Gallium Nitride Market Outlook 2037

The global gallium nitride market was valued at USD 1.0 billion in 2024 and is anticipated to reach USD 29.5 billion by 2037, expanding at a CAGR of 29.7% during the forecast period (2025-2037). In 2025, the market size is expected to reach USD 1.2 billion, due to an increasing demand for high-efficiency power electronics and miniaturized devices worldwide. GaN’s superior material properties - such as wide bandgap, higher electron mobility, and high breakdown voltage - make it a top choice for next-gen semiconductors. With an increasing number of consumer devices requiring fast charging, electrification of transport and growth of data centers provide great opportunities for GaN integration. Furthermore, increasing demand for green energy and low carbon emission is fueling the use of GaN-based power converters in solar and wind power systems. Recent trends in GaN technology, particularly GaN-on-Si, are lowering costs and making the technology more scalable. GaN is a material that has the potential to revolutionize industries that are in pursuit of high power, high frequency, and compact size.