The market is expected to cross US$ 18.41 billion in 2022 and is projected to hit US$ 28.42 billion by 2030, recording a CAGR of 5.0% during the forecast period.
The suitability of GaN in RF applications will drive market growth over the forecast period.
The high demand from the RF semiconductor device industry is a key factor driving the GaN semiconductor device market. Additionally, the RF sector is closely related to the communications sector and requires electronic devices to operate at various communication frequency ranges based on the application. Furthermore, due to their ability to deliver high power amplification at very high-frequency ranges, GaN semiconductor devices penetrated the RF power semiconductor device market. Moreover, the development of GaN monolithic microwave integrated circuits (MMICs) has further accelerated the adoption of GaN RF applications.
Within the report, the market is segmented into wafer size, device type, end user, and geography. By wafer size, the market is segmented into 2 Inch, 4 Inch, and 6-Inch and Above. Based on device type, the market is segmented into GaN Radio Frequency Devices, Opto-semiconductors, and Power Semiconductors. Based on end user, the market is segmented into Automotive, Consumer Electronics, Healthcare, Aerospace & Defense, Information & Communication Technology, and Industrial. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, and rest of the world.
The increasing shipments of robots globally are another factor driving the market growth.
The rising shipments of robots globally are expected to drive market growth over the forecast period. Additionally, GaN is used for servo drives for motion control and robotics. According to the statistics provided by the International Federation of Robotics, there is a rise in yearly robotic unit sales from 465 thousand units in 2020 to 584 thousand units in 2022. Moreover, the rising requirement for automation in the manufacturing process and technological advancements are expected to drive the sales of robot units over the forecast period, thereby contributing to the market's growth.
Applications in electric and hybrid electric vehicles will create ample growth opportunities for market growth.
The development of electric and hybrid electric vehicles provides lucrative growth opportunities for the GaN semiconductor device market. Additionally, the GaN power semiconductor devices and Opto-semiconductor devices have vast growth potentials in the power and optoelectronic systems used in this application segment, aided by the rapid growth of the EV and HEVs market. Furthermore, electronic systems in EVs and HEVs are anticipated to increase demand for GaN semiconductor devices, particularly in control systems, motor drives, braking systems, and lighting and displays. Moreover, DC-DC converters, electric motors, and inverters in various automobile body parts, such as battery systems, mechanical systems, and cooling systems, are among the recently developed GaN power semiconductor devices incorporated in EVs and HEVs.
Recent Strategic Developments in Gallium Nitride Semiconductor Device Market
The Gallium nitride semiconductor device market has undergone several significant developments, and a few of these have been mentioned below:
The Gallium nitride semiconductor device market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Efficient Power Conversion Corporation, Inc., Fujitsu Ltd., GaN Systems, Inc., Infineon Technologies AG, and Microsemi Corporation. Also, NXP Semiconductor N.V., Qorvo, Inc., Samsung Electronics Co. Ltd., Texas Instruments, Inc., and Toshiba Corporation are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of:
The List of Companies
- Efficient Power Conversion Corporation, Inc.
- Fujitsu Ltd.
- GaN Systems, Inc.
- Infineon Technologies AG
- Microsemi Corporation.
- NXP Semiconductor N.V.
- Qorvo, Inc.
- Samsung Electronics Co. Ltd.
- Texas Instruments, Inc.
- Toshiba Corporation