PUBLISHER: The Business Research Company | PRODUCT CODE: 1429809
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429809
Gallium nitride semiconductor devices involve the manufacturing of electronic components such as transistors and diodes, utilizing gallium nitride material for energy-to-power conversion. These devices possess dynamic electric and chemical properties, making them suitable for the development of robust, mechanically stable, high-voltage, and high-frequency electronic power devices. Gallium nitride semiconductors are gaining prominence as a substitute for silicon-based semiconductors, addressing the increasing demands for enhanced power system efficiency, performance, and cost-effectiveness.
The primary components of gallium nitride semiconductor devices include capacitors, diodes, rectifiers, and power integrated circuits (ICs). Transistors, which are essential for amplification, switching, or signal modulation, serve as fundamental building blocks in modern electronic circuits and play diverse roles in electronic devices. Various device types associated with gallium nitride semiconductors include opto-semiconductors, power semiconductors, and RF (radiofrequency) semiconductors. These semiconductors come in different wafer sizes, including 2 inches, 4 inches, 6 inches, and 8 inches, and find applications in automotive, consumer electronics, defense and aerospace, healthcare, industrial and power, information and communication technology, among other sectors.
The gallium nitride semiconductor devices market research report is one of a series of new reports from The Business Research Company that provides gallium nitride semiconductor devices market statistics, including gallium nitride semiconductor devices industry global market size, regional shares, competitors with a gallium nitride semiconductor devices market share, detailed gallium nitride semiconductor devices market segments, market trends and opportunities, and any further data you may need to thrive in the gallium nitride semiconductor devices industry. This gallium nitride semiconductor devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The gallium nitride semiconductor devices market size has grown rapidly in recent years. It will grow from $8.82 billion in 2023 to $10.51 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The expansion observed in the historical period can be attributed to increased government funding, the growth of emerging markets, a rising demand for semiconductor equipment, increased usage in automobiles, and an increasing demand for consumer electronics.
The gallium nitride semiconductor devices market size is expected to see rapid growth in the next few years. It will grow to $19.81 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The anticipated growth in the forecast period can be attributed to the rising use of Gallium Nitride (GaN)-based components in the defense industry, the high proliferation of electric vehicles, increased venture capital funding, rising urbanization, and an increasing demand for Portable Electronic Devices (PED). Key trends expected in the forecast period encompass GaN 5G multi-modules, product innovation, technological advancement, applications in electric vehicles (EVs) and hybrid EVs, and an increasing investment in the semiconductor market.
The gallium nitride semiconductor devices market is poised for growth, primarily driven by the increasing demand for consumer electronics. Gallium Nitride (GaN) exhibits superior mobility, being 1,000 times faster than silicon, and is more cost-effective to produce than traditional semiconductors, making it a preferred choice in consumer electronics. Notably, LG, a South Korea-based consumer electronics company, reported a significant growth of 12.9% in sales for 2022, exceeding $52.70 billion. The LG Home Appliance & Air Solution Company also achieved a record-breaking revenue of $22.5 billion, marking a 10.3% increase from the previous year. This surge in consumer electronics demand is a key factor propelling the gallium nitride semiconductor devices market.
The utilization of technologically advanced GaN systems in the defense and aerospace sector is expected to further drive market growth. The increasing demand for enhanced bandwidth and performance reliability in applications such as radio communications, radars, and electronic warfare has fueled the adoption of GaN-based integrated circuits (ICs). GaN is instrumental in providing higher operating frequencies for military jammers, terrestrial radios, and radar communication. Notably, in April 2022, MACOM Technology Solutions Inc., a US-based RF and microwave solutions supplier, secured a contract from the U.S. Department of Defense to develop a high-power transmitter using innovative GaN semiconductor technology. This highlights the rising prominence of GaN-based components in the defense industry, contributing to the growth of the market.
Companies operating in the GaN semiconductor devices market are actively engaged in product innovation to expand their product offerings and enhance brand awareness. Wise-integration, a French GaN power supplies and integrated circuit company, launched its first commercial product, the 120mOhm WI62120 half-bridge power circuit, in June 2022. This product offers increased power density, performance, and cost-effectiveness for power electronics designers. Additionally, Cambridge GaN Devices, a UK-based semiconductor company, introduced the ICeGaN 650 V H1 series in March 2022, leveraging GaN technology to reduce power losses by up to 50%. Such product innovations contribute to the diversification of semiconductor offerings in the market.
Technological progress is propelled by extensive research and development initiatives undertaken by key industry players. Major companies operating in the semiconductor market prioritize research and development to achieve technological advancements, providing added benefits and improving overall yield. Such advancements serve as a crucial factor for companies aiming to secure a competitive edge in the market. An illustrative example is the collaborative effort between Infineon Technologies, a US-based automotive semiconductor company, and Panasonic Holdings Corporation, a Japanese electronics company. In September 2021, these companies jointly developed the second generation of 650 V GaN technology on 200 mm silicon wafers. This strategic move by Infineon represents a foray into GaN-on-Si wafer production to meet the growing demand for GaN power semiconductors across diverse applications, including high- and low-power switched-mode power supply (SMPS) applications, renewables, and motor drive applications.
In August 2022, Navitas Semiconductor, a US-based semiconductor device company specializing in innovative high-voltage power switching components and systems based on proprietary GaN processing technology, completed the acquisition of GeneSiC Semiconductor. This strategic acquisition, executed for an undisclosed amount, enables Navitas Semiconductor to gain access to GeneSiC's patent-protected products, advanced technology, and a skilled and innovative team. The collaboration positions Navitas to expand its portfolio of power semiconductor offerings. GeneSiC Semiconductor, a leading provider of GaN power semiconductor products based in the US, brings valuable expertise to the table, further strengthening Navitas Semiconductor's position in the dynamic GaN semiconductor market.
Major companies operating in the gallium nitride semiconductor devices market report are Texas Instruments Incorporated, Toshiba Corporation, Infineon Technologies AG, Fujitsu Limited, NXP Semiconductors N.V. ams-OSRAM AG, Qorvo Inc., Panasonic Holdings Corporation, NTT Advanced Technology Corporation, Enkris Semiconductor Inc., Sanan Integrated Circuit, Navitas Semiconductor, Cypress Semiconductor Corp, ARM Ltd., Renesas Electronics Corporation, Saankhya Labs, ASM Technologies, CDIL, Hyundai Electric, STMicroelectronics, Exagan, GaN Systems, UnitySC, Dialog Semiconductor PLC, Cree Inc., Efficient Power Conversion Corporation
North America was the largest region in the gallium nitride semiconductor device market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gallium nitride semiconductor devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the gallium nitride semiconductor devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The gallium nitride semiconductor market consists of sales of LEDs, solar cells, photodiodes, and lasers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Gallium Nitride Semiconductor Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gallium nitride semiconductor devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gallium nitride semiconductor devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gallium nitride semiconductor devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.