GaN Semiconductor Devices Market Revenue to Attain USD 33.79 Bn by 2033

02 Dec 2024

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Table of Content

1. GaN Semiconductor Devices Market Revenue and Trends 2023 to 2033 2. Report Highlights 3. GaN Semiconductor Devices Market Trends 4. Regional Insights 5. GaN Semiconductor Devices Market Coverage 6. Major Key Players

GaN Semiconductor Devices Market Revenue and Trends 2023 to 2033

The global GaN semiconductor devices market size was USD 4.22 billion in 2024 and is expected to reach around USD 33.79 billion by 2033, expanding at a CAGR of 26% between 2024 and 2033. The demand for GaN semiconductor devices is rising due to the increasing focus on renewable energy sources and growth in 5G and telecommunications. Moreover, GaN semiconductors are known for their higher efficiency and high power density, making them suitable for power electronics.

Market Overview

The market is experiencing significant growth due to rising awareness about the advantages of GaN semiconductor devices over silicon devices. Silicon materials have been used to produce various electronic goods, including computers, cameras, TVs, and telephones. Now that silicon's potential for innovation has decreased, and GaN semiconductor devices, which are 100 times faster than silicon, are gaining traction. Compared to silicon-based counterparts, GaN devices are more energy-efficient and cheaper.

The increasing production of electric vehicles (EVs) is one of the major factors boosting the market growth. GaN semiconductors reduce charging times, boost power density, and extend the range of EVs. Consequently, several companies are striving to develop GaN systems for electric cars. Moreover, GaN technology is transforming the consumer electronics industry, enhancing the efficiency and power density of consumer electronics.

In November 2024, Infineon Technologies AG launched the CoolGaN Transistors 650 V G5, further strengthening its Gallium Nitride (GaN) portfolio. This new product's target applications range from consumer and industrial switched-mode power supplies (SMPS) such as USB-C adapters and chargers, lighting, TV, data center, and telecom rectifiers to renewable energy and motor drives in home appliances.

Report Highlights

• Based on product, the opto-semiconductors segment dominated the market with the largest share in 2023. This is due to the expanding application of opto-semiconductors in lasers, LEDs, and solar cells. Additionally, these semiconductors are widely used in the aerospace industry in applications like pulsed laser and LiDAR.
• On the basis of component, the transistor segment held the largest share of the market in 2023, owing to the shift toward 4G-enabled devices. GaN-based transistors are in high demand in the telecommunication industry due to their high power densities and high switch frequencies as compared to silicon-based transistors. 
• Based on wafer size, the 4-inch segment dominated the GaN semiconductor devices market in 2023. This is mainly due to the high usage of 4-inch wafers in telecom frontends, high-temperature devices, optoelectronics devices, and high-power amplifiers. Moreover, they are use in space communication applications due to their radiation-hardened qualities.
• On the basis of end use, the information & communication technology segment accounted for the largest market share in 2023. This is mainly due to the high adoption of GaN semiconductor in IoT devices, DAS networks, and satellite communication. The increased demand for IoT devices further bolstered the segment.

GaN Semiconductor Devices Market Trends

• Rising Adoption in EVs: The usage of GaN semiconductor devices is increasing in EVs. These devices are used in chargers and power management systems to improve charging speed. 
• High demand for Power Electronics: With the growing demand for power electronics, the demand for GaN semiconductor devices is increasing.  They have the capability to enhance efficiency and power handling, making them suitable for power electronics.
• Rise of 5G Networks: GaN is increasingly in demand in 5G multi-chip modules since these networks need to be more energy efficient. As a result, a number of semiconductor firms are working to include GaN into 5G multi-chip modules. GaN used in multi-chip modules to boost efficiency.

Regional Insights

In 2023, North America dominated the GaN semiconductor devices market with the largest share.  This is mainly due to the rise in demand for semiconductor devices from the defense and aerospace industries. Moreover, the increased demand for power electronics and electric vehicles contributed to the region’s dominance. On the other hand, Asia Pacific is expected to witness the rapid growth during the projected period. Countries like China and Japan are among the top makers of consumer electronics in the region, including LED display devices, smartphones, and game consoles. Moreover, rising need for advanced communication equipment boosts the regional market growth.

GaN Semiconductor Devices Market Coverage

Major Key Players

• Cree, Inc.
• Efficient Power Conversion Corporation
• Fujitsu Ltd.
• GaN Systems
• Infineon Technologies AG
• NexgenPowerSystems
• NXP Semiconductor
• Qorvo, Inc.
• Texas Instruments Incorporated
• Toshiba Corporation

Market News

• In May 2024, Infineon Technologies, Germany’s largest semiconductor manufacturer, unveiled CoolGaN transistor built on 8-inch foundry processes.
• In June 2024, Cambridge GaN Devices unveiled its latest GaN power IC packages with enhanced thermal performance for data centers, inverters, and simplified inspection.

Market Segmentation:

By Product

• GaN Radio Frequency Devices
• Opto-semiconductors
• Power Semiconductors

By Component

• Transistor
• Diode
• Rectifier
• Power IC
• Others

By Wafer Size

• 2-inch
• 4-inch
• 6-inch
• 8-inch

By End Use

• Automotive
• Consumer Electronics
• Defense & Aerospace
• Healthcare
• Industrial & Power
• Information & Communication Technology
• Others

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