GaN Semiconductor Devices Size, Share, Growth, Demand 2026

Posted May 30, 2022 by ctom7000

The power drives segment for GaN semiconductor device market is expected to grow at the highest CAGR
The GaN semiconductor device market is estimated to be USD 19.4 billion in 2021 and is projected to reach USD 24.9billion by 2026, at a CAGR of 5.2% during the forecast period.

The key factors fueling the growth of this market include wide gap property of GaN material facilitating innovative applications, success of GaN in RF power electronics, and the increasing adoption of GaN RF semiconductor devices for defense and aerospace applications.

The GaN market has promising growth potential due to several factors, including the potential use of GaN in 5G infrastructure, applications of GaN in electric and hybrid electric vehicles, rise in demand for data centers, laptops, and tablets triggered due to COVID-19, and the increasing adoption of smart factories further propelled by COVID-19.

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Countries in the North America and APAC region have also witnessed increasing adoption of GaN semiconductor device products for various applications which hasaided in the growth of GaN industry. The high demand for power electronics and RF transistors in automotive, aerospace and defense, consumer and enterprise, and telecommunications sectorin these regions is driving the growth of the GaN semiconductor device market. Advancements in epitaxial growth technology, have led to several developments in the field of GaN, GaN-on-Si, and GaN-on-SiC technologies. All these factors have had a positive impact on the growth of the GaN semiconductor device market. In emerging economies, telecommunication and industrial sector are growing significantly, thereby contributing to the growing demand for GaN products in these sectors.

The GaN semiconductor device market for power semiconductors segment is expected to register the highest market growth during the forecast period, by device type. Advancements in GaN device technology, GaN epitaxial growth, and circuit implementations have led to the development of high-performance GaN power devices, which are perfectly suited for use in high-frequency switching applications in consumer electronics, automotive, and other such enterprise applications. Moreover, the high electron mobility of GaN devices enable them to attain smaller size for a given breakdown voltage and on-resistance when compared to Silicon (Si) semiconductor. These reasons are expected to drive the market growth of GaN power semiconductors in near future.

The power drives segment for GaN semiconductor device market is expected to grow at the highest CAGR during the forecast period, by application. The EV market is growing worldwide with many new market players entering the market. The increasing 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 GaN semiconductor device market. Apart from this, a huge 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 a factor for the growth of the GaN semiconductor device market.

The GaN semiconductor device market in North America is estimated to grow at the second-highest CAGR in terms of value during the forecast period. North America is the hub of research and development activities for GaN semiconductor devices. The majority of the research developments of technologies, devices, and products related to GaN take place in the US. The growing electric and hybrid electric vehicle market is also supporting this growth in North America.
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Issued By Tom
Country United Kingdom
Categories Advertising
Tags gan semiconductor devices
Last Updated May 30, 2022