Latin America Gallium Nitride Semiconductor Devices Market Size & Outlook
Latin America gallium nitride semiconductor devices market, 2018-2030 (US$M)
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Latin America gallium nitride semiconductor devices market highlights
- The Latin America gallium nitride semiconductor devices market generated a revenue of USD 214.8 million in 2023.
- The market is expected to grow at a CAGR of 22.1% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 214.8 million |
| Market revenue in 2030 | USD 868.9 million |
| Growth rate | 22.1% (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, Latin America region accounted for 8.4% 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 39.57% in 2023. Horizon Databook has segmented the Latin America 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.
The Latin America region is expected to witness steady growth over the forecast period owing to the lower proliferation of advanced semiconductor devices in the region. The market growth in the region would be aided by niche applications including high density, high frequency, and high temperature end-uses.
Furthermore, the decline in the usage of silicon-based semiconductors is also expected to aid the market growth as gallium nitride devices would act as better and more efficient replacements for the existing devices.
However, the higher cost of gallium nitride-based semiconductors may act as an impediment to the market growth for the next couple of years. The increasing use of GaN semiconductor devices in consumer electronics such as lighting and LED displays is also expected to play an important role in near term whereas long term usage will include more specific applications such as military and defense projects.
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Gallium Nitride Semiconductor Devices Market Scope
Gallium Nitride Semiconductor Devices Market Companies
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Latin America gallium nitride semiconductor devices market size, by country, 2018-2030 (US$M)
Latin America Gallium Nitride Semiconductor Devices Market Outlook Share, 2023 & 2030 (US$M)
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