Gallium Nitride (GaN) Power ICs Market Size, Revenue Share, Insights & Future Outlook

Gallium Nitride (GaN) Power ICs Market Size

The global market for semiconductor was estimated at US$ 579 billion in the year 2022, is projected to US$ 790 billion by 2029, growing at a CAGR of 6% during the forecast period.

The global market for Gallium Nitride (GaN) Power ICs was valued at US$ million in the year 2024 and is projected to reach a revised size of US$ million by 2031, growing at a CAGR of %during the forecast period.

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Although some major categories are still double-digit year-over-year growth in 2022, led by Analog with 20.76%, Sensor with 16.31%, and Logic with 14.46% growth, Memory declined with 12.64% year over year. The microprocessor (MPU) and microcontroller (MCU) segments will experience stagnant growth due to weak shipments and investment in notebooks, computers, and standard desktops. In the current market scenario, the growing popularity of IoT-based electronics is stimulating the need for powerful processors and controllers. Hybrid MPUs and MCUs provide real-time embedded processing and control for the topmost IoT-based applications, resulting in significant market growth. The Analog IC segment is expected to grow gradually, while demand from the networking and communications industries is limited. Few of the emerging trends in the growing demand for Analog integrated circuits include signal conversion, automotive-specific Analog applications, and power management. They drive the growing demand for discrete power devices.

By Type
• Depletion Mode
• Enhancement Mode

By Application
• Data Center Power
• Smart Phone and Laptop Adapters
• On-board Chargers For Electric Vehicles
• Solar Inverters

By Company
Texas Instruments, STMicroelectronics, Efficient Power Conversion Corporation (EPC), Navitas Semiconductor, Infineon Technologies, Renesas, GaN Systems, Power Integrations, Innoscience, Transphorm

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This release was published on openPR.