Pune, April 12, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, "The Gan Semiconductor Devices Market attained a valuation of USD 2.17 billion in 2022 and is anticipated to grow at a CAGR of 22.1% from 2023 to 2030, ultimately reaching a value of USD 10.73 billion in 2030".
GaN (Gallium Nitride) semiconductor devices are electronic components that are based on the Gallium Nitride material. They are widely used in various applications such as power electronics, radio frequency (RF) amplifiers, and lighting due to their superior performance compared to traditional silicon-based devices. GaN devices offer several advantages over silicon-based devices, such as higher power density, faster switching speed, and higher efficiency. These characteristics make them ideal for power electronics applications, where they can be used to reduce power consumption, increase power density, and improve overall system efficiency.
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Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 2.17 Billion |
| Market Size by 2030 | US$ 10.73 Billion |
| CAGR | CAGR of 22.1% From 2023 to 2030 |
| Key Segments | • by type (Depletion Mode, Cascode Mode, GaN Radio Frequency Devices, Opto-Semiconductors, Power Semiconductors, RF Semiconductors) • by wafer size ( 2”, 4”, 6”, 8”) • by component (Transistor, Diode, Rectifier, Power IC, Others) • by application(Signal, Power, Communications, Consumer Electronics, Automotive, Military & Defense, Medical,Lighting and Lasers Supplies and Inverters, Radio Frequency, Power Drives, Others) |
| Company Profiles | Osram Opto-semiconductors, Panasonic Semiconductors, Texas Instruments, RF Micro Devices Corporation, Cree Incorporated, Toshiba, Aixtron SE, Infineon Technologies, Gallia Semiconductor, ROHM Company Limited |
| Market Drivers | • GaN as a complete alternative to silicon in the use of medium power |
Market Analysis
The GaN semiconductor devices market is primarily driven by factors such as the increasing demand for power electronics in various industries, such as automotive, aerospace, defense, and consumer electronics. GaN devices offer several advantages over traditional silicon-based devices, such as higher power density, higher efficiency, and faster switching speed, making them ideal for power electronics applications. Additionally, the growing adoption of renewable energy sources and the increasing focus on energy efficiency have also contributed to the growth of the market. The rising demand for wireless charging devices and electric vehicles is expected to further drive the market growth.
Impact of Recession
The recession has impacted the GaN semiconductor devices market, resulting in a decline in demand and growth. However, the market is expected to recover gradually in the coming years with the increasing adoption of renewable energy sources and the growing demand for electric vehicles, leading to the increasing demand for GaN semiconductor devices.
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Key Regional Development
The GaN semiconductor devices market in North America is experiencing a significant boost due to the increasing investments by the defense and aerospace industry in research and development activities. This is driving the growth of the market in the region, making it the dominant market globally. One of the key factors behind this growth is the substantial funding provided by government bodies to semiconductor companies in the region. This funding has allowed these companies to undertake extensive research and development activities, resulting in the creation of innovative GaN semiconductor devices that are highly in demand in various industries.
Key Takeaway from GaN Semiconductor Devices Market Study
- The depletion mode operating mode segment of GaN semiconductor devices is poised to play a significant role in the growth and development of the market. The unique characteristics and advantages of depletion mode GaN devices make them highly attractive for a range of applications, and their increasing cost-effectiveness is expected to further boost their demand in the market.
- GaN transistor segment is poised to capture a significant share in the market due to their superior performance characteristics and increasing cost-effectiveness. The increasing demand for energy-efficient electronics and the adoption of EVs are expected to further boost the demand for GaN transistors in various applications.
Recent Developments Related to GaN Semiconductor Devices Market
- Cambridge GaN Devices, a UK-based semiconductor company, has recently raised £16 million in funding to support the development and production of fabless semiconductors. The funding was led by investment firm, IQ Capital, and included participation from several other investors.
- Transphorm, a leading global supplier of gallium nitride (GaN) power conversion products, has expanded its presence in China by opening a new GaN Application Lab. The lab is located in Shanghai and will focus on developing and testing new GaN-based power electronics applications for a variety of industries.
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Table Of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8.Global GaN Semiconductor Devices Market Segmentation, By Type
9.Global GaN Semiconductor Devices Market Segmentation, By Wafer Size
10.Global GaN Semiconductor Devices Market Segmentation, By Componant
11.Global GaN Semiconductor Devices Market Segmentation, By Application
12. Regional Analysis
13.Company Profiles
14. Competitive Landscape
15. Conclusion
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