GaN Semiconductor Devices Market Share, Growth Factors, Comprehensive Research, Analysis by Leading Companies with Forecast till 2030
GaN Semiconductor Devices Market Analysis
GaN Semiconductor Devices Market Size was valued at USD 9,408.5 Million in 2022. The GaN Semiconductor Devices Market industry is projected to grow from USD 10,998.5 Million in 2023 to USD 60234.2 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 20.5 % during the forecast period (2023 - 2032).
RF GaN Semiconductor Market Drivers/ RF GaN Semiconductor Market Trends
Rising Use of RF GaN Semiconductor Device in Defense Sector to Boost Market Growth
The rising use of such devices in the defense sector will boost market growth over the forecast period for the growing need for increased bandwidth as well as performance reality in electronic warfare, radars, radio communications, and others. SiC is the right choice for manufacturing bullet-proof jackets owing to its strength and hardness. ICs that are GaN-based are used in radars for effective navigation along with real-time air traffic control. Further, GaN can provide higher operating frequencies for terrestrial radios, military jammers, and radar communication. The growing adoption of wideband GaN power transistors from different defense forces is fuelling market growth.
GaN Semiconductor Devices Market Key Players
Eminent players profiled in the global RF GaN semiconductor device market report include Mitsubishi Electric Corporation (Japan), Sumitomo Electric Industries, Ltd (Japan), Raytheon Company (US), Robert Bosch GmbH (Germany), STMicroelectronics (France), Hitachi, Ltd (Japan), Toshiba Corporation (Japan), Infineon Technologies AG (Germany), Panasonic Corporation (Japan), Microchip Technology (US), Renesas Electronics Corporation (Japan), Aethercomm Inc.(US), Cree, Inc. (US), Analog Devices Inc.(US), NXP Semiconductor (Netherlands), ROHM Semiconductors (Japan), Qorvo Inc. (US), among others.
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Opportunities
Potential Usage of 5G Infrastructure to Provide Robust Opportunities
The usage of gallium nitride in 5G infrastructure will offer the market with robust opportunities in the forecast period. 5G replaced 4G in terms of traffic capacity, data rates, and energy efficiency. Commercially the 5G technology will be launched in 2021. It will offer different perks such as effective communication network with minimum cost. Technology giants such as AT&T and Nokia are participating in the research and development initiative to build the 5G technology across the United States.
GaN Semiconductor Devices Market Challenges
Designing Complexities to act as Market Challenge
Various complexities related to designing the GaN devices’ electrical layout may act as a market challenge in the forecast period. Besides, the COVID-19 impact may also impede market growth.
GaN Semiconductor Devices Market Key Restraints
High Cost of Material to act as Market Restraint
The high cost of fabrication and material may act as a market restraint in the forecast period.
GaN Semiconductor Devices Market Regional Analysis
North America to Sway RF GaN Semiconductor Device Market
North America will sway the market over the forecast period. Rising investments by organizations concerning 5G technology, the presence of various largest multinational corporations that offer devices for end users such as military and defense, electronics, IT and telecom, and others, increasing investments by the aerospace and defense sector in R&D, the government in the region promoting the adoption of energy efficient devices and offering contacts to different companies, increasing use of GaN in consumer electronic devices including personal computers, televisions, laptops, tablet, PCs, and mobile phones for its efficiency, and different manufacturers emphasizing on innovating new products which are low cost and power efficient are adding to the RF GaN semiconductor devices market value in the region.
GaN Semiconductor Devices Market Segmentation
The global RF GaN semiconductor device market is segmented based on end user, applications, and material.
• By material, the RF GaN semiconductor device market is segmented into GaN-On-Silicon, GaN-On-Diamond, and GaN-On-Sic.
• By application, the RF GaN semiconductor device market is segmented into satellite communication, wireless infrastructure, PV inverter, power storage, and others.
• By end user, the RF GaN semiconductor device market is segmented into IT and telecom, automotive, aerospace and defense, consumer electronics, and others.
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