Market value expected to reach $1315 million by 2021, says Transparency Market Research
Transparency Market Research has published a report this year titled 'GaN Industrial Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021'.
According to the report, the market was valued at $481.8 million in 2014 and is expected to reach $1315 million by 2021, growing at a CAGR of 15.1 percent from 2015 to 2021.
By volume, the global GaN industrial devices market is expected to grow at a CAGR of 17.5 percent during the forecast period from 2015 to 2021 to reach a market size of 3427.2 million units by 2021. In 2014, volume of the market was 1099.6 million units.
Transparency has divided the global GaN industrial devices market into two main segments: power devices and opto electronics. By revenue, opto electronics was the largest contributor to the market in 2014, accounting for 78.0 percent of the overall market. The wide implementation of these devices in LEDs and laser diodes is majorly driving the market.
By application, the global GaN industrial devices market can be further classified into three sub-segments: RF, LEDs and power devices. According to the report, LED segment was the largest contributor to the market, both in terms of value and volume in 2014, accounting for a market share of 68.0 percent and 82.5 percent respectively This is due to the extensive usage of GaN based LED devices in traffic signal lamps, vehicle lamps and liquid crystal displays among others. Moreover, there have been two major developments of GaN based LED technology, such as development of GaN based devices on foreign substrates and the creation of bulk GaN substrate based LEDs.
The global GaN HEMT (RF) market is divided into seven application segments, namely WiMAX/LTE, wireless phone infrastructure: base stations (BTS), CATV, V-SAT, satellite, defence and others. By revenue, wireless phone infrastructure: base stations (BTS) segment was the largest contributor to the market in 2014, accounting for a market share of 26.0 percent. Rising adoption of GaN HEMT technology is leading to an increase in the number of base transceiver station installations.
In terms of value, North America acquired the largest share in 2014, accounting for 31.1 percent of the global market. This is mainly due to high penetration of GaN based transistors in military and defence applications. The penetration of GaN industrial devices is fueled by increasing demand for LEDs in computers, laptops, mobile tablets, gaming devices and televisions. Europe held the second largest market share and accounted for 28.9 percent in the global market in 2014 in terms of revenue.
