Global Gallium Nitride Semiconductor Devices Market Size To Exceed USD 26.44 Billion By 2033 | CAGR of 26.5%
Category: Semiconductors & ElectronicsGlobal Gallium Nitride Semiconductor Devices Market Size To Exceed USD 26.44 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Gallium Nitride Semiconductor Devices Market Size Expected to Grow from USD 2.52 Billion in 2023 to USD 26.44 Billion by 2033, at a CAGR of 26.5% during the forecast period 2023-2033.
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Browse key industry insights spread across 256 pages with 103 Market data tables and figures & charts from the report on the "Global Gallium Nitride Semiconductor Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (GaN Radio Frequency Devices, Opto-semiconductors, and Power Semiconductors), By Component (Power IC, Transistor, Rectifier, Diode, and Others), By Wafer Size (2-inch, 4-inch, 6-inch, and 8-inch), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." https://www.sphericalinsights.com/reports/gallium-nitride-semiconductor-devices-market
The gallium nitride semiconductor devices market is the global industry for manufacturing, distributing, and marketing electronic parts using gallium nitride semiconductor technology. GaN devices are capable of working in higher voltages, temperatures, and frequencies and hence are ideal for use in numerous industries and applications. The demand for GaN semiconductor devices is fueled by the rising demand for high-performance and energy-efficient electronic devices, the demand for sophisticated power management solutions, and the increased use of GaN technology across industries. The demand for the market is also driven by the superior thermal conductivity, high-breakdown voltage, and dynamic electrical characteristics, ideal switching frequency of gallium nitride. The power electronics advancement has led to a high demand for efficient electronic devices, thus driving the use of gallium nitride devices. There is also an increasing focus on energy loss reduction and improved performance with reduced power consumption, leading to high market potential for gallium nitride semiconductor devices. Moreover, the high cost of GaN semiconductor devices has a major influence on their widespread adoption.
The opto-semiconductors segment accounted for the largest share in 2023 and is projected to grow at a substantial CAGR during the forecast period.
On the basis of product, the global gallium nitride semiconductor devices market is divided into GaN radio frequency devices, opto-semiconductors, and power semiconductors. Among these, the opto-semiconductors segment accounted for the largest share in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth in the segment is because opto-semiconductors are employed in devices such as LEDs, solar cells, photodiodes, lasers, and optoelectronics, which may be primarily responsible for this. Opto-semiconductors are increasingly being applied in the automotive sector for pulse-powered lasers, indoor and outdoor lighting, and automobile lights.
The power IC segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of component, the global gallium nitride semiconductor devices market is divided into power IC, transistor, rectifier, diode, and others. Among these, the power IC segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is fueled as a result of the increasing use of GaN-based power ICs, which offer capabilities such as efficient navigation, collision avoidance, and real-time air traffic control.
The 4-inch segment accounted for the largest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
On the basis of wafer size, the global gallium nitride semiconductor devices market is divided into 2-inch, 4-inch, 6-inch, and 8-inch. Among these, the 4-inch segment accounted for the largest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segment growth is driven because 4-inch wafers facilitate the manufacturing of semiconductor devices on a large scale. The application of 4-inch wafers is growing rapidly because they support 2-inch wafers to cross their limitations and are extensively used in industries that depend on semiconductor products.
North America is anticipated to hold the largest share of the global gallium nitride semiconductor devices market during the forecast period.
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North America is anticipated to hold the largest share of the global gallium nitride semiconductor devices market during the forecast period. The regional growth is fueled due to the huge investments in gallium nitride semiconductor technologies and the large-scale adoption of advanced electronics in various industry verticals in the region. Moreover, the government in North America is also actively encouraging the reduction of energy losses and the use of energy-efficient devices in the market. These efforts complement further the development and market share expansion of gallium nitride semiconductor devices within the region, consolidating North America's leading role in the world market.
Asia Pacific is expected to grow at the fastest CAGR in the global gallium nitride semiconductor devices market during the forecast period. Regional expansion is due to the increasing pace of technological innovation and the corresponding need for cost-effective and high-performance RF devices. Among some of the largest consumer electronics producers in the region, such as LED display equipment, cellphones, and video game consoles, are countries such as China and Japan. This is a strong momentum for the growth of the regional market.
Major vendors in the global gallium nitride semiconductor devices market are Efficient Power Conversion Corporation, Fujitsu Ltd., Infineon Technologies AG, Transphorm, Inc., NXP Semiconductors., Texas Instruments Incorporated., Qorvo, Inc, Toshiba Corporation, GaN Systems, NTT Advanced Technology Corporation., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In January 2024, Transphorm Inc. launched the two new 650V SuperGaN devices packaged in a 4-lead TO-247 package (TO-247-4L). These new FETs, named TP65H035G4YS and TP65H050G4YS, boast on-resistances of 35mΩ and 50mΩ respectively, featuring a Kelvin-source terminal that enables customers to achieve versatile switching capabilities with reduced energy losses.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global gallium nitride semiconductor devices market based on the below-mentioned segments:
Global Gallium Nitride Semiconductor Devices Market, By Product
- GaN Radio Frequency Devices
- Opto-semiconductors
- Power Semiconductors
Global Gallium Nitride Semiconductor Devices Market, By Component
- Power IC
- Transistor
- Rectifier
- Diode
- Others
Global Gallium Nitride Semiconductor Devices Market, By Wafer Size
- 2-inch
- 4-inch
- 6-inch
- 8-inch
Global Gallium Nitride Semiconductor Devices Market, Regional
- 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 the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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