The gallium nitride semiconductor device market is estimated to reach US $ 1,448.9 million by 2030 from a market value of US $ 1,064.7 million in 2022 and is expected to grow at a CAGR of 4.5% during the 2022-2030 forecast period. It has been.
Gallium nitride (GaN) is a direct bandgap semiconductor material that has been frequently used in LEDs since the 1990s. This material is also used in the manufacture of semiconductor power devices, RF devices and systems. GaN has proven to be a displacement technology for silicon semiconductors in radio frequency (RF), power conversion, and analog applications. In addition, it has a wide bandgap of 3.4 electron volts (eV), providing unique characteristics for applications in optoelectronics, radio frequency, and high power devices. GaN-based semiconductors have dynamic chemical and electrical retention such as high saturation rates and voltage breakdowns, making them suitable for use in a variety of switching devices such as transistors.
Increasing adoption of GaN in electric and hybrid vehicles and increasing applications in consumer electronics are key drivers of the growth of the gallium nitride semiconductor device market during the forecast period. According to a 2018 International Energy Agency (IEA) survey, more than 1 million electric vehicles were sold in 2017, accounting for more than half of global sales in China. The IEA also estimated that the total number of electric vehicles sold worldwide in 2019 exceeded 2.1 million. Also, in 2019, China will be the world’s most advanced market for absolute sales of electric vehicles, with 2.3 million electric vehicles in active use. This is expected to enhance the growth of the gallium nitride semiconductor device market worldwide.
However, high materials and production costs, and fierce competition for alternatives, could curb the growth of the gallium nitride semiconductor device market during the 2022-2030 forecast period.
Gallium Nitride Semiconductor Device Market Segment
The gallium nitride semiconductor device market is by product (GaN wireless frequency devices, optical semiconductors, power semiconductors), wafer size (2 inches, 4 inches, 6 inches, 8 inches), and applications (automobiles, household appliances, defense). • Divided by aerospace, healthcare, industry and power, etc.), and by region. These segments are further subsegmented based on a variety of factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.
Regional overview of gallium nitride semiconductor device market
North America is the world’s leading region in terms of market share. This is due to increased investment in aerospace and defense applications and the large number of market vendors in the region. Meanwhile, the Asia Pacific gallium nitride semiconductor device market is expected to witness the highest growth rates during the 2022-2030 forecast period. Factors such as increased smart grid projects and increased industrialization rates in developing countries such as China and India create favorable growth opportunities for the gallium nitride semiconductor device market in the Asia-Pacific region.
These regional segments are North America (US and Canada); Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Singapore, Other Asia Pacific); Latin America (Brazil, Mexico, Argentina, etc.) Latin America); Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa) and Europe (UK, Germany, France, Italy) , Spain, Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe) and more.
A major key player in the gallium nitride semiconductor device market
Key players in the gallium nitride semiconductor device market include NexGen Power Systems, Inc., Cree, Inc., Efficient Power Conversion Corporation, Inc., GaN Systems, Inc., Toshiba Corporation, Fujitsu Ltd., NXP Semiconductor NV, Texas Instruments Incorporated, Infineon Technologies AG, Qorvo, Inc. and more. The study includes in-depth competitive analysis, corporate profiles, recent developments, and key market strategies for these leading companies in the gallium nitride semiconductor device market.