Technology - - Jul 13,2017
As per statistics, the global GaN semiconductor devices market is expected to surge at an exponential CAGR of 17.0% during 2016 and 2024.
In the present time, global GaN semiconductor devices market is experiencing rapid growth due to important characteristics such as low power consumption, better thermal stability, high resistance to temperature and very high breakdown voltage. Hence, the need for GaN semiconductor is widely renowned as a green technology across several end-user industries.
As per a latest report published by Market Research Reports Search Engine (MRRSE), the global market for GaN semiconductor devices is expected to hike at an impressive CAGR of 17.0% over the period between 2016 and 2024. Considering this pace, the market might acquire a valuation of US$3,438.4 million by 2024.
It is interesting to know that, one of the key end-use industries linked to the use of GaN semiconductor devices include the utility across the defense and aerospace industry, which is seen as the dominant contributor to the overall market revenue at present. Looking at the statistics of 2015, this end-use segment occupied a share of more than 40% from the overall market.
Looking into the future prospects, applications such as electronic warfare, improvised explosive device (IED) jammers and radar communication are expected to lead to a viable rise in demand for GaN semiconductor devices in the concerned sector in the coming years.
Considering the geographical aspect, the market for GaN semiconductor devices in North America commands the dominant position viewing the global expanse. In terms of revenue, the North American market for GaN semiconductor devices accounted for a share of 30% in the global market, as reported in 2015. The prime players from this sector include manufacturers such as Avogy, Inc., Renesas Electronics Corporation, Fujitsu Limited, Mersen S.A and GaN Systems Inc.
For more information on this report visit- http://www.mrrse.com/gallium-nitride