Global Gallium Nitride Semiconductor Devices Industry Trends: Where the Market Is Headed by 2029
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How Much Larger Is The Gallium Nitride Semiconductor Devices Market Expected To Become By 2029 Compared With Its 2025 Level?
The market encompassing gallium nitride semiconductor devices has experienced swift expansion lately, with projections indicating a rise from a valuation of $10.35 billion in 2024 to $12.05 billion in the subsequent year, reflecting a compound annual growth rate of 16.4%. This robust upward trajectory observed during the past period stems from several key factors, including augmented governmental financial support, the proliferation of developing economies, a surge in the requirement for semiconductor apparatus, greater integration within the automotive sector, and escalating consumer appetite for electronic goods.
Anticipation is for substantial expansion in the market for gallium nitride semiconductor devices over the forthcoming years, projected to reach a valuation of $21.41 billion by 2029, reflecting a compound annual growth rate (CAGR) of 15.5%. This upsurge anticipated throughout the projection timeframe stems largely from several key factors: the escalating adoption of components based on GaN material within the defense sector, the swift proliferation of electric vehicles, augmented funding from venture capitalists, advancements in urban living, and a growing consumer appetite for personal electronic devices. Key developments shaping this market going forward involve the implementation of GaN 5g multi-modules, continuous innovation in product offerings, ongoing technological progress, expanded utilization in both electric vehicles (EVs) and hybrid EVs, alongside heightened capital allocation toward the broader semiconductor industry.
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What Are The Emerging Market Drivers Creating New Opportunities In The Gallium Nitride Semiconductor Devices Industry?
Anticipated expansion in the consumer electronics sector is projected to fuel the advancement of the gallium nitride semiconductor devices market, given that gallium nitride possesses a mobility rate one thousand times superior to that of silicon and carries a lower manufacturing cost than conventional semiconductors, leading to its broader adoption in consumer product manufacturing. Illustratively, LG, a South Korean consumer electronics giant, reported in its 2022 annual financial summary released in January 2023 that its sales for 2022 experienced a 12.9% upward trend over the preceding year, during which revenues exceeded roughly $52.70 billion. Additionally, the LG Home Appliance & Air Solution Company achieved another milestone year in 2022, generating $22.5 billion in revenue, signifying a year-over-year rise of 10.3%. Consequently, this rising appetite for consumer electronics serves as a key impetus for the expansion observed in the gallium nitride semiconductor devices market.
What Are The Emerging Segments Gaining Attention In The Gallium Nitride Semiconductor Devices Market?
The gallium nitride semiconductor devices market covered in this report is segmented –
1) By Component: Transistor, Diode, Rectifier, Power IC
2) By Device Type: Opto-Semiconductors, Power Semiconductors, RF Semiconductors
3) By Application: Automotive, Consumer Electronics, Defense And Aerospace, Healthcare, Industrial And Power, Information And Communication Technology, Other Applications
4) By Wafer Size: 2 Inch, 4 Inch, 6 Inch, 8 Inch
Subsegments:
1) By Transistor: GaN HEMTs (High Electron Mobility Transistors), GaN FETs (Field Effect Transistors)
2) By Diode: Schottky Diodes, GaN-based Diodes
3) By Rectifier: GaN Rectifiers, High-Frequency Rectifiers
4) By Power IC: GaN Power ICs, Integrated Power Management ICs
Which Key Trends Are Expected To Influence The Gallium Nitride Semiconductor Devices Market In The Coming Years?
Firms operating within the GaN semiconductor devices sector are actively innovating new offerings, aiming to boost recognition and broaden their portfolio of semiconductor solutions; as an illustration, in the sixth month of 2022, Wise-integration, a French enterprise specializing in GaN power supplies and integrated circuits, introduced its inaugural commercial offering, the 120mOhm WI62120 half-bridge power circuit, which subsequently provided power electronics engineers with enhanced power density capabilities, superior performance metrics, and greater cost efficiency. Furthermore, in March 2022, Cambridge GaN Devices, a United Kingdom firm focused on the design and advancement of GaN-based power components, released the ICeGaN 650 V H1 lineup, a sequence of four 650 V devices utilizing GaN-based technology capable of diminishing power dissipation by as much as 50%, thereby facilitating the integration of standard MOSFET drivers alongside GaN technology in systems currently relying on silicon-based architectures.
Which Industry Leaders Are Driving Innovation Across The Gallium Nitride Semiconductor Devices Market?
Major companies operating in the gallium nitride semiconductor devices market include Texas Instruments Incorporated, Toshiba Corporation, Infineon Technologies AG, Fujitsu Limited, NXP Semiconductors N.V., ams-OSRAM AG, Wolfspeed Inc, 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
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How Does The Gallium Nitride Semiconductor Devices Market Perform Across Key Geographic Regions?
North America was the largest region in the gallium nitride semiconductor device market in 2024. 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.
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