Gallium Nitride Semiconductor Devices Market size is expected to reach USD 12.47 billion by 2030

 Gallium Nitride Semiconductor Devices Industry Overview

The global gallium nitride semiconductor devices market size was valued at USD 1.88 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 24.4% from 2022 to 2030.

 

The growth of the market can be attributed to the advantages offered by GaN semiconductor devices over silicon devices. Silicon materials have been used for manufacturing electronic devices such as smartphones, computers, cameras, and televisions. However, the slowdown in potential innovative properties of silicon created an opportunity for GaN semiconductor devices, which are 100 times faster than silicon. The advantages offered by GaN over silicon devices include higher energy efficiency, lower costs, and faster device speed, among others.

 

The growing number of electric vehicles worldwide is anticipated to drive the market. This is because GaN enables automakers to reduce vehicle charging time, improve cost efficiency, increase power density, and enhance driving range. Various companies are thereby making efforts to provide GaN systems for Electric Vehicles (EV). For instance, in November 2021, GaN Systems, a GaN power semiconductors provider, announced its partnership with Universal Scientific Industrial Co., Ltd (USI), a subsidiary of ASE Technologies. The partnership was aimed toward developing GaN power modules for the EV market.

 

Gather more insights about the market drivers, restrains and growth of the Global Gallium Nitride Semiconductor Devices Market

 

Various GaN semiconductor device manufacturers receive funding from venture capital companies, which helps them to enhance their offerings and market position. For instance, in November 2021, GaN Systems, a power chip maker, announced that it raised USD 150 million in a funding round. The company used this funding to accelerate the adoption and innovation of GaN technology across its consumer, automotive, industrial, and enterprise markets. Additionally, in February 2021, Cambridge GaN Devices, a fabless semiconductor company, raised USD 9.5 million in a Series A round. The company used the funding to expand its GaN product portfolio.

 

The demand for GaN in 5G multi-chip modules is growing for energy-efficient mobile networks. Therefore, various semiconductor companies are making efforts to integrate GaN in 5G multi-chip modules. For instance, in June 2021, NXP Semiconductors announced the integration of GaN technology into its multi-chip module. The use of GaN in multi-chip modules increased the efficiency to higher than the company’s previous module.

 

The growing shipments of robots worldwide are also expected to drive the market. GaN is used for servo drives for motion control and robotics. According to the statistics provided by the International Federation of Robotics, there will be an increase in yearly robotic unit sales from 465 thousand units in 2020 to 584 thousand units in 2022. The increasing need for automation in the manufacturing process and advancements in technology are some of the factors expected to drive the sales of robot units over the forecast period.

 

Browse through Grand View Research's Semiconductors Industry Research Reports

  • Integrated Passive Devices Market: The global integrated passive devices market size to be valued at USD 2.64 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 11.7% during the forecast period.
  • LED Driver Market: The global LED driver market size was valued at USD 5.04 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 23.5% from 2022 to 2030.

 

Market Share Insights

  • December 2021: Microchip Technology Inc., a microcontroller manufacturer, announced the expansion of its GaN RF power device portfolio with new discrete transistors and MMICs. 
  • November 2021: GaN Systems, a GaN power semiconductors provider, announced its partnership with Universal Scientific Industrial Co., Ltd (USI), a subsidiary of ASE Technologies. 

 

Key Companies Profile

Some prominent players in the global Gallium Nitride (GaN) semiconductor devices market include:

  • Cree, Inc.
  • Efficient Power Conversion Corporation
  • Fujitsu Ltd.
  • GaN Systems
  • Infineon Technologies AG
  • NexgenPowerSystems
  • NXP Semiconductor
  • Qorvo, Inc.
  • Texas Instruments Incorporated
  • Toshiba Corporation

 

Order a free sample PDF of Gallium Nitride Semiconductor Devices Market Intelligence Study, published by Grand View Research.

 

 

Comments

Post a Comment

Popular posts from this blog

Global Potash Market: Trends, Growth & Forecast 2023-2032

T he global  potash market  size is expected to reach USD 93.50 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032, according to a new study by Grand View Research, Inc. This is attributed to the increasing demand for food and efficient usage of agricultural land. As consumers seek healthier options, there has been a surge in demand for high-value crops like fruits, vegetables, and specialty crops, boosting the demand for potash. Furthermore, the adoption of precision agriculture techniques has become increasingly prevalent in recent years. Precision agriculture involves using advanced technologies and data-driven approaches, such as soil testing and targeted nutrient management, to make informed decisions about fertilizer application.   Farmers are embracing precise and site-specific methods for applying fertilizers, based on field variability and crop requirements. This trend makes way for optimized resource utilization, improved crop performance, and enhanced...
Read more

Smart Ticketing Market Report: Emerging Technologies & Market Opportunities

  The global smart ticketing market size is expected to reach USD 31.65 billion by 2030, growing at a CAGR of 15.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. With the widespread adoption of smartphones, mobile ticketing channels have gained traction, allowing users to purchase, store, and validate tickets directly on their mobile devices, eliminating the need for physical cards or paper tickets. The convenience and ease of use offered by mobile ticketing have contributed to the growth of the market. Smart ticketing systems generate vast amounts of data on passenger journeys, travel patterns, and ticket usage.   Operators leverage this data to gain valuable insights, optimize operations, and improve the overall passenger experience. Data analytics techniques, such as predictive modeling and real-time monitoring, are being applied to enhance efficiency, manage capacity, and offer personalized services, which bode well for smart ticketing...
Read more

Boosting Crop Yields: India Foliar Fertilizer Market Trends & Forecasts

  The  India foliar fertilizer market  size is expected to reach USD 4.9 billion by 2030, expanding at a CAGR of 11.3% during the forecast period, as per a new report by Grand View Research, Inc. The industry growth is majorly driven by surged demand for food due to increasing population coupled with supportive government initiatives and decreasing arable land in the country.   There has been a significant increase in the global prices of fertilizers and foliar fertilizers. As such, farmers falling into small- and marginal-income categories cannot afford to buy fertilizers resulting in reduced agricultural yields. This has led the Government of India to take initiatives to provide fertilizer subsidies to farmers in the country to make them affordable at subsidized prices. For instance, the Government of India announced a subsidy scheme related to fertilizers worth USD 27 billion in 2022 to ensure that fertilizers are affordable for every farmer in the country. Thus, ...
Read more