Gallium Nitride Market Importance, Segmentations, Gross Margin and Segment Forecasts 2020 – 2027
The global gallium nitride market is expected to be valued at USD 320.4 Million in 2027 from USD 69.3 Million in 2019, registering a CAGR of 20.8 % through the forecast period. Gallium nitride (GaN) is a wide bandgap semiconductor that finds extensive usage in blue light-emitting diodes (LEDs), integrated circuits, and high-efficiency power transistors. The superior characteristics of gallium nitride, such as higher switching speed and robust resistance to extreme temperatures, make it the most suitable replacement for other conventional semiconductors. The use of GaN semiconductors significantly enhances the performance of specific electronic components. Moreover, gallium nitride offers numerous advantages over other semiconductor materials, such as Silicon, Aluminum, and Silicon Carbide. Revenue from the global gallium nitride market is projected to register a substantial growth rate over the forecast period. The global market growth is mainly attributed to the extensive usage