GaN semiconductor devices market to reach $19.5B by 2031
The expansion of 5G networks globally is significantly contributing to the demand for Gallium Nitride (GaN) semiconductor devices in RF and power electronics applications.
The global Gallium Nitride (GaN) semiconductor devices market is poised for impressive growth, projected to expand at a CAGR of 27.4% from 2022 to 2031. Valued at USD 1.85 billion in 2021, the market is expected to reach USD 19.5 billion by 2031, according to a report by global market research company Transparency Market Research.
This growth is driven by increasing demand for high-performance semiconductors across multiple industries, including IT and telecommunication, consumer electronics, automotive and transportation, and aerospace and defense.
Gallium Nitride (GaN) is a wide bandgap semiconductor known for its superior mechanical stability, high breakdown strength, rapid switching speed and excellent thermal conductivity. These properties make GaN a preferred choice for power devices and RF components, effectively replacing traditional silicon semiconductors in various applications, the report says.
With rising emphasis on power efficiency and performance, GaN technology is gaining traction in power circuits, RF designs, LEDs, and high-power applications. The increasing use of GaN-based power semiconductor devices in smartphones, laptops, and monitors to optimize battery performance further propels market expansion.
“A surge in demand for high-power applications in industrial and telecommunications sectors is driving the adoption of GaN semiconductor devices,” Transparency Market Research said in a media release. “Companies like Infineon Technologies and Texas Instruments are enhancing their GaN technology solutions to boost efficiency and power density.”
The expansion of 5G networks globally is significantly contributing to the demand for GaN devices in RF and power electronics applications.
The semiconductor industry is transitioning towards 12-inch GaN wafers for high-power applications, with companies like Xiamen Powerway Advanced Material Co., Ltd. leading innovations in GaN substrates.
Prominent companies driving the GaN semiconductor devices market include Analog Devices, Cambridge GaN Devices, Efficient Power Conversion Corporation, Fujitsu, Infineon Technologies, Navitas Semiconductor, NXP Semiconductors, Qorvo, Renesas Electronics Corporation, Texas Instruments, and Transphorm.
