(MENAFN- Ameliorate Digital Consultancy)
The global gallium oxide substrate market is expected to be worth US$ 4.5 million in 2022 and to grow at an 8.1% CAGR to US$ 9.7 million by the end of 2032.
At the end of 2021, sales of gallium oxide substrate accounted for about 36.3% of the worldwide gallium oxide market. The use of semiconductors drives the market's demand to rise over time.
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Energy efficiency and environmental compatibility in semiconductor devices will continue to compel market players to make significant product developments while keeping the product's nature and recyclability in mind.
Electric power use has more than tripled in the last 30 years. Because scientists and researchers are unable to develop more ways to use silicon, the introduction of renewable energy sources in power devices has notably increased demand for gallium oxide.
The above figure summarises the market share analysis of gallium oxide substrate based on application and region. The visible/ ultraviolet LED sub-segment dominates the application category, accounting for 56.4% of the market in 2022.
Market Players:
Kyma Technologies, Inc. TAMURA Corporation Novel Crystal Technology Others
Because it has numerous ecological and economic benefits that can meet the demanding elements of today's consumers, the growing concerns about preserving nature and the craze for organic products can penetrate the market with robust growth. Thus, organic LED can be considered an effective alternative for today's clients, but it is impeding industry growth.
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Segmentation of Gallium Oxide Substrate Industry Research
By Dopant : By Application : Visible/ Ultraviolet LEDs Power Semiconductors Ultraviolet Detectors
By Region : North America Latin America Europe East Asia South Asia & Oceania MEA
The study further identifies major manufacturing trends, technologies that will be commercialized
Key manufacturing trends in end-use industries; New technologies used in a variety of application areas Key manufacturing trends in end-use industries New technologies used in a variety of application areas; Major economic shocks, such as the recent COVID-19 pandemic Country markets that will emerge as hotbeds of opportunity; Regulatory frameworks that will shape the strategies of key players in key regions in the Gallium Oxide Substrate market Key technological trends and the likely rate of commercialization of novel technologies in key industries and allied industries
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