The global gallium nitride device market was valued at USD 20.56 billion in 2019 and is expected to grow from USD 21.18 billion in 2020 to USD 39.74 billion by 2032, registering a CAGR of 5.20% during the forecast period from 2020 to 2032. North America led the market in 2019, accounting for a 35.89% overall revenue share.

A list of all the prominent Gallium Nitride Device Market Key Players:

• Infineon Technologies AG (Germany)
• Efficient Power Conversion Corporation. (The U.S.)
• EPISTAR Corporation (Taiwan)
• GaN Systems (Canada)
• MACOM (The U.S.)
• Microsemi (The U.S.)
• Mitsubishi Electric Corporation (Japan)
• NICHIA CORPORATION (Japan)
• Northrop Grumman Corporation (The U.S.)
• NXP Semiconductors. (Netherland)
• Qorvo, Inc (The U.S.)
• Texas Instruments Incorporated. (The U.S.)
• Toshiba Corporation (Japan)

Drivers & Restraints

Expansion of the Telecommunications Sector to Boost Growth
The increasing demand for energy-efficient gallium nitride (GaN) devices is being driven by the rapid expansion of the telecommunications sector. Many internet service providers are now prioritizing lower latency through optical fiber connections, along with enhancing connectivity and network capacity. Additionally, the growing adoption of GaN devices in 5G infrastructure is expected to further accelerate market growth in the coming years. However, the high costs associated with the maintenance and development of gallium nitride devices may pose a challenge to this growth.

Segmentation- Gallium Nitride Device Market

Opto-semiconductor Device Segment to Grow Rapidly Backed by Increasing Usage in Lasers

Based on device type, the opto-semiconductor device segment procured the highest gallium nitride device market share in 2019. This growth is attributable to their increasing usage in various aerospace applications, such as Light Detection and Ranging (LiDAR) and pulsed lasers. Besides, they are used in optoelectronics, LEDs, lasers, photodiodes, and solar cells.

Regional Insights- Gallium Nitride Device Market

High Demand for Wireless Devices to Favor Growth in Europe

Geographically, North America generated USD 7.38 billion in 2019 because of the presence of numerous prominent manufacturers, such as MACOM, Cree, Inc., Northrop Grumman Corporation, Efficient Power Conversion Corporation, Microsemi, and others in this region.

Europe, on the other hand, is anticipated to grow significantly on account of the rising demand for wireless devices in Germany, France, and the U.K. In Asia Pacific, the rising demand for gallium nitride devices from emerging nations, such as India and China would aid growth.

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessinsights.com/gallium-nitride-gan-devices-market-103367

KEY INDUSTRY DEVELOPMENTS:

In May 2021: Raytheon Technologies Corporation entered into partnership with GlobalFoundries to develop and commercialize a gallium nitride (GaN) on silicon process for 5G and 6G RF. The GaN process technology improves RF performance. It maintains operational and production costs and enables levels of power and power efficiency for 5G and 6G RF millimeter-wave operating frequency standards.

In January 2021: Yaskawa Electric Corporation, a Japanese power electronics firm, entered into a partnership with Transphorm, a GaN-based power conversion product provider in California. Under the agreement, Yaskawa will use Transphorm’s GaN power devices for industrial power conversion applications that include variable frequency drives and servo motors.

In February 2021: Northrop Grumman signed a contract worth USD 236.9 million with the U.S. Department of Defense to develop eight gallium nitride active electronically scanned array radar systems for the U.S. Marine Corps.