GaN semiconductors are used in applications requiring high power-switching, high efficiency energy conversion and low energy consumption. They offer several advantages like high breakdown electric field, high electron mobility and high electron saturation velocity over other substrates.
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 26% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the Global Gan Semiconductor Market Size is increasing demand for fast charging technology. GaN technology allows faster charging speeds while improving efficiency. Mobile devices, electric vehicles and other consumer electronic products are witnessing increasing demand for fast charging capabilities which is boosting adoption of GaN semiconductors. Manufacturers are focusing on developing more efficient and reliable GaN power devices to enable 100W and above fast charging solutions.
SWOT Analysis
Strength: Gan has wide bandgap making it suitable for high power applications. Its high electron mobility allows for high-frequency operations.
Weakness: Cost of manufacturing Gan devices is still quite high due to lack of bulk crystal growth technology. Reliability issues exist due to defect-prone growth process.
Opportunity: Growing demand for high-frequency power electronics in 5G infrastructure and electric vehicles present a major opportunity. Increased efficiency and miniaturization possible with Gan power devices.
Threats: Established rivals like Silicon and Silicon Carbide have significant incumbent advantage. Yield and volume production issues could slow down commercialization.
Key Takeaways
The global Gan semiconductor market is expected to witness high growth, exhibiting CAGR of 26% over the forecast period, due to increasing demand for energy efficient power electronics. Gan’s properties allow it to replace legacy materials in many applications requiring higher power, frequency and temperature capabilities.
Regional analysis:
North America currently dominates the market due to presence of major players and growing investments in R&D. Asia Pacific is expected to grow at the fastest pace owing to massive electronics manufacturing capabilities and government support for wide bandgap semiconductor development in countries like China and South Korea.
Key players operating in the Gan semiconductor market are Infineon Technologies AG, Cree, Inc., Qorvo, Inc., and Efficient Power Conversion Corporation (EPC). As the market matures, competition is increasing amongst these players. In 2023, the market size is projected to reach US$ 3.36 Billion indicating promising future growth opportunities. Efforts are ongoing to lower production costs through yield improvements and scaled-up manufacturing.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
