Global Gallium Nitride Semiconductor Devices Market Size & Outlook
The gallium nitride semiconductor devices industry worldwide is expected to reach a projected revenue of US$ 12,470.2 million by 2030. A compound annual growth rate of 25.4% is expected of the worldwide gallium nitride semiconductor devices industry from 2024 to 2030.
Revenue, 2023 (US$M)
$2,558.6
Forecast, 2030 (US$M)
$12,470.2
CAGR, 2024 - 2030
25.4%
Report Coverage
Worldwide
Global gallium nitride semiconductor devices market, 2018-2030 (US$M)
Related Markets
Global gallium nitride semiconductor devices market highlights
- The global gallium nitride semiconductor devices market generated a revenue of USD 2,558.6 million in 2023 and is expected to reach USD 12,470.2 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 25.4% by 2030.
- In terms of segment, power semiconductors accounted for a revenue of USD 937.2 million in 2023.
- GaN Radio Frequency Devices is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 2,558.6 million |
| Market revenue in 2030 | USD 12,470.2 million |
| Growth rate | 25.4% (CAGR from 2023 to 2030) |
| Largest segment | Power semiconductors |
| Fastest growing segment | GaN Radio Frequency Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | GaN Radio Frequency Devices, Opto-semiconductors, Power Semiconductors |
Other key industry trends
- In terms of revenue, the North America accounted for 34.1% of the global gallium nitride semiconductor devices market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Brazil is the fastest growing regional market and is projected to reach USD 178.4 million by 2030.
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Gallium Nitride Semiconductor Devices Market Scope
Gallium nitride semiconductor devices market segmentation & scope
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Gallium Nitride Semiconductor Devices Market Companies
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Global gallium nitride semiconductor devices market size, by regions, 2018-2030 (US$M)
Top 10 countries: Gallium nitride semiconductor devices market size, 2023 (US$M)
Global gallium nitride semiconductor devices market share, by product, 2023 & 2030 (%, US$M)
Gallium nitride semiconductor devices market: Opportunity assessment by country
Global gallium nitride semiconductor devices market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 419.9 | 484.0 | 554.3 | 635.9 | 738.3 | 872.8 | 1,047.5 | 1,279.9 | 1,588.4 | 2,019.4 | 2,592.0 | 3,355.1 | 4,382.3 | 25.9% |
| Europe | 344.0 | 392.1 | 443.7 | 503.2 | 577.3 | 674.7 | 800.4 | 966.6 | 1,185.1 | 1,488.8 | 1,888.7 | 2,415.6 | 3,117.3 | 24.4% |
| Asia Pacific | 284.9 | 333.8 | 388.3 | 452.7 | 534.1 | 641.6 | 782.5 | 971.5 | 1,218.6 | 1,570.4 | 2,046.1 | 2,683.1 | 3,550.0 | 27.7% |
| Latin America | 118.5 | 132.9 | 148.1 | 165.3 | 186.8 | 214.8 | 250.9 | 298.3 | 357.4 | 440.4 | 549.0 | 687.7 | 868.9 | 22.1% |
| MEA | 90.7 | 101.2 | 111.9 | 123.4 | 137.2 | 154.7 | 176.2 | 203.2 | 247.9 | 301.1 | 362.4 | 446.2 | 551.7 | 19.9% |
| Overall | 1,258.0 | 1,444.0 | 1,646.3 | 1,880.5 | 2,173.7 | 2,558.6 | 3,057.5 | 3,719.5 | 4,597.4 | 5,820.1 | 7,438.2 | 9,587.7 | 12,470.2 | 25.4% |
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