Gallium Nitride Semiconductor Devices Global Market Opportunities and Strategies to 2031

The global gallium nitride semiconductor devices market reached a value of nearly $6,244.83 million in 2021, having grown at a compound annual growth rate (CAGR) of 10.0% since 2016. The market is expected to grow from $6,244.83 million in 2021 to $12,411.43 million in 2026 at a rate of 14.7%. The market is then expected to grow at a CAGR of 11.4% from 2026 and reach $21,257.87 million in 2031.

Growth in the historic period resulted from increased government funding, emerging markets growth, increasing demand for semiconductor equipment, increased usage in automotives, increasing demand for consumer electronics. Factors that negatively affected growth in the historic period were COVID 19 impact, trade conflicts between major countries.

Going forward, rising use of GaN-based components in defense industry, high proliferation of electric vehicles, increased venture capital funding, rising urbanization and increasing demand for portable electronic devices (PED). Factors that could hinder the growth of the gallium nitride semiconductor devices market in the future include fluctuating price of raw materials and restrictions on export of semiconductor equipment.

The gallium nitride semiconductor devices market is segmented by component into transistor, diode, rectifier, power IC. The transistor market was the largest segment of the gallium nitride semiconductor devices market segmented by component, accounting for 35.2% of the total in 2021. Going forward, the transistor segment is expected to be the fastest-growing segment in the gallium nitride semiconductor devices market, at a CAGR of 15.6% during 2021-2026.

The gallium nitride semiconductor devices market is also segmented by device type into opto-semiconductors, power semiconductors, RF semiconductors. The opto-semiconductors market was the largest segment of the gallium nitride semiconductor devices market segmented by device type, accounting for 41.5% of the total in 2021. Going forward, the opto-semiconductors segment is expected to be the fastest-growing segment in the gallium nitride semiconductor devices market, at a CAGR of 16.0% during 2021-2026.

The gallium nitride semiconductor devices market is also segmented by application into automotive, consumer electronics, defense and aerospace, healthcare, industrial and power, information and communication technology and other applications. The automotive market was the largest segment of the gallium nitride semiconductor devices market segmented by application, accounting for 25.4% of the total in 2021. Going forward, the information and communication technology segment is expected to be the fastest-growing segment in the gallium nitride semiconductor devices market, at a CAGR of 15.9% during 2021-2026.

The gallium nitride semiconductor devices market is also segmented by wafer size into 2 inch, 4 inch, 6 inch and 8 inch. The 4-inch market was the largest segment of the gallium nitride semiconductor devices market segmented by wafer size, accounting for 37.6% of the total in 2021. Going forward, the 6-inch segment is expected to be the fastest-growing segment in the gallium nitride semiconductor devices market, at a CAGR of 16.3% during 2021-2026.

The North America was the largest region in the global gallium nitride semiconductor devices market, accounting for 34.3% of the total in 2021. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the gallium nitride semiconductor devices market will be Asia-Pacific, and North America, where growth will be at CAGRs of 17.9% and 14.9% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 13.9% and 13.7% respectively.

The global gallium nitride semiconductor devices market is highly fragmented, with a large number of players. The top ten competitors in the market made up to 57.46% of the total market in 2021. Texas Instruments Incorporated was the largest competitor with 11.25% share of the market, followed by Toshiba Corporation with 9.90%, Infineon Technologies AG with 8.24%, Fujitsu Limited with 8.18%, NXP Semiconductors N.V. with 5.31%, ams-OSRAM AG with 4.34%, Wolfspeed Inc with 4.18%, Qorvo, Inc. with 3.72%, Panasonic Holdings Corporation with 1.64%, and NTT Advanced Technology Corporation with 0.69%.

The top opportunities in the gallium nitride semiconductor devices market segmented by component will arise in the transistor market segment, which will gain $2,336.87 million of global annual sales by 2026. The top opportunities in the gallium nitride semiconductor devices market segmented by device type will arise in the opto-semiconductors industry segment, which will gain $2,838.91 million of global annual sales by 2026. The top opportunities in the gallium nitride semiconductor devices market segmented by application will arise in the automotive segment, which will gain $1,645.12 million of global annual sales by 2026. The top opportunities in the gallium nitride semiconductor devices market segmented by wafer size will arise in the 6-inch segment, which will gain $2,158.98 million of global annual sales by 2026. The gallium nitride semiconductor devices market size will gain the most in USA at $1,472.33 million.

Market-trend-based strategies for the gallium nitride semiconductor devices market include GaN 5G multi-modules, product innovation, technological advancement, application in electric vehicles (EVs) and hybrid EVs and increasing investment in semiconductor market.

Player-adopted strategies in the gallium nitride semiconductor devices market include product innovations, launching new products and solutions and strategic partnerships and collaborations.

To take advantage of the opportunities, the publisher recommends the gallium nitride (GaN) semiconductor devices companies to focus on GaN in 5G multi-chip modules, focus on product innovation, increase focus on technological advancement, expand in emerging markets, focus on strategic partnerships, offer competitive pricing, participate in trade shows and events and continue to target fast-growing applications.

This report describes and explains the gallium nitride semiconductor devices market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.