Sales Revenue of Gallium Nitride Semiconductor Devices Market To Soar In Near Future Owing To Growing Consumer Adoption : Fact.MR

A recent study by Fact.MR expects the global gallium nitride semiconductor devices market to accrue significant gains, flourishing at a CAGR of 23% from 2022 to 2032, reaching nearly US$ 12 Bn by the end of the aforementioned forecast period. Extensive applications across key end uses, including manufacturing of fast chargers, will drive market growth.

During the historical period from 2015 to 2021, gallium nitride semiconductor device sales surged at a CAGR of 18%. During the height of the COVID-19 pandemic, growth prospects appeared sluggish, as factory shutdowns led to contractions in the demand-supply dynamics. However, growth projections have been recovering since the past year, with the easing of restrictions.

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Companies providing GaN Radio Frequency (RF) are continuously improving their product offerings, thereby driving the market. The enhanced-mode version of GaN is widely used in the development of space applications and this is further driving the market. Demand for commercial GaN power devices is high among businesses as these devices offer high performance compared to traditional silicon technology-based Rad Hard devices. GaN power devices are used in applications such as drones, satellites, spacecraft, and robotics.

Key Market Segments in Gallium Nitride Semiconductor Devices Industry Research.

By Product
GaN Radio Frequency Devices
Gallium Nitride Opto-semiconductor Devices
Gallium Nitride Power Semiconductor Devices

By Component
Gallium Nitride Semiconductor Transistor
Gallium Nitride Semiconductor Diode
Gallium Nitride Semiconductor Rectifier
Gallium Nitride Semiconductor Power IC
Other Gallium Nitride Semiconductor Components

By Wafer Size
2-inch Gallium Nitride Semiconductor Devices
4-inch Gallium Nitride Semiconductor Devices
6-inch Gallium Nitride Semiconductor Devices
8-inch Gallium Nitride Semiconductor Devices

By End Use
Gallium Nitride Semiconductor Devices for Automotive
Gallium Nitride Semiconductor Devices for Consumer Electronics
Gallium Nitride Semiconductor Devices for Defense & Aerospace
Gallium Nitride Semiconductor Devices for Healthcare
Gallium Nitride Semiconductor Devices for Industrial & Power
Gallium Nitride Semiconductor Devices for Information & Communication Technology
Gallium Nitride Semiconductor Devices for Other End Uses

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Competitive Landscape

The competitive landscape of the gallium nitride semiconductor devices market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.

In February 2021, Efficient Power Conversion Corporation launched EPC9157, which integrated Renesas ISL 81806 with EPC2218 eGAN to achieve more than 90% efficiency. Renesas ISL 81806 used the high performance of GaN to enable high-power solutions and reduce BOM cost, additionally making the design simple and similar to using silicon-built FETs.

Key Takeaways from the Market Study

Global gallium nitride semiconductor device sales to be valued at US$ 1.23 Bn in 2022

By product, opto-semiconductors to accumulate a revenue share exceeding 35%
Over 1/3rd of overall market demand to be stimulated by GaN semiconductor transistors

Demand for 4-inch gallium nitride semiconductor devices to reign supreme, capturing 35% revenue

20% of gallium nitride semiconductor device sales to be across the ICT industry

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In-depth Analysis on Competition

The report sheds light on leading manufacturers of gallium nitride semiconductor devices, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering gallium nitride semiconductor devices has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the gallium nitride semiconductor devices domain.

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