The global GaN semiconductor market is gaining significant traction owing to strong application in electric vehicles. GaN semiconductors are more efficient and compact than silicon or gallium arsenide enabling smaller and more powerful chargers. They allow for fast charging capabilities that help accelerate the adoption of electric vehicles.
The global GaN Semiconductor Market is estimated to be valued at US$ 3.36 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the GaN semiconductor market is its increasing adoption in electric vehicles. GaN semiconductors offer numerous advantages over Silicon such as higher switching frequency, higher breakdown voltage and lower on-resistance. This enables more compact and efficient electric vehicle charging infrastructure. As electric vehicles continue to penetrate mainstream automobile markets around the world, the need for improved and widespread fast charging networks is growing. GaN semiconductors are one of the enabling technologies powering this transition. Their superior characteristics allow for smaller and lighter automotive chargers with higher power density. This helps support the development of more ultra-fast charging stations along highways and streets, alleviating range anxiety among electric vehicle users. The growth of the electric vehicle market worldwide will consequently fuel demand for GaN semiconductors in the coming years.
Segment Analysis
The global GaN semiconductor market is dominated by the radio frequency and wireless infrastructure segment. This segment accounted for approximately 35% of the total market share in 2023. The rapid growth of 5G infrastructure and increasing number of telecom towers globally is driving the demand for GaN power semiconductors in this segment. GaN offers higher efficiency and frequency capabilities compared to other competing technologies. This helps reducing operating costs for telecom operators and improving network capacity.
Key Takeaways
The Global Gan Semiconductor Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 supported by the increasing demand for energy efficient power electronics solutions.
Regional analysis - Asia Pacific region currently dominates the global GaN semiconductor market with a share of over 40% in 2023. China, Japan, South Korea and India are major countries contributing to the regional market growth. This can be attributed to presence of established players and growing consumer electronics industry in these countries.
Key players operating in the GaN semiconductor market are Immersion, Texas Instruments Incorporated, Precision Microdrives Limited, Johnson Electric Holdings Limited, AAC Technologies, Analog Devices, Inc., ALPS ALPINE CO., LTD., Microchip Technology Inc., Cypress Semiconductor Corporation, Methode Electronics, NIDEC COPAL ELECTRONICS, SMK ELECTRONICS CORPORATION U.S.A, Visteon Corporation, Semiconductor Components Industries, LLC, Synaptics Incorporated, Apple Inc., and SAMSUNG.
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