GaN Semiconductor Device Market Opportunities, Growth, Strategies, Analysis


Posted January 14, 2022 by ctom7000

APAC is projected to register the largest market share of the GaN semiconductor device market in 2026
 
The global GaN semiconductor device market is estimated to be USD 19.4 billion in 2021 and projected to reach USD 24.9 billion by 2026; at a CAGR of 5.2%. Key factors fueling the growth of this market include the wide gap property of GaN material facilitating innovative applications, success of GaN in RF power electronics, and the increasing adoption of GaN RF semiconductor devices for defense and aerospace applications.

Power semiconductors segment is expected to witness higher CAGR growth during the forecast period

Services segment for the large format display market is expected to register the highest CAGR during the forecast period by offering. Advancements in GaN device technology, GaN epitaxial growth, and circuit implementations have led to the development of GaN power devices, which are perfectly suited for use in high-frequency switching applications in consumer electronics, automotive, and other such enterprise applications. All these factors are expected to drive the future market growth of GaN power semiconductors.

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Renewables segment is expected to witness higher CAGR growth during the forecast period

The renewables segment of the GaN semiconductor device market is expected to witness the highest CAGR growth during the forecast period, by vertical. This rapid growth can be attributed to the use of GaN transistors in designing energy storage systems, which have bi-directional power flow architectures and are simple in design, low cost, and highly efficient. These benefits offered by GaN have led to the increasing adoption of GaN transistors instead of the conventional silicon-based transistors in energy storage systems and other renewable solutions including AC solar panels, solar DC to AC inverters, and VAR compensators. This adoption is further expected to increase in the future leading to the market growth of the segment.

APAC is projected to register the largest market share of the GaN semiconductor device market in 2026

Asia Pacific is projected to register the largest market share of GaN semiconductor device market in 2026. The rapid market penetration of GaN power semiconductor devices, where GaN devices are increasingly replacing silicon counterparts, is predominant in several application segments such as consumer and enterprise, telecommunications, automotive, industrial, etc. in APAC. China is the largest contributor to raw materials for the wide bandgap semiconductor industry in terms of manufacturing and distribution. This is further expected to have an indirect positive impact on the revenue growth of the GaN semiconductor device market in APAC.

The recent COVID-19 pandemic is expected to slightly negatively impact the global GaN semiconductor device industry. The entire supply chain got disrupted due to a limited supply of parts during the first quarter of 2020. For instance, the outbreak of COVID-19 in China resulted in lockdown measures which included the shutdown of manufacturing facilities and warehouses and affected the global exports and shipments of various industries. The lockdown measures announced in several countries across the globe as they got impacted by the COVID-19 pandemic also led to a fall in the domestic and export demand for semiconductors including GaN in these countries.

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Key Market Players

The GaN semiconductor device market is dominated by a few globally established players such Cree (US), Qorvo (US), GaN Systems (Canada), Infineon Technologies (Germany), and MACOM (US).
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Issued By Tom
Country United Kingdom
Categories Semiconductors
Tags gallium nitride semiconductor device market
Last Updated January 14, 2022