The global gallium nitride (GaN) industrial devices market is rising at a compound annual growth rate (CAGR) of 15.1% from $481.8m in 2014 to $1315m in 2021, forecasts Transparency Market Research in its report 'GaN Industrial Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021'. By volume, the market is expected to grow at a CAGR of 17.5% from 1099.6 million units in 2014 to 3427.2 million units by 2021.
The report divides the GaN industrial devices market by type into two segments: power devices and optoelectronics. By revenue, optoelectronics was the largest contributor in 2014, accounting for 78% of the overall market, driven by the widespread implementation of these devices in light-emitting diodes and laser diodes.
By application, the report classifies the GaN industrial devices market into three sub-segments: radio frequency (RF), light-emitting diodes (LEDs) and power devices.
The LED segment was the largest contributor, both in terms of value and volume in 2014, accounting for market shares of 68% and 82.5%, respectively, due to the extensive usage of GaN-based LED devices in traffic signal lamps, vehicle lamps and liquid-crystal displays (LCDs) among others. Moreover, there have been two major developments in GaN-based LED technology: GaN-based devices on foreign substrates and LEDs based on bulk GaN substrates.
The GaN high-electron-mobility transistor (HEMT) market is divided into seven segments: WiMAX/LTE, wireless phone infrastructure base transceiver station (BTS), CATV, V-SAT, satellite, defense, and others. By revenue, the wireless phone infrastructure BTS segment was the largest contributor in 2014, accounting for a market share of 26%. Rising adoption of GaN HEMT technology is leading to an increase in the number of base transceiver station installations, notes the report.
In terms of value, North America accounted for the largest share of the global market in 2014 in terms of revenue (31.1%), due mainly to the high penetration of GaN-based transistors into military and defense applications. The penetration of GaN industrial devices is fueled by increasing demand for LEDs in computers, laptops, mobile tablets, gaming devices and televisions, notes the report. Europe accounted for the second largest market share (28.9%).
