Powering Progress Exploring the GaN Semiconductor Devices Market
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 ...