The global gallium nitride (GaN) semiconductor devices market was valued at approximately USD 2.56 billion in 2023 and is projected to experience substantial growth, with an anticipated compound annual growth rate (CAGR) of 26.4% from 2024 to 2030. This remarkable growth can be primarily attributed to the unique capabilities of gallium nitride semiconductors, which deliver high-speed performance while also contributing to lower carbon emissions. These characteristics position GaN devices as highly effective components in the electronics sector. The wide band gap of gallium nitride enables these devices to be more compact and to efficiently handle larger electric fields, which enhances their overall performance.
The automotive sector is currently undergoing a transformative shift toward electrification, and GaN semiconductor devices have emerged as crucial components in this evolution. By leveraging the exceptional efficiency and robust power handling capabilities of GaN, various applications within electric vehicles—including onboard chargers, DC-DC converters, and power inverters—are being optimized for superior performance. As global demand for electric vehicles continues to escalate, the market for GaN semiconductor devices is poised for substantial growth. This trend plays a pivotal role in facilitating the widespread adoption of electric transportation solutions. The shift underscores the automotive industry's commitment to sustainability and reflects a broader paradigm shift towards cleaner and more efficient mobility solutions on a global scale.
Gather more insights about the market drivers, restrains and growth of the Gallium Nitride Semiconductor Devices Market
Component Segmentation Insights
Within the GaN semiconductor devices market, the power integrated circuit (IC) segment emerged as the dominant category in 2023. This growth can be largely attributed to the increasing adoption of GaN-based power ICs, which offer advanced features such as efficient navigation, collision avoidance, and real-time air traffic control capabilities. The segment is further propelled by significant contributions from leading companies like Fujitsu Ltd., Qorvo, Inc., and Toshiba Corporation, which are actively developing power ICs tailored for telecom and automotive applications. Additionally, the growing emphasis on energy efficiency and sustainability is driving the adoption of GaN power ICs, thanks to their inherently lower power losses and higher switching speeds when compared to conventional silicon-based alternatives.
The rectifier segment is also experiencing notable growth, fueled by the rising demand for high-efficiency power conversion solutions across a diverse array of industries, including automotive, consumer electronics, and telecommunications. GaN rectifiers are particularly advantageous due to their lower conduction and switching losses, which result in enhanced energy efficiency and reduced power dissipation. This efficiency translates into lower operating costs and improved overall system performance, especially in high-power and high-frequency applications where energy efficiency is critical. Moreover, GaN rectifiers boast faster switching speeds and higher breakdown voltages, allowing them to operate effectively at higher frequencies and manage higher voltages with greater reliability. This combination of features positions GaN rectifiers as essential components in modern electronic systems, further solidifying their role in the expanding GaN semiconductor devices market.
Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.
