Gallium Nitride Semiconductor Devices Market: Growth, Trends, and Technological Advancements and Dynamic Demand by Forecast 2024 to 2033

The new report published by The Business Research Company, titled Gallium Nitride Semiconductor Devices Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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

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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

Contents of the report:
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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