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Gallium Nitride (GaN) Semiconductor Devices Market Report | Gallium Nitride (GaN) Semiconductor Devices Market

The global gallium nitride (GaN) semiconductor devices market is expected to reach 2,967.1 million in 2024, at a CAGR of 14.2%. Factors driving the growth of the market are; increasing demand for power efficient electronic devices, rapid advancements in technology, growing application of semiconductor devices in various end-use industries, and rising investments in R&D by major semiconductor manufacturing companies. Moreover, rapid adoption of automated devices and increasing usage of the wireless charging are further propelling the market growth. Robots in healthcare sector with Gallium Nitride components have the ability to conduct delicate surgeries, which is expected to fuel the demand over the forecast period. Moreover, the potential usage of GaN in 5G infrastructure is also expected to propel the market growth over the forecast period. However, high production cost of GaN devices may restrain the market growth to some extent.

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