Gallium Nitride Semiconductor Devices Sales in Information & Communication Technology (ICT) Sector to Increase by 20%, Fact.MR Report

Penetration of 5G Multi-Chip Modules to Push Gallium Nitride Semiconductor Devices Market Past US$ 11.99 Bn by 2032

In the latest market report, Fact.MR explicates the key factors propelling the growth of the gallium nitride semiconductor devices market. It also comprehensively explains the key trends and opportunities & challenges through the leading segments including product, component, wafer size, end-use, and regions.

NEW YORK, March 16, 2022 /PRNewswire/ -- The overall sales of gallium nitride (GaN) semiconductor devices are estimated to reach US$ 1.23 Bn in 2022. The gallium nitride (GaN) semiconductor devices market is anticipated to reach US$ 11.99 Bn, registering staggering growth at 23% CAGR during the forecast period (2022-2032).

Growing demand for lower costs, higher energy efficiency, and faster device speed in industrial and power industry is projected to create prolific opportunities for gallium nitride semiconductor devices over the silicon devices.

Apart from this, gallium nitride is extensively used for reducing vehicle charging time, cost-effectiveness, and to boost driving range in electric vehicles. This is likely to boost the sales in automotive industry.

Increasing venture capital funding for the development and advancements of GaN technology across the automotive, consumer, industrial, and enterprise markets is another factor bolstering the sales in the market.

For Critical Insights on this Market, Request for More Info at:

https://www.factmr.com/connectus/sample?flag=S&rep_id=7137

For instance, Cambridge GaN Devices, a fabless semiconductor company, raised US$ 9.5 million in February 2021 in a Series A round. A slew of such initiatives is anticipated to aid the growth in the gallium nitride semiconductor devices market.

In addition to this, growing adoption of 5G multi-chip modules by various semiconductor companies for energy-efficient mobile networks is likely to drive the market in the coming years.

Demand for gallium nitride semiconductor devices in servo drives for robotics and motion control will further create growth prospects for the market.

Also, increased funding provided by the government bodies, defense, and aerospace industry in research & development (R&D) activities conducted in semiconductor companies is expected to spur the sales in the market.

Key Takeaways:

Growth Drivers:

Restraints:

To Gain In-Depth Insights onGallium Nitride Semiconductor Devices Market, Request Methodology at

https://www.factmr.com/connectus/sample?flag=RM&rep_id=7137

Competitive Landscape:

Key players operating in the global gallium nitride semiconductor devices market are strengthening their global footprints by focusing capacity enhancements to gain a competitive edge in the market.

For instance,

Key Companies Profiled by Fact.MR

More Valuable Insights on Gallium Nitride Semiconductor Devices Market

Fact.MR, in its report, offers a market analysis on the global gallium nitride semiconductor devices market providing unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals the growth of technology in the gallium nitride semiconductor devices market with detailed segmentation as follows:

By Product

By Component

By Wafer Size

By End Use

By Region:

To Remain 'Ahead' of Your Competitors, Buy the Report Now!

https://www.factmr.com/checkout/7137

Key Questions Covered in the Gallium Nitride Semiconductor Devices Market Report

Explore Fact.MR's Coverage on the Industrial Goods Domain

Terahertz Spectroscopic System Market Trends:The overall sales of terahertz spectroscopic system market are estimated to increase due to the rising investment in the pharmaceutical and semi-conductor industries. Furthermore, growing demand for electronic devices is likely to drive the market in the next few years.

Germanium Semiconductor Market Forecast:Rising number of benefits such as cost-effectiveness and consistency offered by germanium semiconductor is anticipated to bolster the expansion of the market. Besides this, the growing need for aesthetics with a superior quality shield in a single package will further propel the sales.

Semiconductor Etch Equipment Market Growth:The semiconductor etch equipment manufacturers are likely to witness surge in demand due to the requirement of standardized processing conditions for the development of diversified products and equipment. Apart from this, the growing demand for electronic devices and next generation high-precision semiconductor etch equipment incorporated the active process control system is projected to contribute to the growth of the market.

About Fact.MR

Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have in our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & chemical and materials, our coverage is expansive, but we ensure even the most niche categories are analysed. Reach out to us with your goals, and we'll be an able research partner.

Access MarketNgage: The On Demand, Subscription based platform from Future Market Insights

www.marketngage.com

Now avail flexible Market Research Subscription through MarketNgage, the Market Research Subscription Platform from Future Market Insights and other iconic market research powerhouses. Go beyond just reports and access research multi-format through downloadable executive summaries, chapters, databooks, infographics, charts, interactive playbook for data visualization and full reports across all major industries, 200+ sub sectors and 1200+ niche markets, throughMarketNgage.

Sign Upfor a 7 day free trial!

Contact:

Mahendra SinghUS Sales Office11140 Rockville PikeSuite 400Rockville, MD 20852United StatesTel: +1 (628) 251-1583E: sales@factmr.com

View original content:https://www.prnewswire.com/news-releases/gallium-nitride-semiconductor-devices-sales-in-information--communication-technology-ict-sector-to-increase-by-20-factmr-report-301503315.html

SOURCE Fact.MR