GaN Semiconductor Devices Market Size Report 2023 to 2030

GaN Semiconductor Devices Market Scope and Growth Factors -

The SNS Insider report indicates that the GaN Semiconductor Devices Market was valued at USD 2.17 billion in 2022, and it is projected to achieve a market size of USD 10.73 Billion by 2030, with a compound annual growth rate (CAGR) of 22.1% expected over the forecast period from 2023 to 2030.

Wide bandgap, extremely hard, mechanically stable semiconductors are made of gallium nitride (GaN). GaN-based power devices perform better than silicon-based ones in terms of thermal conductivity, breakdown strength, and switching speed as well as resistance. GaN is employed in the fabrication of RF components and semiconductor power devices. GaN has shown to be a successful substitute technology for silicon semiconductors in analog, RF, and power conversion applications.

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Key Players Covered in GaN Semiconductor Devices market report are:

Osram Opto-semiconductors, Panasonic Semiconductors, Texas Instruments, RF Micro Devices Corporation, Cree Incorporated, Toshiba, Aixtron SE, Infineon Technologies, Gallia Semiconductor, ROHM Company Limited, Fujitsu Ltd, NXP Semiconductors, Koninklijke Philips N.V., Nichia Corporation, Qorvo, and Others.

One of the main factors driving the growth of the market for GaN semiconductor devices applications and the rise in their use in the consumer electronics and automotive industries is the broadband gap quality of the GaN, which makes it useful in new semiconductor devices. Moreover, its growing application in radio frequency power applications has demonstrated a positive impact on market growth. Its operation may be hampered by the fact that its use in CATV and other applications with frequencies below 3.5GHz is not cost-effective.

Segmentation Analysis -

In 2022, the 4-inch segment held a dominant position in the market, contributing over 38.0% of global revenue. Since 4-inch wafers are widely used in industries that rely on semiconductor products and help overcome the drawbacks of 2-inch wafers, their implementation is growing quickly. The market is also being driven by the growing need for 4-inch-wafer gallium nitride devices in telecom frontends, optoelectronics, high-power amplifiers, and high-temperature devices. Furthermore, it is expected that a major factor driving the segment growth will be the suitability of a 4-inch substrate for space communication applications due to its radiation-hardened properties. More than 36.0% of global revenue in 2022 came from the transistor segment, which dominated the market. The demand for high-power transistors for base stations used in the telecommunications industry has increased recently due to the growing adoption of GaN-based power transistors and 4G technology-enabled devices.

GaN Semiconductor Devices Market Segmentation as Follows:

BY TYPE
Depletion Mode
Cascode Mode
GaN Radio Frequency Devices
Opto-Semiconductors
Power Semiconductors
RF Semiconductors

BY WAFER SIZE
2"
4"
6"
8"

BY COMPONENTS
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
Other

Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other

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Key Regional Development -

With more than 33.0% of worldwide revenue, the North American regional market dominated the industry in 2022. Additionally, it is anticipated that government funding for semiconductor companies will propel the regional market. For example, in June 2020, a bill to support semiconductor manufacturers with over USD 22.8 billion was introduced by U.S. lawmakers.

Key Takeaway from Power Electronics Market -

A steady growth in the power IC segment is expected. The growing use of GaN-based power integrated circuits (ICs), which provide functions like effective navigation, collision avoidance, and real-time air traffic control, is responsible for the segment's growth.

Recent Developments Related to Power Electronics Market-

- In April 2022, TMK declared at the National Oil and Gas Forum in Moscow that its R&D facility's operational reliability and corrosion protection were the main reasons for introducing new steel grades for underground carbon dioxide injection pipes.

- TMK announced the acquisition of Chelpipe in April 2022. The assets involved in the operation of Chelpipe's trunk pipeline systems, including units for
collection and processing, production, distribution, and servicing, are all part of this acquisition.

Table of Content - Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. GaN Semiconductor Devices Market Segmentation, By Type
9. GaN Semiconductor Devices Market Segmentation, By wafer size
10. GaN Semiconductor Devices Market Segmentation, By component
11. GaN Semiconductor Devices Market Segmentation, By application
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

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This release was published on openPR.