Gallium Nitride Semiconductor Devices Market Growth & Trends
The global gallium nitride semiconductor devices market size is expected to reach USD 12.47 billion by 2030, according to a new study conducted by Grand View Research, Inc. It is expected to expand at a CAGR of 25.4% from 2023 to 2030. The growing demand for fast chargers used in various consumer electronics applications worldwide is expected to drive the market. Various smartphone companies such as Apple and Samsung are making efforts to develop fast chargers to enhance their customer experience and gain a competitive edge.
The companies providing GaN Radio Frequency (RF) are continuously improving their product offerings, thereby driving the market. For instance, in December 2021, Microchip Technology Inc., a microcontroller manufacturer, announced the expansion of its GaN RF power device portfolio with new discrete transistors and MMICs. The devices combine high linearity and high power-added efficiency to deliver enhanced performance in satellite communications, electronic warfare, test equipment, and commercial and defense radar systems.
The enhanced-mode version of GaN is widely used in the development of space applications and this is further driving the market. The demand for commercial GaN power devices is high among businesses as these devices offer high performance compared to traditional silicon technology-based Rad Hard devices. GaN power devices are used in applications such as drones, satellites, spacecraft, and robotics.
The COVID-19 pandemic adversely affected the GaN semiconductor devices market in 2020 & 2021. This can be attributed to the semiconductor shortage witnessed by various automotive companies. Automakers such as Ford and General Motors reduced the production of some of their models in 2021 due to the shortage of semiconductor chips.
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Gallium Nitride Semiconductor Devices Market Report
Gallium Nitride Semiconductor Devices Market Report Highlights
- The GaN radio frequency devices product segment is anticipated to expand at the highest CAGR over the forecast period. The segment growth can be attributed to the growing demand for these products from the military for applications such as Electronic Warfare (EW) systems and Active Electronically Steered Array (AESA) radars
- The automotive end-use segment is expected to witness significant growth over the forecast period. The growing popularity of autonomous vehicles is boosting the demand for LiDAR sensors in driverless navigation systems, in turn, fueling the segment growth
- The Asia Pacific regional market is expected to emerge as the fastest-growing market over the forecast period owing to the surge in the demand for efficient and high-performance RF components and the surge in electric vehicle production in countries such as China, Japan, and South Korea
- The rectifier component segment is anticipated to expand at the highest CAGR over the forecast period. The increasing use of rectifiers across automotive electric, consumer electric, household appliances, and other industries is expected to drive the segment over the forecast period
- The 6-inch wafer size segment is anticipated to expand at the highest CAGR over the forecast period. The increasing demand for 6-inch wafers for electric vehicles is expected to drive the segment
