Gallium Nitride Semiconductor Devices Market Size 2022 Industry Insights by Global Share, Top Key Players, COVID-19 Impact, Regional Analysis and Forecasts to 2030
The gallium nitride semiconductor devices market size is expected to reach USD 7.78 billion by 2029 according to a new study by Polaris Market Research.
The emergence of RF power electronics and LEDs across various applications has created a sheer interest in gallium nitride (GaN) semiconductor devices worldwide. Although conventional silicon technology is still the mainstay of electronics, GaN has gradually replaced it with its superior properties and high efficiency. GaN technology can operate a larger electronic field in a very compact space than conventional silicon while delivering faster switching of frequencies.
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The automotive industry is experiencing robust growth in the market with growing interest in gallium nitride on account of increasing adoption of LED and laser lights, the emergence of head-up displays, increasing prevalence of semi-autonomous as well as autonomous vehicles in the industry, and growing share of LiDAR (Light Detection and Ranging) technology. The rising penetration of sensors and electronic components is further elevating the demand.
The U.S. has a strong focus on improvising its electronic defense technologies to maintain its undisputed leadership in the industry. In September 2021, The US Department of Defense (DOD) has awarded Intel a contract for Rapid Assurance Microelectronics Prototypes Program (RAMP-C) to facilitate the wafer foundry ecosystem in the country.
Market participants such as Cree, Inc., Efficient Power, Fujitsu Ltd., GaN Systems Inc., MACOM Technology, Qorvo Inc., Infineon Technologies AG, Nexgen Power Systems, NXP Semiconductor, Texas Instruments; Toshiba Corporation, Analog Devices, Sumitomo Electric, and ST Micro Electronics are some of the key players competing in the global market.
The growing need for more powerful and efficient electronic devices has led to various innovations and R&D efforts in the market. Recently in September 2020, Navitas, an industry-leading GaN power integrated circuit supplier in a VIP investor meeting, introduced GaNFast power ICs, which run up to 20 times faster than silicon and enable three times more power in reduced size and weight.
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Polaris Market Research has segmented the gallium nitride semiconductor devices market report on the basis of product, component, wafer size, end-use, and region:
Gallium Nitride Semiconductor Devices, Product Outlook (Revenue – USD Million, 2017 – 2029)
- GaN Radio Frequency Devices
- Power Semiconductors
Gallium Nitride Semiconductor Devices, Component Outlook (Revenue – USD Million, 2017 – 2029)
- Power IC
Gallium Nitride Semiconductor Devices, Wafer Size Outlook (Revenue – USD Million, 2017 – 2029)
Gallium Nitride Semiconductor Devices, End-Use Outlook (Revenue – USD Million, 2017 – 2029)
- Aerospace & Defense
- Consumer Electronics
- Information & Communication Technology
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