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Gallium Nitride Power Device Market To Surpass US$ 1,039.3 Mn By 2030

Gallium Nitride Power Device Market To Surpass US$ 1,039.3 Mn By 2030 - Coherent Market Insights

Publish In: May 11, 2023

Global Gallium Nitride Power Device Market Introduction

Market Statistics:

The Global Gallium Nitride Power Device Market is estimated to account for US$ 178.3 Mn in terms of value by the end of 2022. An automotive scan tool used to interface with, diagnose and, sometimes, reprogram vehicle control modules. These tools help upgrade and reprogram vehicles control modules. On the basis of technology, these products include, handheld mobile device/pc/laptop based scan tools, data loggers, emission testing, vehicle telematics, and supplementary vehicle instrumentation.

Global Gallium Nitride Power Device Market: Drivers

The market for GaN power devices has been driven by increasing adoption in the telecommunications industry, rising need for GaN in radio frequency equipment, and soaring demand for AC fast chargers, LiDAR, and wireless power. These devices also have additional benefits than silicon-based ones. However, the market growth is constrained by the preference for silicon carbide (SiC) in high-voltage semiconductor applications. On the other hand, the need for GaN power devices in electric and hybrid vehicles opens up new business potential for the market's players.

Global Gallium Nitride Power Device Market: Restraints

Lack of skilled professional

Due to the capital-intensive nature of materials and production processes, the high cost of systems integrating gallium nitride components is anticipated to restrain market expansion. Additionally, GaAs components are frequently utilized in low noise amplifiers (LNA) and small signal monolithic microwave integrated circuits (MMIC). The widespread use of gallium nitride semiconductors is anticipated, although this will take some time because of the high cost. This is one of the primary growth hurdles.

Global Gallium Nitride Power Device Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 epidemic has had a significant influence on several industries throughout the world, including the automotive industry. Regular lockdown measures have shut down industrial activities, which has hampered the production of new cars, especially in developing markets like China. The disruption of many vehicle manufacturers' supply chains has had a significant impact on market expansion. As a result, the sales of electronic products have been reduced and supply chains have been disrupted. Moreover, many economies are suffering from a significant revenue loss as manufacturing units are shut down due to lockdowns. The overall situation adversely affected the demand for Gallium Nitride (GaN) semiconductor devices in 2020 & 2021.

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Key Takeaways:

The global Gallium Nitride Power Device Market was valued at US$ 178.3 Mn in 2022 and is forecast to reach a value of US$ 1,039.3Mn by 2030 at a CAGR of 24.65% between 2023 and 2030.

Telecommunication segment held dominant position in the global Gallium Nitride Power Device Market in 2022, accounting for 33.4% share in terms of value, increasing demand and production is expected to propel growth of the segment during the forecast period.

Global Gallium Nitride Power Device Market: Competitive Landscape   

Cree Inc., Efficient Power Conversion (EPC) Corporation, Infineon Technologies, GaN Systems Inc., Macom, Microsemi Corporation, Mitsubishi Electric Corporation, Navitas Semiconductor, Qorvo, Inc., and Toshiba Electronic Devices & Storage Corporation.

Global Gallium Nitride Power Device Market: Recent Developments

  • In November 2021, Transphorm and Weltrend Semiconductor Partner to Release Integrated GaN System-in-Packagehe global leader in adapter USB Power Delivery (PD) Controller Integrated Circuits (ICs), today announced the release of their first GaN System-in-Package (SiP).
  • In September 2022, Fujitsu Limited, Japanese technology company announced a thorough overhaul to strengthen its modernization services offerings (DX). To design the appropriate DX platform, Fujitsu will collaborate with clients to visualize their current assets, including business processes, data, applications, and IT infrastructure. It will also offer assistance in streamlining and modernizing systems

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