The size of the gallium nitride semiconductor market will power at a compound annual growth rate of 22.1% during 2022-2030, to touch a value of USD 72,813.1 million by 2030.
The features like higher energy efficiency, faster device speed, and lower costs provided by GaN semiconductor devices over silicon semiconductor devices, such as computers, smartphones, televisions, and cameras, are likely to propel the growth of the industry.
The surging demand for energy-efficient GaN components and semiconductors in wired communications will propel the growth of the industry. Internet service providers are mainly focused on incorporating high capacity, ubiquitous connectivity, and low-latency networks using optical cables in the telecommunication sector.
The use of these semiconductors in the automotive sector for indoor and outdoor lights, automotive lights, and pulse-powered laser systems, is increasing, which fuel the growth of the industry in this category.
The power IC category accounted for the majority of the gallium nitride semiconductor devices market share. The need for GaN-based power ICs is increasing, due to their features, including collision avoidance, efficient navigation, and real-time air traffic control.
The 6-inch category is expected to witness the highest CAGR, of around 25%, in the coming years.
This is due to the advantages of the 6-inch GaN semiconductors, such as precise current control and uniform voltage supply, which lead to their rising applications for automotive collision-avoidance devices, power amplifiers of wireless cellular base stations, and defense equipment, in the automotive, consumer electronics, and defense sectors.
Defense and aerospace industry is growing at a highest rate which leads to increased demand for GaN semiconductor devices because they improve data transmission and execution dependability in armed services, communications, and radars.
GaN ICs are also vastly used in radars to enable collision resistance policy, empower efficient navigation, and enable real-time air traffic surveillance. Also, these semiconductors are widely used in military jammers and terrestrial radios
North America accounted for the largest revenue share of the gallium nitride semiconductor devices market, and it is will generate around USD 26 billion revenue by 2030. This is due to the rising internet penetration and the huge adoption of smartphones.
5G network would cover more than half of the region by 2030. Moreover, mobile operators are heavily investing in content and media capabilities, along with 5G services and IoT applications.
Growing use of GaN for commercial purposes and surging demand for electric vehicles which heavily employ GaN semiconductors are some factors which will propel the industry in near future.
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