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The Worldwide Gallium Nitride Semiconductor Devices Industry is Expected to Reach $24.9 Billion by 2026 at a CAGR of 5.2% from 2021DUBLIN, June 23, 2021 /PRNewswire/ -- The "Global Gallium Nitride (GaN) Semiconductor Devices Market with COVID-19 Impact Analysis by Device Type (RF, Power, Opto), Wafer Size, Application, Vertical (Consumer & Enterprises, Automotive, Telecommunications), and Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering. The global GaN semiconductor devices market is estimated to be USD 19.4 billion in 2021 and is projected to reach USD 24.9 billion by 2026, at a CAGR of 5.2% during the forecast period. The market has a promising growth potential due to several factors, including the wide gap property of GaN material facilitating innovative applications, success of GaN in RF power electronics, and the increasing adoption of GaN RF semiconductor devices for defense and aerospace applications. Opto-semiconductors segment to estimated to hold largest market share in 2026 The opto-semiconductors segment for the GaN semiconductor device market is projected to hold the largest market share in 2026, by device type. The market growth of GaN opto-semiconductor devices can be attributed to the development of GaN opto-semiconductors which are primarily used in consumer and enterprises, industrial, and automotive industries. GaN light-emitting diodes (LEDs) are used in laptop and notebook displays, mobile displays, projectors, televisions and monitors, signs and large displays, etc. GaN LEDs are also used for interior and exterior lighting in the automotive industry such as headlights and signal lights, car interior lighting, fog lights, stop lights, and dome lights. In the industrial sector, they are used in warehouses, factories, industrial halls, warehouses, offices, etc. Renewables vertical segment is estimated to register highest CAGR growth from 2021 to 2026 The renewables segment for the GaN semiconductor device market is estimated to register the highest CAGR growth during the forecast period, by vertical. This rapid growth can be attributed to the use of GaN transistors in designing energy storage systems, which have bi-directional power flow architectures and are simple in design, low cost, and highly efficient. These enefits offered by GaN has led to the increasing adoption of GaN transistors instead of the conventional silicon-based transistors in energy storage systems and other renewable solutions including AC solar panels, solar DC to AC inverters, and VAR compensators. APAC is projected to become the largest geographical market by 2026 APAC is projected to register the largest market size of the GaN semiconductor device market by 2026. The implementation of several macroeconomic policies, rising consumerism, digital revolution, advancing wireless infrastructure, trade and economic integration, and increasing disposable income have accelerated the region's economic growth. These factors are expected to lead to high growth of verticals such as consumer and enterprise, renewables, automotive, telecommunications, and industrial - where GaN semiconductor devices are extensively used. Moreover, the commercialization of 5G technology in China, South Korea, Japan, and other countries of the APAC region, along with the ongoing technological advancements in wireless communication infrastructure, is expected to spur demand for GaN devices. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Gallium Nitride Semiconductor Device Market, by Device Type 7 Gallium Nitride Semiconductor Device Market, by Wafer Size 8 Gallium Nitride Semiconductor Device Market, by Application 9 Gallium Nitride Semiconductor Device Market, by Vertical 10 GaN Semiconductor Device Market, Geographical Analysis 11 Competitive Landscape 12 Company Profiles 13 Appendix For more information about this report visit https://www.researchandmarkets.com/r/llpfzl Media Contact: For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1904 View original content:http://www.prnewswire.com/news-releases/the-worldwide-gallium-nitride-semiconductor-devices-industry-is-expected-to-reach-24-9-billion-by-2026-at-a-cagr-of-5-2-from-2021--301318526.html SOURCE Research and Markets |