Gallium Nitride Semiconductor Device Market Share, Future Scope, Forecast to 2026

The Gallium Nitride (GaN) Semiconductor Devices market is projected to grow at a significant rate in the coming years, according to a report by MarketsandMarkets. The report "Gallium Nitride (GaN) Semiconductor Materials and Devices Market by Device Type (Opto, Power, RF), Wafer Size, Application, Vertical, and Geography - Global Forecast to 2023", analyzes the market size, growth rate, and trends in the industry.

Gallium Nitride Semiconductor Device Market is expected to reach USD 24.9 billion by 2026 from an estimated USD 20.4 billion in 2022 at a CAGR of 5.2% during the forecast period.

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GaN is a wide-bandgap semiconductor devices that has several advantages over traditional silicon-based semiconductors, including higher electron mobility, higher breakdown voltage, and better thermal conductivity. GaN-based devices are used in a wide range of applications, including power electronics, optoelectronics, and radio frequency (RF) devices.

The GaN semiconductor devices market is driven by the increasing demand for energy-efficient devices, the growing adoption of GaN-based devices in the automotive and consumer electronics industries, and the increasing use of GaN-based devices in power electronics applications.

The report segments the market based on device type, wafer size, application, vertical, and geography. Based on device type, the market is segmented into opto, power, and RF devices. Power devices are expected to hold the largest share of the market during the forecast period, owing to their increasing use in power electronics applications.

Based on wafer size, the market is segmented into 2-inch, 4-inch, 6-inch, and 8-inch wafers. 8-inch wafers are expected to hold the largest share of the market during the forecast period, owing to their increasing use in high-power applications.

Based on application, the market is segmented into power supplies, inverters, RF devices, lighting and laser, and others. Power supplies are expected to hold the largest share of the market during the forecast period, owing to their increasing use in electric vehicles and renewable energy systems.

Based on vertical, the market is segmented into automotive, consumer electronics, telecommunications, aerospace and defense, and others. Consumer electronics are expected to hold the largest share of the market during the forecast period, owing to the increasing use of GaN-based devices in smartphones, laptops, and other electronic devices.

Geographically, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific is expected to hold the largest share of the market during the forecast period, owing to the increasing adoption of GaN-based devices in various industries in the region.