Gallium nitride (GaN) semiconductor device. GaN-based power devices are mechanically robust wide bandgaps that work significantly better than silicon-based ones in terms of breakdown strength, switching speed, thermal conductivity, and on-resistance. Higher energy efficiency, reduced costs, and faster device speed are a few of the benefits that GaN semiconductor devices have over silicon devices. The GaN semiconductor devices market is anticipated to grow in response to rising demand for consumer electronics such as smartphones, gaming consoles, laptops, and TVs. The increasing demand for base stations and high-power transistors brought on by the adoption of the 5G standard is further expected to boost the GaN semiconductors devices market growth over the forecasted period.
The rising usage of diodes will boost the market growth
Electrical networks in electronic devices use signal diodes, which can only transmit electrical data in one direction. A diode has certain advantages such as it loses less energy as the current passes through it, making it an ideal replacement for signals produced by tiny currents where significant energy loss could cause signal distortion. The growing number of electronic devices will boost the demand for signal diodes thereby leading to GaN semiconductor devices market growth. According to the federal reserve system, the industrial production of home electronic appliances climbed by 15.2% of rate from January 2022 to January 2023. According to World Bank data, the electronic and electric appliance industry is expected to increase further in the coming years and will be reaching more than 450 billion US dollars in value by 2023.
Increasing demand in the consumer electronics industry will boost the market growth
GaN is becoming more and more popular in 5G multi-chip modules because these networks require more energy-efficient technology, as a result, several semiconductor firms are working to incorporate GaN into 5G multi-chip systems and have developed several products which will drive the GaN semiconductor market growth. For instance, in June 2021 NXP Semiconductors revealed that GaN technology had been incorporated into its multi-chip module. Gallium Nitride (GaN) technology integration into its multi-chip module platform for 5G infrastructure represents a significant industry milestone for the 5G energy economy, increasing efficiency by 8%. The advent of 5G wireless communication coupled with growing electronics device utilization will positively impact the demand for GaN semiconductors devices. According to the Federal Communications Commission, the number of 5G mobile service subscriptions in the United States rose by 161.4% to 41.3 million in 2021 from 2020, with rapid growth anticipated to continue for several years. These product launches and advancements in 5G technology will certainly drive the growth of the GaN semiconductor devices market.
Asia Pacific region is anticipated to dominate the market during the forecast period.
Asia-Pacific is anticipated to dominate the GaN semiconductor devices market during the projection period as a result of the flourishing electronics industry in countries like China and India. For instance, according to the State Council of the People's Republic of China, major electronics manufacturers' added value increased 12.7% year over year in the two months between January and February 2022, as opposed to the 7.5% growth experienced by the nation's entire industrial sector. The rapid adoption of 5G networks, the expansion of Internet of Things (IoT) applications for devices, including assisted driving and vehicle-to-everything connectivity for smart transportation and the use of EVs in the area, is anticipated to boost the GaN semiconductor market. According to the IEA data, the registration of battery electric vehicles in China increased from 931 thousand units in 2020 to 2734 thousand units in 2021 showing the electric vehicle market share increased from 5 % to 16 % in one year. In October 2022, the government of India officially introduced 5G services in India. The 5G use cases were created by telecommunications companies and start-ups in the fields of labor safety, smart agriculture, and others. are currently being implemented nationally. Such an increase in 5G technology and electric vehicle usage due to the increase in IOT applications in the Asia-pacific region will boost the GaN semiconductor devices market growth.
Market Key Developments.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR during the forecast period |
| Base Year | 2021 |
| Forecast Period | 2023 – 2028 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Type, Component, Industry Vertical, and Geography |
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies Covered | Toshiba Corporation, Wolfspeed Inc, GaN Systems Inc, Infineon Technologies AG, Efficient Power Conversion Corp, NXP Semiconductors NV, Texas Instruments, NTT Advanced Technology Corp, STMicroelectronics, Nexperia |
| Customization Scope | Free report customization with purchase |
Segmentation