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Gallium Nitride Semiconductor Devices Market Size to Surpass US$ 11.99 billion by 2032, at 23% CAGR

10-11-2023 09:56 PM CET | Logistics & Transport

Press release from: Fact MR

Gallium Nitride Semiconductor Devices Market Size to Surpass

The gallium nitride semiconductor devices market has a market value of US$ 1.23 billion in 2022 and is expected to grow at a CAGR of 23% between 2022 and 2032, reaching a value of US$ 11.99 billion.

In the fast-evolving world of semiconductor technology, Gallium Nitride (GaN) has emerged as a game-changer. GaN semiconductor devices offer numerous advantages over traditional silicon-based devices, such as higher efficiency, faster switching speeds, and smaller form factors. This article provides valuable insights into the Gallium Nitride Semiconductor Devices Market, shedding light on the various dynamics that are shaping its current landscape.

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Gallium Nitride Semiconductor Devices Market Growth

The Gallium Nitride Semiconductor Devices Market has experienced remarkable growth in recent years, and this growth is expected to continue its upward trajectory. GaN technology's ability to deliver higher power density and improved efficiency has made it a preferred choice for various applications, including 5G infrastructure, electric vehicles, and power supplies. With the increasing demand for these applications, GaN semiconductor devices have become pivotal.

The demand for Gallium Nitride (GaN) technology in energy-efficient 5G multi-chip modules is on the rise for mobile networks. Leading semiconductor companies are actively incorporating GaN into these modules to enhance efficiency. An example is NXP Semiconductors, which integrated GaN into its multi-chip module in June 2021, achieving improved efficiency compared to their previous versions. Furthermore, the global increase in robot shipments is set to drive the GaN market, as it's utilized in servo drives for motion control and robotics. The International Federation of Robotics forecasts a rise in annual robotic unit sales, driven by automation needs and technological advancements.

Gallium Nitride Semiconductor Devices Market Opportunities

The Gallium Nitride Semiconductor Devices Market offers a multitude of opportunities for companies in the semiconductor and electronics industries. GaN's unique properties, such as high electron mobility, allow for the development of smaller and more efficient devices, which can significantly impact a variety of sectors. As the world transitions towards electric vehicles and renewable energy sources, GaN's role in power electronics is becoming increasingly vital.

Furthermore, the aerospace and defense sector presents exciting opportunities for GaN semiconductor devices. These devices offer ruggedness and high performance, making them suitable for radar systems, communication equipment, and electronic warfare applications. With increasing military expenditures worldwide, the demand for GaN-based solutions in this sector is poised for growth.

Key Companies Profiled In This Report

Cree Inc.
Efficient Power Conversion Corporation
FUJITSU
GaN Systems
NexgenPowerSystems
NXP Semiconductor
Qorvo Inc.
Texas Instruments Incorporated
Toshiba Corporation

The United States holds a 30% revenue share in the market, primarily driven by increased R&D investments from the defense and aerospace sectors. Government funding initiatives, such as a 2020 bill allocating over $22.8 billion for semiconductor manufacturers, aim to boost domestic chip factory construction, further propelling the market in the region.

Gallium Nitride Semiconductor Devices Market Demand

The increasing global adoption of electric vehicles is poised to boost the market for Gallium Nitride (GaN) technology. GaN facilitates faster vehicle charging, cost efficiency, increased power density, and extended driving range. Companies like GaN Systems have partnered with industry leaders to develop GaN power modules for electric vehicles. Moreover, venture capital funding has played a pivotal role in supporting GaN semiconductor device manufacturers, with companies like GaN Systems and Cambridge GaN Devices raising substantial funds to drive innovation and expansion across various markets, including consumer, automotive, industrial, and enterprise sectors.

Gallium Nitride Semiconductor Devices Market Notable Developments

The Gallium Nitride Semiconductor Devices Market has seen several noteworthy developments in recent years. One of the most significant advancements is the integration of GaN technology in wireless power transfer systems, enabling more efficient and convenient charging for electric vehicles and consumer electronics. Additionally, there has been a surge in the development of GaN-based power amplifiers for next-generation wireless communication systems.

Another notable development is the increasing collaboration between semiconductor manufacturers and tech companies. Partnerships have formed to create GaN-based solutions tailored to specific applications, enhancing product performance and reliability.

Gallium Nitride Semiconductor Devices Market Value Chain

The Gallium Nitride Semiconductor Devices Market's value chain encompasses various stakeholders, including GaN wafer manufacturers, semiconductor device manufacturers, system integrators, and end-users. This complex value chain has evolved to ensure a seamless supply of GaN devices to meet the growing demand.

The Gallium Nitride Semiconductor Devices Market is witnessing substantial growth, driven by the demand for high-performance and efficient semiconductor solutions across multiple industries. As GaN technology continues to mature, the opportunities for innovation and development throughout the value chain are abundant, promising a future of more advanced and reliable electronics and power systems.

Competitive Landscape

The competitive landscape in the gallium nitride semiconductor devices market is shaped by a focus on product innovation and strategic mergers and acquisitions. Industry leaders are prioritizing capacity enhancements and expanding their global presence to tap into opportunities in emerging economies. For instance, in February 2021, Efficient Power Conversion Corporation launched the EPC9157, a product that combined Renesas ISL 81806 with EPC2218 eGAN, achieving remarkable efficiency exceeding 90%. Renesas ISL 81806 harnessed the high-performance capabilities of GaN to enable high-power solutions while reducing Bill of Materials (BOM) costs and simplifying the design process, resembling the use of silicon-based FETs.

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About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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