The global market of Gallium Nitride is expected to grow at a substantial rate with a CAGR of 9.6% and revenue is expected to rise to USD $220 million for the forecast period 2021-2027. Gallium nitride is widely used in semiconductor devices. The increasing use of gallium nitride technology devices as they have high-frequency, high-voltage, and high-temperature applications will propel the growth of the gallium nitride market globally.

There is an increase in adoption of white LEDs, high investment in R&D, increase in penetration of consumer electronic devices, rapidly expanding hybrid electric vehicles and electric vehicles, and increase adoption in military & defense will boost the growth of the GaN market.

Amidst the COVID-19 outbreak, various industries have been temporarily halted or are working with a minimum workforce due to lockdown and restrictions by the government. There is a decrease in the need of power semiconductors and power ICs and a decrease in demand for the electronics and automotive sector which has affected the growth of the GaN market but the market is slowly picking its pace and there is an increase in demand for electronics products and services.

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Based on Wafer Size, the market is segmented into the 2-inch wafer, 4-inch wafer, and 6-inch and above wafer. The 6-inch and above wafer segment is expected to have a high CAGR during the forecast period because of its advantages such as uniform voltage supply and precise current control. It is widely used in the defense equipment and the consumer electronics sector as it has high breakdown voltage and low current leakage.

North America is expected to have the largest market share during the forecast period owing to the rise in the adoption of electric vehicles and their use in various applications such as white-light LEDs. Also, there is an increase in investments in R&D by the defense and aerospace sector and providing contracts to various companies operating in the region.

In March 2019, Cree, Inc. completed the acquisition of Advanced Technology Materials Corp., a manufacturer of GaN semiconductor devices. With the acquisition, the company extended its geographic presence in China.

Some of the key players operating in the gallium nitride market: Cree, Inc., Infineon Technologies AG, Efficient Power Conversion Corporation, GaN Systems Inc., NXP Semiconductors, Qorvo, Inc, Texas Instruments Incorporated, Toshiba Corporation, Epistar Corporation, and Mitsubishi Electric Corporation.

Source: VynZ Research