Gallium Nitride Semiconductor Devices Market Future Prospects
The gallium nitride semiconductor devices market accounted for USD 26.7 billion revenue in 2024, and it is projected to foster at a CAGR of 18.2% during 2024–2030, to reach USD 72.8 billion by 2030.
The advantages like higher energy efficiency, faster device speed, and lower costs offered by GaN semiconductor devices over silicon semiconductor devices, such as computers, smartphones, televisions, and cameras, are likely to behold the market progress. In addition, the market is likely to be influenced by the increasing number of robot shipments, globally. For instance, the sales of robotic units reached around 600 thousand in 2022 from 500 thousand in 2020.
A key trend observed in the market is the emergence of 5G technology. This new technology for mobile cellular networks is transforming the wireless communication sector. There is an enormous demand for wireless data bandwidth, due to the rising mobile data consumption, which is putting a huge strain on networks for the availability of wireless spectrum.
Mobile data traffic is expected to reach 160 exabytes per month by 2025. To fulfill this growing demand, the sector is looking toward extremely high-frequency bands that could support large bandwidths and high data rates. One such technology is 5G mmWave, which has a frequency band ranging from 24 GHz to 300 GHz. The implementation of the mmWave technology is providing increased coverage, better performance, and seamless connectivity for the rising number of users and networked devices.