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GaN Semiconductor Device Market Size, Share, Current Scenario and Growth Prospec

The GaN semiconductor device market is estimated to be worth USD 21.1 billion in 2023 and is projected to reach USD 28.3 billion by 2028, at a CAGR of 6.1% during the forecast period. Increasing adoption of GaN semiconductor devices in consumer and business enterprises, surging deploymnet of GaN semiconductor devices in energy & power industry, and growing integration of GaN semiconductor devices in automotive industry are some of the major factors driving the market growth globally.

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GaN Semiconductor Device Market Size, Share, Current Scenario and Growth Prospec

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  1. MarketsandMarkets Presents GaN Semiconductor Device Market Size, Share, Current Scenario and Growth Prospects to 2023-2028 GaN Semiconductor Device Market by Type (Opto-semiconductor, RF Semiconductor, Power Semiconductor), Device (Discrete, Integrated, HEMT, MMIC), Application (Lighting and Lasers, Power Drives), Voltage Range, Vertical and Region- Global Forecast to 2028 https://www.marketsandmarkets.com/Market-Reports/gallium-nitride-gan-semiconductor-materials-devices-market-698.html

  2. The GaN semiconductor device market is estimated to be worth USD 21.1 billion in 2023 and is projected to reach USD 28.3 billion by 2028, at a CAGR of 6.1% during the forecast period. Increasing adoption of GaN semiconductor devices in consumer and business enterprises, surging deploymnet of GaN semiconductor devices in energy & power industry, and growing integration of GaN semiconductor devices in automotive industry are some of the major factors driving the market growth globally. Browse 194 market data Tables and 65 Figures spread through 254 Pages and in-depth TOC on "GaN Semiconductor Device Market - Global Forecast to 2028"

  3. Discrete semiconductor segment to register largest market share in the GaN semiconductor device market during forecast period Discrete GaN semiconductor components include GaN transistors and GaN diodes that are individually packaged and marketed. These components are used in diverse applications such as power supply units, inverters, and radio frequency (RF) amplifiers. GaN transistors and diodes effectively manage substantial voltage and current levels, leading to powerful designs. Additionally, they enable more compact and lightweight circuits suitable for applications where constraints on size and weight are paramount. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=698 Power & Energy to register highest CAGR in the GaN semiconductor device market during forecast period The energy & power segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the rising integration of GaN semiconductor devices into electronic systems to work in elevated temperatures, pressures, and voltages. Moreover, The GaN semiconductor technology foresees extensive adoption in energy and power solutions, encompassing realms such as energy storage systems, solar DC to AC inverters, AC solar panels, and volt-ampere reactive (VAR) compensators in the future.

  4. Asia Pacific held for the largest share of the GaN semiconductor device market in 2022 Asia Pacific is accounted for the largest share of the GaN semiconductor device market in 2022. The presence of established several semiconductor manufacturing companies such as Toshiba (Japan), Nichia Corporation (Japan), and Mitsubishi Electric (Japan), increasing integration in consumer & business enterprise verticals, government-led initiatives for innovation and industrial development are the major factors driving the market growth in Asia Pacific. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=698 Key Market Players The major players in the GaN semiconductor device companies include Qorvo, Inc. (US), Wolfspeed, Inc. (US), Sumitomo Electric Industries, Ltd. (Japan), MACOM Technology Solutions Holdings, Inc. (US) and Infineon Technologies AG (Germany). These companies have used both organic and inorganic growth strategies such as product launches, agreements, collaborations, acquisitions, partnerships and expansions to strengthen their position in the market.

  5. GaN Semiconductor Device Market Ecosystem The prominent players in the GaN semiconductor device market are Qorvo, Inc. (US), Wolfspeed, Inc. (US), Sumitomo Electric Industries, Ltd. (Japan), MACOM Technology Solutions Holdings, Inc. (US) and Infineon Technologies AG (Germany). These companies perform organic and inorganic growth strategies to expand themselves globally by providing advanced products of GaN semiconductor devices.

  6. Opportunity: Growing integration of GaN semiconductor devices in automotive industry The automotive industry is experiencing a rise in demand for GaN semiconductor devices, which are used to improve the performance efficiency of electrification, connectivity, and autonomous driving. The limitations of power conversion in silicon semiconductor devices have led to an increased demand for GaN, which provides improved efficiency, speed, and smaller size to automotive electronics. GaN semiconductor devices can be used in several automotive applications such as hybrid and electric power DC-DC converters, Lidar and driver assist (ADAS) and autonomous navigation systems, motor drives, infotainment systems, and in Class D Audio systems. Therefore, the automotive industry is likely to see an increase in the deployment of GaN semiconductor Challenge: Manufacturing complexities associated with GaN semiconductor devices GaN semiconductor devices involve several manufacturing complexities due to their unique properties and material characteristics. The epitaxial growth of GaN layers on substrates is an important step in GaN device manufacturing. These layers must be grown with crystalline quality and low defect density to achieve the desired optimal device performance. Likewise, while going through all the manufacturing processes, equipment, and materials, factors like thermal coefficients, polarization effects, bandgap and chemical stability, dopants in the crystal lattice, a stable gate insulator layer, crystal defect management, and thermal stability play an important role. These challenges can be resolved by launching reliable testing methods.

  7. About MarketsandMarkets MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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