Chicago, April 05, 2023 (GLOBE NEWSWIRE) -- The Gallium Nitride Semiconductor Device Market by Device Type (RF, Power, Opto), Wafer Size, Application, Vertical (Consumer and Enterprises, Automotive, Telecommunications), and Geography 2026, Continuous emergence of technologies in GaN ecosystem, and suitability of GaN semiconductor devices in RF applications are some of the major factors driving the market growth.
Power drives segment is expected to witness higher CAGR growth during the forecast period
The power drives market is expected to register the highest CAGR during the forecast period. The EV market is growing globally with many new players entering the market. Growing awareness, as well as growing adoption of EV charging and electric vehicles and increasing renewable energy generation are the major factors driving the growth of the GaN semiconductor device market. Moreover, an increase in demand for motor drives owing to the high efficiency and performance characteristics offered by GaN devices in the high-voltage ranges (above 400 V) is also an important factor driving the market growth.
APAC is projected to register the largest market shareand the highest CAGR during the forecast period
Asia Pacific is projected to register the largest market share of GaN semiconductor device market in 2026. The region is also expected to register the highest CAGR during the forecast period. Growing market penetration of GaN power semiconductor devices, where GaN devices are increasingly replacing silicon counterparts, is predominant in several application segments such as consumer and enterprise, telecommunications, automotive, industrial, etc. in APAC. China is the largest contributor to raw materials for the wide bandgap semiconductor industry in terms of manufacturing and distribution. This is further expected to have an indirect positive impact on the revenue growth of the GaN semiconductor device market in APAC.
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Gallium Nitride Semiconductor Device Market Report Scope
| Report Attributes | Details |
| Estimated Market Size | USD 20.4 billion in 2022 |
| Projected Market Size | USD 24.9 Billion in 2026 |
| Growth Rate | 5.2% |
| Base Year Considered | 2020 |
| Historical Data Available for Years | 2017–2026 |
| Forecast Period | 2021–2026 |
| Segments Covered |
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| Region Covered |
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| Market Leaders |
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| Top Companies in North America |
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| Key Market Driver | Suitability of GaN in RF applications |
| Key Market Opportunity | Applications in electric and hybrid electric vehicles |
| Largest Growing Region | Asia Pacific |
| Largest Market Share Segment | Consumer and Enterprises Segment |
| Highest CAGR Segment | Power Drives Segment |
| Largest Application Market Share | Automotive Application |
Top Market Players:
Qorvo is a US-based semiconductor company with a broad product portfolio of RF solutions for advanced wireless, defense, and radar applications. The company offers various GaN solutions, including HEMT, switches, amplifiers, and power amplifiers. Some of the applications for which the company offers GaN products include communication, network infrastructure, satellite and radar, aerospace and defense, industrial, etc. The company has a presence worldwide, with sales and manufacturing facilities located in North America, Asia, and Europe.
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Another important player in the GaN semiconductor device market is Cree. Cree is a leading manufacturer of light-emitting diode (LED) products, lighting products, and wide bandgap semiconductor products for power and radio frequency (RF) applications. The Wolfspeed division of Cree develops Gallium Nitride (GaN) high electron mobility transistor HEMT-based radio frequency (RF) products such as general-purpose broadband 24V, general-purpose broadband 40V, and general-purpose broadband 50V. The GaN solutions offered by the company cater to sectors such as telecom and aerospace & defense, and communication infrastructure applications.
The company can leverage its custom die manufacturing capabilities for GaN HEMTs and MMICs to design and fabricate products that meet specific requirements of clients, thereby build its market position. The major focus of the company in recent times has been on the APAC region, especially China since the markets in this region hold substantial growth opportunities. It has undertaken acquisitions, expansions, agreements, and product launches to meet the changing needs of its extensive customer base and expand to niche demand markets.
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