Gallium nitride (GaN) is a mechanically stable binary III/V direct bandgap semiconductor with a wide bandgap of 3.4 electron volt (eV). It is a material that can be used in the production of semiconductor power devices as well as radio frequency (RF) components and light-emitting diodes (LEDs).

This compound possesses high breakdown voltage and low conduction resistance characteristics that enable high-speed switching and miniaturization. Unlike the conventional silicon (Si) devices that require bigger chip area to reduce on-resistance, GaN devices having small sizes (i.e., low parasitic capacitance) allow high-speed switching and miniaturization with ease.

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and adoption of growth strategies. These players have a broad portfolio of products that caters to most regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and well-established brand equity.

Most of the dynamic players are classified as companies which focus on specifically one or two technologies, however, hold a fair position in the market along with a presence in various regions globally. These players have low product offerings with stronger business strategies. The vibration monitoring market has many companies operating since the past decade, which are largely dependent on their competitive R&D activities.

Innovators demonstrate substantial product innovation compared to their competitors. They have a highly focused product portfolio. However, they do not have very strong growth strategies for their overall business. The rugged display market moderately depends on innovators as high capital investment is required for manufacturing and developing new technology-based display devices and it is not easy for new players to enter this market. The market is mature and is dominated majorly by visionary leaders, which are also the major innovators in the market.

Emerging companies have niche service offerings and are starting to gain their position in the market. Their business strategies are not as strong as those other established vendors. They might be new entrants in the market and require some more time before getting significant traction in the market.