According to Fortune Business Insights the global gallium nitride device market was valued at USD 20.56 billion in 2019 and is projected to grow from USD 21.18 billion in 2020 to USD 39.74 billion by 2032, registering a compound annual growth rate (CAGR) of 5.20% during the forecast period from 2020 to 2032. In 2019, North America dominated the GaN device market, holding a significant 35.89% share.
The gallium nitride device market is witnessing strong growth driven by the rising demand for high-performance, energy-efficient semiconductor solutions. GaN technology stands out for its exceptional attributes, including high power density, excellent thermal efficiency, and rapid switching capabilities. These features make it highly suitable for use in emerging applications such as 5G infrastructure, electric vehicles, renewable energy systems, and aerospace.
The expanding adoption of GaN in both power electronics and radio frequency (RF) devices is further fueling market expansion. Advances in GaN-on-Silicon (GaN-on-Si) manufacturing techniques and the integration of GaN into advanced packaging solutions are helping reduce production costs, thereby increasing its accessibility across various industries. Additionally, supportive government policies promoting energy-efficient technologies and the rising use of GaN devices in consumer electronics are contributing to the market’s continued growth.