The gallium oxide market is expected to show remarkable growth in the next five years. The evolution in semiconductors has significantly changed the overall demand scenario. Due to the better properties of gallium oxide materials, they are being used in various end-use applications.

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The global market for gallium oxide, based on application type, can be categorized into power and high voltage devices, gas sensors, electroluminescent devices, and others. The power and high voltage devices application segment is expected to dominate the market over the forecast period. Electroluminescent devices also hold a significant market share because the exclusive properties of rare-earth dopants are best demonstrated in materials like gallium oxide. The material, when doped with europium and manganese, emits green and red emissions that are considered suitable colors in full-color displays.

In terms of regional demand, North America and Europe together held around a larger share of the total market share in 2019. North America's dominance is attributable to the increasing adoption of gallium oxide products across the various industries. China also holds a notable share in the gallium oxide market in terms of revenue generation due to a strong focus on research and development (R&D), a well-established close-knit supply chain, and the massive growth in emerging end-use markets. China’s rapid growth can also be attributed to the capability of mass production, huge investment in R&D, rising spending on the gallium oxide industry, and support from private entities for the installation of gallium-based technology in all verticals.

Companies active in the gallium oxide market have adopted multiple business and corporate strategies over the past years to maintain/improve their market positioning. While the industry has witnessed a mix of several strategies adopted by companies to evolve their technologies as well as strengthen their market presence, product-centric developments through patents and product developments have been the key features in the market.

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Over the last decade, significant revolutions have been witnessed in the semiconductor industry. From the introduction of low bandgap silicon to several upgrades in the wide bandgap (WBG) materials technology and epitaxy process, the semiconductor industry has always steered ahead in terms of technological innovations. Researchers and semiconductor industry players are experimenting with different materials for years and looking out for the perfect semiconductor material that can be highly advantageous in overcoming the challenges faced by end users. With the advent of gallium oxide, the semiconductor industry devices exhibit the required power efficiency and have significantly improved the reliability of these devices. Gallium oxide has the required technological characteristics and electronic properties, increasing their applicability across major end-use industries.

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