Gallium Nitride Semiconductor Devices Global Market Sees Growth Rate Of 15% Through 2026

The global gallium nitride semiconductor devices market size is expected to increase from $6.24 billion in 2021 to $7.00 billion in 2022 at a compound annual growth rate (CAGR) of 12.13%. The change in the gallium nitride semiconductor market growth trend is mainly due to companies' stabilising their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market size is expected to reach $12.41 billion in 2026 at a CAGR of 15.38%.

What is the Global Gallium Nitride Semiconductor Devices Market?

The gallium nitride semiconductor devices market consists of sales of semiconductor device products by entities (organizations, sole traders, and partnerships) that refer to the manufacturing of semiconductor devices such as transistors and diodes for the conversion of energy to power using gallium nitride material. Gallium nitride semiconductor devices have dynamic electric and chemical properties that are used to develop electronic power devices that are very hard, mechanically stable, high voltage, and have a high frequency. Gallium nitride semiconductors are on the rise as a replacement for silicon-based semiconductors because they can meet growing demands for improved power system efficiency, performance, and system cost.

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What drives the Global Gallium Nitride Semiconductor Devices Market?

Increasing demand for consumer electronics is expected to propel the growth of the gallium nitride semiconductor devices market. Gallium Nitride is 1,000 times quicker than silicon in terms of mobility. It is less expensive to produce than regular semiconductors, hence it is more widely used in consumer electronics. For instance, according to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), the Indian appliances and consumer electronics market is expected to grow more than two-folds in the next five to six years and reach up to $26.81 billion. Also, according to ClearSale, the revenue in the consumer electronics segment is anticipated to increase by more than US $360 billion in 2020 and more than US $450 billion by 2024. Therefore, the increasing demand for consumer electronics is driving the growth of the gallium nitride semiconductor devices market.

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Global Gallium Nitride Semiconductor Devices Market Segments
The global gallium nitride semiconductor devices market is segmented:
By Component: Transistor, Diode, Rectifier, Power IC
By Device Type: Opto-Semiconductors, Power Semiconductors, RF Semiconductors
By Application: Lighting and Lasers, Supplies and Inverters, Radio Frequency, Power Drives, Consumer and Enterprises, Industrial, Telecommunications, Automotive, Renewables, Aerospace and Defense Healthcare
By Wafer Size: 2 Inch, 4-Inch, 6-Inch, 8-Inch
By Geography: The regions covered in the gallium nitride semiconductor devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Gallium Nitride Semiconductor Devices Global Market Report 2022provides market size and growth forecasts for the global gallium nitride semiconductor devices market, global gallium nitride semiconductor devices market share, gallium nitride semiconductor devices market segments and geographies, gallium nitride semiconductor devices market competitive landscape including leading competitors’ revenues, profiles and market shares. The gallium nitride semiconductor devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Gallium Nitride Semiconductor Devices Industry Playersinclude Cree, Inc., Efficient Power Conversion Corporation, Fujitsu Ltd., GaN Systems, Infineon Technologies AG, Qorvo, Inc., NexgenPowerSystems, NXP Semiconductor, Texas Instruments Incorporated, Toshiba Corporation, Samsung, Mitsubishi Electric, MACOM, ST Micro Electronics, Panasonic, Dialog Semiconductor, ST Micro Electronics, Panasonic, and Dialog Semiconductor. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.