New York, United States, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The Global Gallium Nitride Semiconductor Device Market Size is to Grow from USD 19.9 Billion in 2022 to USD 35.1 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.8% during the projected period. Some of the major factors driving global market growth are rising consumer and business enterprise adoption of GaN semiconductor devices, rising deployment of GaN semiconductor devices in the energy & power industry, and growing integration of GaN semiconductor devices in the automotive industry.
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GaN semiconductor devices are made of gallium nitride, a compound semiconductor material that outperforms traditional silicon-based counterparts in terms of performance. Because of its ability to provide higher power efficiency, faster switching speeds, and improved thermal management, this market has grown significantly in recent years, making it a key player in a variety of applications. GaN semiconductor devices are widely used in industries such as telecommunications, automotive, aerospace, consumer electronics, and power electronics. GaN-based products, such as GaN transistors, diodes, and integrated circuits, are available in the market for a number of niche applications. Furthermore, continued R&D efforts are boosting GaN technology's potential, pushing innovation in power electronics, RF amplifiers, and optoelectronic devices. The global GaN semiconductor device market is predicted to increase rapidly as sectors increasingly need high-performance solutions with energy-efficient qualities, giving a promising future for both established semiconductor firms and newcomers. Manufacturing GaN semiconductors is a time-consuming and costly process that requires epitaxial growth and specialized equipment. GaN devices might be more expensive than silicon counterparts because to high production costs, limiting their usage in cost-sensitive markets.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Gallium Nitride Semiconductor Device Market Size, Share, and COVID-19 Impact Analysis, By Type (RF, Power, Opto), By Application (Lighting and Lasers, Power Drives), By Vertical (Consumer and Enterprises, Automotive, Telecommunications, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032"
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The RF segment dominated the largest share of the global gallium nitride semiconductor device market in 2022.
The global gallium nitride semiconductor device market is divided into three segments: RF, Power, and Opto. In 2022, the RF segment held the largest share of the global gallium nitride semiconductor device market. The RF segment of the global gallium nitride (GaN) semiconductor device market is a prominent and rapidly growing sector. GaN RF devices are used in a variety of applications, including wireless communication systems, radar systems, and satellite communication. GaN's high-frequency capabilities make it ideal for these applications.
The Lighting and Lasers segment accounted for the significant share of the global gallium nitride semiconductor device market in 2022.
The global gallium nitride semiconductor device market is segmented by application into Lighting and Lasers, Power Drives, and Others. The Lighting and Lasers segment accounted for a sizable portion of the global gallium nitride semiconductor device market in 2022. Because of their superior efficiency and brightness, GaN-based LEDs are at the forefront of lighting technology. They are widely used in a variety of lighting applications, such as general lighting, automotive lighting, display backlighting, and horticultural lighting.
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North America accounted for the largest share of the global gallium nitride semiconductor device market in 2022.
North America is expected to account for a sizable portion of the global gallium nitride semiconductor device market in the coming years. North America, particularly the United States, has dominated the GaN semiconductor device market. The US is a hub for GaN research, development, and manufacturing. The expansion of 5G networks, aerospace and defense applications, and the adoption of electric vehicles have all fueled demand for GaN devices in this region.
During the forecast period, Asia Pacific is projected to expand at the fastest rate in the global gallium nitride semiconductor device market. China dominates the GaN semiconductor device market. It is a significant GaN device manufacturing hub, contributing to global supply. GaN device demand has increased due to the country's rapid 5G deployment, EV production, and consumer electronics manufacturing.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, Major vendors in the Global Gallium Nitride Semiconductor Device Market include Wolfspeed, Inc., Qorvo, Inc., MACOM Technology Solutions Holdings, Inc., Infineon Technologies AG, Sumitomo Electric Industries, Ltd., Mitsubishi Electric Group, NexGen Power Systems., GaN Systems, Efficient Power Conversion Corporation, Odyssey Semiconductor Technologies, Inc., ROHM Co., Ltd., STMicroelectronics N.V., and Others.
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Recent Market Developments
- In June 2023, Qorvo, Inc. has introduced the QPB3810, a GaN-based power amplifier. It has bias control integrated for 5G massive multiple-input multiple-output (mMIMO) applications.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Gallium Nitride Semiconductor Device Market based on the below-mentioned segments:
Global Gallium Nitride Semiconductor Device Market, By Type
- RF
- Power
- Opto
Global Gallium Nitride Semiconductor Device Market, By Application
- Lighting and Lasers
- Power Drives
- Others
Global Gallium Nitride Semiconductor Device Market, By Vertical
- Consumer and Enterprises
- Automotive
- Telecommunications
- Others
Global Gallium Nitride Semiconductor Device Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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