Asia Pacific Gallium Nitride Semiconductor Devices Market Size & Outlook
Asia Pacific gallium nitride semiconductor devices market, 2018-2030 (US$M)
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Asia Pacific gallium nitride semiconductor devices market highlights
- The Asia Pacific gallium nitride semiconductor devices market generated a revenue of USD 641.6 million in 2023.
- The market is expected to grow at a CAGR of 27.7% from 2024 to 2030.
- In terms of segment, power semiconductors was the largest revenue generating product in 2023.
- GaN Radio Frequency Devices is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 641.6 million |
| Market revenue in 2030 | USD 3,550.0 million |
| Growth rate | 27.7% (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 |
| Key market players worldwide | SMART Global Holdings Inc, Fujitsu Ltd, Infineon Technologies AG, NexGen Energy Ltd, NXP Semiconductors NV, Qorvo Inc, Texas Instruments Inc, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 25.1% of the global gallium nitride semiconductor devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,550.0 million by 2030.
Power semiconductors was the largest segment with a revenue share of 35.55% in 2023. Horizon Databook has segmented the Asia Pacific gallium nitride semiconductor devices market based on gan radio frequency devices, opto-semiconductors, power semiconductors covering the revenue growth of each sub-segment from 2018 to 2030.
Technological development in the Asia Pacific region has led to a surge in the demand for efficient and high-performance RF components, resulting in an increased demand for the GaN-based power and optoelectronics. The South Asian region has been instrumental in the manufacturing and design of semiconductors and semiconductor devices.
Countries such as China, South Korea, and Taiwan are expected to become major manufacturing hubs for these devices over the forecast period. Owing to an increasing population, growing usage of technology, and rapid adoption of electronic devices, the consumer electronics segment in the region is expected to grow at a substantial rate over the next decade.
This, in turn, would act as a major contributor to the growth of the semiconductor devices in the region. Furthermore, as the gallium nitride semiconductor devices witness an increased adoption in consumer electronic devices such as LED displays, TVs, and lighting, the demand for these devices is anticipated to surge in the latter part of the forecast period.
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Gallium Nitride Semiconductor Devices Market Scope
Gallium Nitride Semiconductor Devices Market Companies
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Asia Pacific gallium nitride semiconductor devices market size, by country, 2018-2030 (US$M)
Asia Pacific Gallium Nitride Semiconductor Devices Market Outlook Share, 2023 & 2030 (US$M)
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