N.V. (the Netherlands), Infineon Technologies Ag (Germany), Mitsubishi Chemical Corporation (Japan), ON Semiconductor (the U.S), Taiwan Semiconductor Manufacturing Company (Taiwan), Panasonic Corporation (Japan), Texas Instruments Incorporated (the U.S), TOSHIBA CORPORATION (Japan), VisIC (Israel), and Nippon Telegraph and Telephone Corporation (Japan).
Recent Development
Intended Audience
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)