RF GaN Market - Historical Analysis, Current Market Scenario and the Potential of the Market till 2023
Market Synopsis
The Global RF GaN (Gallium Nitride) Market is estimated to expand at a CAGR of 21.6%, displaying substantial expansion during the review period. The market was valued at USD 415.3 million in 2017, it is estimated to value USD 1295.5 million by 2023. The increased demand for energy & power applications and IT & telecommunication instruments and are estimated to affect the global RF gallium nitride market 2020 during the review period.
Advancements in RF power amplifiers are most likely to generate an opportunity for RF GaN market. But the competition from silicon carbide (SiC) equipment is likely to hinder the market during the review period.
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Key Players
The major competitors across the globe are RF GaN market is Qorvo Inc. (US), NXP Semiconductors N.V. (Netherlands), Microchip Corporation (US), STMicroelectronics N.V. (Switzerland), Analog Devices Inc. (US), ROHM Semiconductors (Japan), Toshiba Corporation (Japan), Aethercomm Inc. (US), Cree Inc (US), Raytheon Company (US), among others.
Market Segmentation
The global RF GaN market has been segmented on the basis of material type, region, and application.
On the basis of material type, the RF GaN market has been classified into GaN-on-Silicon, GaN-on-SiC, and GaN-on-Diamond. The GaN-On-SiC segment seized the maximum market share in the year 2017, with a market value of USD 246.2 million; it is estimated to record the maximum CAGR during the review period. The GaN-On-Silicon vertical held the second-highest value and recorded a CAGR of 21.6% during the review period. The GaN-on-SiC (Gallium Nitride-on-Silicon Carbide) materials have several applications across the industrial segments which include aerospace & defense and telecom. Owing to its thermal conductivity, high performance, reliability, and cut-off frequency. But due to the high cost of production of GaN-on-Diamond RF instruments, not many organizations have invested in it so far.
On the basis of application, the RF GaN market has been classified into aerospace, military and defense, IT and telecommunication aerospace.
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Regional Market Segmentation
The global RF GaN market, on the basis of geography, has been classified into Europe, North America, Asia-Pacific, and the Rest of the World (RoW). North America is estimated to lead the RF GaN market during the review period since end-users are well informed of modern technology and are progressively investing in establishing modern services in the region.
Europe held the second position in 2017, which valued at USD 113.36 million; the market is estimated to display a CAGR of 20.99%. The region is estimated to experience notable backing and initiatives from several governments to establish the production of RF GaN. Europe acquires a considerable market share in the RF GaN market; the UK seizes an important position in the key market vertical. The RF GaN market in Europe is expanding due to the existence of worldwide popular competitors such as NXP Semiconductors NV, STMicroelectronics NV, INEX Microtechnology Ltd., and United Monolithic semiconductors.
Asia-Pacific is likely to expand at the highest CAGR of 22.82% during the review period. As per the Market Research Future Reports (MRFR) reports, about 30% of the consumer disposable income is generated by Asia; it is estimated to grow double by 2030. China, India, and Japan are the major competitors in the region. The commencement of 5G networks across several nations in the region is estimated to increase the demand for RF GaN devices. China holds the maximum market share of 35.9% in 2017, holding a market value of USD 26.8 million; the market is likely to exhibit the highest CAGR of 24.8% during the review period. Japan held the second-largest market in 2017, valued at USD 24.2 million; the market is likely to exhibit a CAGR of 22.6%.
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