Albany, New York, USA (PRWEB) February 25, 2014
According to a new market report published by Transparency Market Research "GaN Semiconductor Devices (Power semiconductors, Opto semiconductors) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the market was valued at USD 379.82 million in 2012, which is expected to reach USD 2,203.73 million by 2019, growing at a CAGR of 24.6% from 2013 to 2019. North America was the largest contributor to global GaN semiconductor devices market accounting for 32.1% of the overall GaN semiconductors devices market in 2012. Asia Pacific is expected to be the fastest growing market for GaN semiconductor devices during the forecast period, growing at a CAGR of 27.7% from 2013 to 2019. This is mainly due to the rapid growth in the electronic industry in Asia Pacific.
Browse GaN Semiconductor Devices Market Report with full TOC at http://www.transparencymarketresearch.com/gallium-nitride.html.
The growing demand for high speed, high temperature and power handling capabilities have made the semiconductor industry rethink upon the designs and materials used in semiconductors. As various faster and smaller computing devices are coming forth, the use of silicon in semiconductors is making it difficult to sustain Moore's Law. Owing to the unique characteristics of GaN such as superior noise factor, high maximum current, high breakdown voltage, and high oscillation frequency, GaN poses to be a unique material of choice for numerous applications such as military, aerospace and defense sector, automotive sector and high power applications such as industrial, solar, power and wind.
GaN is power efficient as it requires less heat sink compared to silicon. Growing application areas as well as increased demand from military is the major driving force for the growth of GaN semiconductor devices market. The increase in demand is mainly due to significant reduction in weight and size of devices obtained by usage of GaN. In addition, developments in improving the breakdown voltage of GaN are expected to boost the usage of GaN in the field of electro-mobility.
In 2012, opto semiconductor was the major product type and accounted for 96.6% of the global GaN semiconductor device market. This was mainly due to adoption of GaN opto semiconductors in military, aerospace, defense and consumer electronics sector. However power semiconductor segment is expected to grow at the fastest rate during the forecast period. This is mainly due to growing need of high power devices for industrial applications.
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Among different applications, military, defense and aerospace sector held the highest market share and was valued at USD 81.68 million in 2012. Consumer electronics was the second largest application segment followed by ICT and automotive sector. With the introduction of 4G network, the demand for high power transistors and base stations is expected to rise. Hence the demand for GaN power semiconductors in ICT is expected to grow at the fastest pace. North America was the market leader in 2012, followed by Europe, Asia Pacific and RoW.
The global Photonic IC market is highly fragmented and competitive. Major industry participants include Fujitsu Limited (Japan), GaN Systems Inc (Canada), Freescale Semiconductors Incorporated (U.S.), International Rectifier Corporation (U.S.), Cree Inc (U.S.), Nichia Corporation (Japan) and RF Micro Devices Inc. (U.S.) among others.