The global Gallium Nitride (GaN) Semiconductor Devices Market size is expected to witness significant growth over the forecast period. Gallium nitride is a robust material that encompasses several chemical properties due to which it is suitable in the manufacturing of various semiconductor devices. The global GaN market has been facing rigid competition from Silicon Carbide (SiC) semiconductor devices sector, over the past few years. However, the popularity of the product is anticipated to grow at a fast pace on account of tremendous rise in its application markets.
Development of new technologies and increasing application scope of the product are the key drivers of this market. GaN-based devices have tremendous applications in hybrid and electric vehicles, while expensive industrial processes are one of the key challenges for this market. Another significant factor driving the GaN semiconductor devices market is the rise in the Radio Frequency (RF) semiconductor devices industry. The RF electronics industry has marginally different needs on characteristics of its components, semiconductor devices, and electronic devices associated with other segments of the global electronics sector.
The global Gallium Nitride semiconductor devices market is interconnected to the communications industry and involves usage of electronic devices to function at a wide range of communication frequencies, from standard frequencies to high ones, depending on the applications. Gallium nitride semiconductor material has great power characteristics, as well as high operating frequency. The product is widely used in the manufacturing of blue light-emitting diodes for Blu-ray disc players and blue laser diodes. The growth of this sector is expected to have a positive impact on the industry over the next seven years.
Among the several product applications, consumer electronics sector accounted for the largest market share over the past few years. This was attributed to wide usage of the product in LED-based display and LED-based lighting. The communication sector was the fastest-growing and second-largest application segment driven by the high product penetration in RF-based applications, including power electronics switching equipment.
Rising product demand from the industrial sector and solar power and wind energy industry is anticipated to fuel the growth of the global Gallium Nitride (GaN) semiconductor devices market over the forecast period. Rising application scope of the product in the aerospace and defense sectors, apart from Electric Vehicles (EVs), is also expected to offer numerous growth opportunities for the market development over the forecast period. These devices are much lighter, smaller, efficient, and tougher than silicon semiconductor devices.
They also work as perfect alternatives for their silicon comparable devices, which have hit the maturity stage. Several additional features offered by GaN-based devices include better stability in some radiation environments and low sensitivity to ionizing radiation. Gallium nitride devices also have a scope in high-end power appliances in the military, defense and aerospace sectors, solar cell arrays, and in satellites, which are expected to fuel Gallium Nitride semiconductor devices market growth over the next few years. The market also has enormous revenue potential in transportation and automotive sector, mainly in the Hybrid Electric Vehicles (HEV) and EV segments of the industry.
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Increasing demand for HB LEDs in numerous application segments including automotive, television, smartphones, general lighting, and signs owing to their lower energy consumption and superior brightness is expected to drive the demand. Rising consumer awareness regarding the benefits of using HB LED such as lower power consumption and superior brightness for residential as well as commercial applications are expected to bolster growth.
Demand for these lighting solutions was highest in consumer electronics including laptops, TV backlight and smartphones to provide superior luminescence even in dark lighting conditions. The segment accounted for 56.3% of the market share in 2016 and is expected to continue its dominant trend over the projected period. Increasing consumption of HB LEDs in 4K TVs coupled with the growing sales of these products is anticipated to drive the market over the next few years.
Automotive is expected to exhibit the fastest growth over the forecast period at a 10.2% CAGR from 2017 to 2024. Although LEDs have penetrated the automotive market, HB LEDs are increasingly used as a safety measure for visibility along with reducing the power consumption. Increasing production of automobiles is expected to propel the sales of these lighting solutions over the next few years.
Keeping these driving factors in mind, companies are ramping up their production capacity as well as seeking out new joint ventures to improve their distribution system. For instance, in March 2017, Samsung signed a MoU with Elec-Tech International (H.K) Co, Ltd. to leverage the latter’s technology and market share in China. On the other hand, ETi is likely to benefit from Samsung’s patent protection and brand strength.
As the demand for high-brightness LEDs has been growing, it has led companies to increase their fabs. The LED manufacturing industry has roughly added 100 new fabs in the last five years increasing the tally to 169 fabs worldwide.
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