Gallium Nitride Semiconductor Devices Market Rising Demand, Evolving Trends, Future Perspectives, Size, Share And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Gallium Nitride Semiconductor Devices Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $19.81 billion In 2028 At A CAGR Of 17.2% :

The gallium nitride semiconductor devices market size has grown rapidly in recent years. It will grow from $8.82 billion in 2023 to $10.51 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to increased government funding, emerging markets growth, increasing demand for semiconductor equipment, increased usage in automotives, increasing demand for consumer electronics.

The gallium nitride semiconductor devices market size is expected to see rapid growth in the next few years. It will grow to $19.81 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to rising use of gan-based components in defense industry, high proliferation of electric vehicles, increased venture capital funding, rising urbanization and increasing demand for portable electronic devices (ped). Major trends in the forecast period include gan 5g multi-modules, product innovation, technological advancement, application in electric vehicles (evs) and hybrid evs and increasing investment in semiconductor market.

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Gallium Nitride Semiconductor Devices Market Major Segments
The gallium nitride semiconductor devices market covered in this report is segmented -
1) By Component: Transistor, Diode, Rectifier, Power IC
2) By Device Type: Opto-Semiconductors, Power Semiconductors, RF Semiconductors
3) By Application: Automotive, Consumer Electronics, Defense And Aerospace, Healthcare, Industrial And Power, Information And Communication Technology, Other Applications
4) By Wafer Size: 2 Inch, 4 Inch, 6 Inch, 8 Inch

Key Driver - Surging Demand For Consumer Electronics Boosts Gallium Nitride Semiconductor Devices Market Growth

Increasing demand for consumer electronics is expected to propel the growth of the gallium nitride semiconductor devices market. Gallium Nitride is 1,000 times quicker than silicon in terms of mobility. It is less expensive to produce than regular semiconductors, hence it is more widely used in consumer electronics. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, the sales for 2022 witnessed a growth of 12.9% compared to the previous year, when sales surpassed approximately $52.70 billion. Further, the LG Home Appliance & Air Solution Company also recorded another record-breaking year with a revenue of $22.5 billion in 2022, marking a 10.3% increase from the previous year. Therefore, the increasing demand for consumer electronics is driving the growth of the gallium nitride semiconductor devices market.

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Prominent Trend - Innovative Product Launches Drive Expansion And Visibility In The Gan Semiconductor Devices Market

Companies in the GaN semiconductor devices market are developing new products to increase their brand awareness and expand the range of semiconductors. For instance, in June 2022, Wise-integration, a French GaN power supplies, and GaN integrated circuit company, launched its first commercial product, the 120mOhm WI62120 half-bridge power circuit, which provides power electronics designers with new levels of power density, performance, and cost-effective. Moreover, in March 2022, Cambridge GaN Devices, a UK-based semiconductor company that designs and develops GaN-based power devices, launched the ICeGaN 650 V H1 series consisting of four 650 V products that leverage the power of GaN-based technology, which can reduce power losses by up to 50%. The 650 V H1 product series enables the use of standard MOSFET drivers and GaN-based technology in applications running on silicon-based devices.

Gallium Nitride Semiconductor Devices Market Players
Major companies operating in the gallium nitride semiconductor devices market report are Texas Instruments Incorporated, Toshiba Corporation, Infineon Technologies AG, Fujitsu Limited, NXP Semiconductors N.V. ams-OSRAM AG, Wolfspeed Inc, Qorvo Inc., Panasonic Holdings Corporation, NTT Advanced Technology Corporation, Enkris Semiconductor Inc, Sanan Integrated Circuit, Navitas Semiconductor, Cypress Semiconductor Corp, ARM LTD, Renesas Electronics Corporation, Saankhya Labs, ASM Technologies, CDIL, Hyundai Electric, STMicroelectronics, Exagan, GaN Systems, UnitySC, Dialog Semiconductor Plc, Cree Inc., Efficient Power Conversion Corporation

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Largest And Fastest Growing Region In The Market
North America was the largest region in the gallium nitride semiconductor device market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gallium nitride semiconductor devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Gallium Nitride Semiconductor Devices Market Report Structure
3. Gallium Nitride Semiconductor Devices Market Trends And Strategies
4. Gallium Nitride Semiconductor Devices Market - Macro Economic Scenario
5. Gallium Nitride Semiconductor Devices Market Size And Growth
…..
27. Gallium Nitride Semiconductor Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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