GaN Semiconductor Devices Market To Cross $72,813.1 Million Value by 2030, says P&S Intelligence

NEW YORK, May 9, 2022 /PRNewswire/ -- In 2021, the global gallium nitride semiconductor devices market was valued at $12,084.6 million, which is likely to reach $72,813.1 million by 2030, growing at a CAGR of 22.1% from 2021 to 2030, according to P&S Intelligence. In 2021, the highest-revenue-generating category was opto-semiconductors, due to the numerous applications of these variants, mainly in consumer electronics and aerospace & defense sectors. Moreover, gallium nitride (GaN) is a mechanically stable wide-bandgap semiconductor with a faster switching speed, higher breakdown strength, and higher thermal conductivity.

Many factors lead to the gallium nitride semiconductor devices market growth, for instance, the rising focus of internet service providers on incorporating high-capacity and low-latency networks using optical cables. As a result, the demand for energy-efficient GaN components and power semiconductors in wired communications will rise.

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Key Findings of Gallium Nitride Semiconductor Devices Market Report

• GaN semiconductors are used in 5G infrastructure; thus, their sales are expected to rise in the future. Because of traffic, data output, and energy efficiency limitations, the 4G technology would be replaced by 5G technology.
  
  
• These semiconductor devices are also being widely used in the defense and aerospace industry since they increase data transfer and execution reliability in military communications and radars. GaN ICs are also frequently used in radars to help with collision avoidance, real-time air traffic monitoring, and efficient navigation.
  
  
• In the near future, the 6-inch category is predicted to have a CAGR of over 25% because of the benefits of 6-inch GaN semiconductors, including precise current control and uniform voltage supply. This has led to increased applications in the automotive, consumer electronics, and defense sectors.
  
  
• North America had the greatest revenue in the gallium nitride semiconductor devices market in 2021, and by 2030, it is estimated to produce over $26 billion. The dominance of the regional market is growing due to the increasing R&D investments by the defense and aerospace sectors.
  
  
• Texas Instruments Incorporated introduced next-generation 600V and 650V GaN field-effect transistors (FETs) in November 2020. These are new high-voltage power management devices, which may be utilized in industrial and automotive applications.
  
  
• Sumitomo Electric Device Innovations USA Inc. and Sumitomo Electric Industries Ltd. announced a line of five new X-band GaN devices in November 2021.

The gallium nitride semiconductor devices market is projected to be positively affected by the growing robot sales throughout the world. Robotic unit sales were 465 thousand in 2020, which is expected to grow to 584 thousand in 2022. The rising demand for automation among manufacturing businesses and technological advancements are expected to boost the demand for robots, which will increase the sales of GaN semiconductor devices.

Browse detailed report on Global GaN Semiconductor Devices Market Growth and Demand Forecast Report, 2030

For maintaining a competitive advantage in the market, key players have been heavily active in product approvals and launches. These players are Efficient Power Conversion Corporation, NXP Semiconductor N.V., Qorvo Inc., NexGen Power Systems Inc., Texas Instruments Inc., Fujitsu Ltd., Freescale Semiconductor Inc., GaN Systems Inc., Infineon Technologies AG, and Toshiba Corporation.

GaN Semiconductor Devices Market Size Breakdown by Segment

Market Segmentation by Product Type

• Radiofrequency Devices
• Opto-Semiconductors
• Power Semiconductors

Market Segmentation by Component

• Power ICs
• Power Transistors
• Diodes & Rectifiers
• Power Discretes

Market Segmentation by Wafer Size

• 2 Inches
• 4 Inches
• 6 Inches
• 8 Inches

Market Segmentation by End Use

• Automotive
• Consumer Electronics
• Military, Defense, & Aerospace
• Medical
• Communications
• Industrial & Power
• Computers

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SOURCE P&S Intelligence