GAN on Silicon Technology Market REPORT OVERVIEW
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The global GAN on silicon technology market size was 19 million in 2022 and is projected to touch USD 47.61 million by 2031, exhibiting a CAGR of 10.8% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
GAN on silicon technology is a very hard, mechanically stable wide bandgap semiconductor. The product has high thermal conductivity, higher breakdown strength, faster switching speed, and lower on-resistance, and power devices based on GAN significantly outperform silicon-based devices.
The market growth is attributed to the rapid innovation and evolution among end-user and growing focus to improve existing product portfolios. Growing development in electronic sector and increased industrialization is anticipated to accelerate market growth. Increased market players and huge development in industries applications is estimated to surge market progress. Further, rise in demand from automotive sector and huge need for smart watches, tablets, smartphones, and other electrical products is anticipated to boost technology adoption. Further, high adoption rate of microchips and several robotic applications is estimated to drive market growth in the coming years. Increased use of silicon technology is predicted to foster market progress. Growing development in electronic device such as semiconductors, transistors, printed circuit boards, integrated circuits, and others are anticipated to surge market progress in the forthcoming years. On the contrary, lack of innovation and limited handful of industries is predicted to hamper market growth in the forthcoming years. Also, energy efficiency is anticipated to limit market growth in the coming years.
COVID-19 Impact: Lower Manufacturing Activities and Closure of End-User Sector to Harm Market Growth
The sudden spread of COVID-19 pandemic reduced market progress. Lower manufacturing activities and closure of end-user sector to harm market growth. Further, lack of workforce and travel ban hamper import and export activities. These factors to reduced market growth during the pandemic period.
LATEST TRENDS
"Rapid Development in Automotive Sector to Fuel Market Progress"
The increased development in automotive sector and growing demand to increase efficiency in automotive sector is anticipated to drive market growth. Growing awareness about the application of GAN on silicon technology in automotive sector. Rapid innovation of electric vehicles and increased of automotive sector is anticipated to fuel market growth in the forthcoming years. The market is anticipated to witness potential growth owing to increased demand for electric and hybrid vehicles across the globe is anticipated to fuel market growth in the coming years.
GAN on Silicon Technology Market SEGMENTATION
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- By Type
Based on type, the market is divided into 50 mm, 100 mm, 150 mm, and 200 mm.
100 mm is expected to be the top part of type segmentation.
- By Application
Based on the application, the market is divided into consumer electronics, IT and telecommunication, automotive, aerospace and defense, and others.
Consumer electronics are expected to be the top part of application segmentation.
DRIVING FACTORS
"Growing Awareness about the Properties and Applications of GAN on Silicon Technology to Accelerate Market Growth "
The increased awareness about the properties and applications of the equipment such as higher switching speed, higher breakdown strength, higher temperature conductivity, and less resistance. GAN is consider as a power semiconductor of coming decades. The product is capable enough to reach high maturity level and its better performance technology is anticipated to boost market growth in the coming years. Huge investment by key players and rapid development in industries is anticipated to surge market growth. Further, improved performance properties and ongoing R&D activities is estimated to fuel market growth. The technology is a very hard, mechanically stable wide bandgap semiconductor. The product has high thermal conductivity, higher breakdown strength, faster switching speed, and lower on-resistance, and power devices based on GAN significantly outperform silicon-based devices. These advanced features of the product are anticipated to drive market growth in the coming years.
"Rapid Technology Development to Fuel Market Growth"
The increased need to improve technology efficiency is anticipated to boost market growth. Rapid innovation and evolution among end-user and growing focus to improve existing product portfolios. Growing development in electronic sector and increased industrialization is anticipated to accelerate market growth. Increased market players and huge development in industries applications is estimated to surge market progress. Further, rise in demand from automotive sector and huge need for smart watches, tablets, smartphones, and other electrical products is anticipated to boost technology adoption. Further, high adoption rate of microchips and several robotic applications is estimated to drive market growth in the coming years. Increased use of silicon technology is predicted to foster market progress. Growing development in electronic device such as semiconductors, transistors, printed circuit boards, integrated circuits, and others are anticipated to surge GAN on silicon technology market progress in the forthcoming years.
RESTRAINING FACTORS
"Lack of Innovation and Limited Handful of Industries to Hamper Market Progress"
The lack of innovation and limited handful of industries is predicted to hamper market growth in the forthcoming years. Also, energy efficiency is anticipated to limit market growth in the coming years.
GAN on Silicon Technology Market REGIONAL INSIGHTS
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"Growing Usage of Consumer Electronics and Rapid Digitalization in North America to Drive Market Share "
North America is anticipated to hold significant GAN on silicon technology market share owing to rise in demand for advanced technology. Growing usage of consumer electronics due to increased trend of digitalization and huge need for consumer electronic products such as laptops, televisions, smartphones, and others. Also huge adoption of power electronic applications such as AC to DC or DC to AC. Presence of several market players and increased industrialization is anticipated to boost market growth. Further, rise in demand from automotive sector and huge need for smart watches, tablets, smartphones, and other electrical products is anticipated to boost technology adoption. Further, high adoption rate of microchips and several robotic applications is estimated to drive market growth in the coming years. Increased use of silicon technology is predicted to foster market progress. Growing development in electronic device such as semiconductors, transistors, printed circuit boards, integrated circuits, and others are anticipated to surge market progress in the forthcoming years.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- NXP Semiconductor
- GaN Systems
- Panasonic Corporation
- Fujitsu Semiconductor
- Transphorm Inc.
- Texas Instruments
- Qorvo, Inc.
- OSRAM Opto Semiconductors GmbH
- Infineon Technologies AG
- Cree, Inc.
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 19 Million in 2022 |
Market Size Value By |
US$ 47.61 Million by 2031 |
Growth Rate |
CAGR of 10.8% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is GAN on silicon technology market expected to touch by 2031?
The global GAN on silicon technology market size is expected to reach USD 47.61 million by 2031.
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What CAGR is GAN on silicon technology market expected to exhibit by 2031?
The GAN on silicon technology market is expected to exhibit a CAGR of 10.8% by 2031.
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Which are the driving factors of the GAN on silicon technology market?
The driving factors of the GAN on silicon technology market are growing awareness about the properties and applications of gan on silicon technology and rapid technology development.
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Which are the key player or most dominating companies functioning in the GAN on silicon technology market?
NXP Semiconductor, GaN Systems, Panasonic Corporation, Fujitsu Semiconductor, Transphorm Inc., Texas Instruments, Qorvo, Inc., OSRAM Opto Semiconductors GmbH, Infineon Technologies AG, and Cree, Inc are the key player or most dominating companies functioning in the GAN on silicon technology market.
