Gallium nitride (GaN) is a material that can handle high levels of heat, power, and frequency better than conventional semiconductors like silicon or gallium arsenide. GaN semiconductors are increasingly being used in wireless communication devices, radar and satellite communication systems due to their ability to operate at high frequencies, temperatures, and voltages. They provide high efficiency and enhance the performance of electronic devices. GaN power semiconductors are also being used in power supplies, energy storage systems, electric vehicles and consumer electronics due to their high breakdown voltage which allows more compact power conversion equipment. The global GaN Semiconductor Market is estimated to be valued at US$ 3 Billion in 2024 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased demand for wireless communication devices has accelerated the demand for GaN semiconductors over the forecast period. GaN semiconductor devices are used to enhance the performance of wireless infrastructure including 5G networks by enabling higher bandwidth and larger connectivity. 5G networks require power amplifiers and radio frequency integrated circuits operating at millimeter-wave frequencies, an area where GaN excels compared to other materials. GaN devices can support network densification with more base stations and transmitters due to their improved efficiency. This has propelled the growth of the GaN semiconductor market.
Segment Analysis
The global GaN semiconductor market is segmented into devices and services. The devices segment dominates the market currently due to wide usage of GaN devices in RF power, power supply and conversion, lighting and display, EV charging infrastructure and other applications. LED lighting and RF power device sub-segments hold the major market share under the devices segment. LED lighting sub-segment dominates owing to high adoption of LED lighting across residential, commercial and industrial sectors.
Key Takeaways
The global GaN semiconductor market analysis is expected to witness high growth during the forecast period of 2024 to 2031. With increasing demand for energy efficient and high-speed charging solutions, the market is poised to grow substantially.
Regional analysis:
The Asia Pacific region holds the largest market currently due to high demand for power applications and consumer electronics from China, Japan, South Korea and other developing countries. The region is expected to continue its dominance in the forthcoming years supported by technological advancements in end-use industries and strong government support.
Key players
operating in the GaN Semiconductor market are Cree, Infineon, Qorvo, Macom, Microsemi, Mitsubishi Electric, Efficient Power Conversion (EPC), GaN Systems, Nichia, Epigan, Samsung, Analog Devices, Panasonic, Texas Instruments, Ampleon. Among these, Cree, EPC, Qorvo and GaN Systems are spearheading the growth and enabling mass adoption of GaN semiconductors across industries with their innovative product portfolio and dedicated focus on GaN technology development.
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