Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "GaN Semiconductor Devices Market Report and Forecast 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global GaN semiconductor devices market reached approximately USD 3.03 billion in 2023. Aided by the increasing demand for high-efficiency power devices and the growing applications of GaN (Gallium Nitride) semiconductor devices in various sectors, the market is projected to grow at a CAGR of 26.3% between 2024 and 2032, reaching a value of around USD 24.68 billion by 2032. 
The increasing demand for high-efficiency power devices is a primary driver of the GaN semiconductor devices market growth. As the demand for energy-efficient solutions continues to grow across multiple sectors, GaN semiconductor devices are being increasingly adopted due to their superior performance and efficiency. These devices are widely used in power supplies, inverters, and electric vehicles, where high efficiency and compact size are crucial.
Additionally, the expanding applications of GaN semiconductor devices in the telecommunications sector are propelling the market. The increasing deployment of 5G networks and the rising demand for high-frequency and high-power RF devices are driving the adoption of GaN semiconductor devices. These devices offer higher power density and efficiency, making them ideal for use in 5G base stations and other RF applications.
The growing focus on renewable energy and the adoption of GaN semiconductor devices in solar inverters and wind turbines also play a significant role in propelling the GaN semiconductor devices market expansion. GaN devices are used in power conversion systems for renewable energy sources, improving the efficiency and reliability of these systems. The increasing investments in renewable energy projects and the emphasis on reducing carbon emissions are driving the demand for GaN semiconductor devices.
Technological advancements and the integration of innovative solutions in GaN semiconductor devices are contributing to the GaN semiconductor devices market development. The development of advanced GaN materials and the use of novel manufacturing techniques are enhancing the performance and reliability of GaN devices. These innovations are driving the demand for high-performance GaN semiconductor devices in various applications.
Power devices, including transistors, diodes, and rectifiers, hold a significant portion of the GaN semiconductor devices market share. These devices are widely used in power supplies, inverters, and motor drives due to their high efficiency and fast switching capabilities.
As per the GaN semiconductor devices market analysis, RF devices, including amplifiers, switches, and mixers, are expected to witness substantial growth during the forecast period. The increasing deployment of 5G networks and the rising demand for high-frequency RF devices are driving the adoption of GaN RF devices.
Optoelectronic devices, including LEDs and laser diodes, are also anticipated to grow significantly. GaN-based optoelectronic devices offer superior performance and efficiency, making them ideal for lighting and display applications. Other types of GaN semiconductor devices include sensors and detectors, which are used in various applications requiring high sensitivity and accuracy.
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global GaN semiconductor devices market. Some of the major players explored in the report are as follows:
- Efficient Power Conversion Corporation (EPC)
- NXP Semiconductors N.V.
- Wolfspeed, Inc.
- Texas Instruments Incorporated
- Fujitsu Limited
- Infineon Technologies AG
- MACOM Technology Solutions Inc.
- Toshiba Corporation
- Panasonic Holdings Corporation
- GaN Systems Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 183 |
| Forecast Period | 2024-2032 |
| Estimated Market Value (USD) in 2024 | $3.81 Billion |
| Forecasted Market Value (USD) by 2032 | $24.68 Billion |
| Compound Annual Growth Rate | 26.3% |
| Regions Covered | Global |
Key Topics Covered
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Gallium Nitride Semiconductor Devices Market Analysis
8.1 Key Industry Highlights
8.2 Global Gallium Nitride Semiconductor Devices Historical Market (2018-2023)
8.3 Global Gallium Nitride Semiconductor Devices Market Forecast (2024-2032)
8.4 Global Gallium Nitride Semiconductor Devices Market by Type
8.5 Global Gallium Nitride Semiconductor Devices Market by Devices
8.6 Global Gallium Nitride Semiconductor Devices Market by Wafer Size
8.7 Global Gallium Nitride Semiconductor Devices Market by End Use
8.8 Global Gallium Nitride Semiconductor Devices Market by Region
9 North America Gallium Nitride Semiconductor Devices Market Analysis
9.1 United States of America
9.2 Canada
10 Europe Gallium Nitride Semiconductor Devices Market Analysis
10.1 United Kingdom
10.2 Germany
10.3 France
10.4 Italy
10.5 Others
11 Asia Pacific Gallium Nitride Semiconductor Devices Market Analysis
11.1 China
11.2 Japan
11.3 India
11.4 ASEAN
11.5 Australia
11.6 Others
12 Latin America Gallium Nitride Semiconductor Devices Market Analysis
12.1 Brazil
12.2 Argentina
12.3 Mexico
12.4 Others
13 Middle East and Africa Gallium Nitride Semiconductor Devices Market Analysis
13.1 Saudi Arabia
13.2 United Arab Emirates
13.3 Nigeria
13.4 South Africa
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.2 Porter's Five Forces Analysis
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
16 Key Trends and Developments in the Market
For more information about this report visit https://www.researchandmarkets.com/r/731el
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