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The Rising Use of GaN Systems In Defense And Aerospace Will Drive The Gallium Nitride Semiconductor Devices Market - By The Business Research Company
The global gallium nitride semiconductor devices market size is expected to increase from $6.24 billion in 2021 to $7.00 billion in 2022 at a compound annual growth rate (CAGR) of 12.13%. The Russia - Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The gallium nitride semiconductor devices market is expected to reach $12.41 billion in 2026 at a CAGR of 15.38%.
GaN in 5G multi-chip modules is a trend gaining popularity in gallium nitride semiconductor devices market. GaN is used in multi-chip modules to boost lineup efficiency because lowering energy consumption is a primary concern for telecom infrastructure. Multichip modules (MCMs) are hybrid microcircuit extensions with increased electrical performance and density. Mobile network operators can reduce the cost of putting 5G on cell towers and rooftops because the 5G multi-chip modules help reduce the size and weight of radio units. For instance, in June 2021 , NXP Semiconductors NV, a Dutch semiconductor designer and manufacturing company, announced the integration of GaN technology to its multi-chip module platform for 5G energy efficiency.
Texas Instruments Incorporated was the largest competitor in the gallium nitride semiconductor devices market in 2021 with a 11.25% share of the market. Texas Instruments' growth strategy focuses on offering innovative solutions through the launch of new products. For instance, in November 2020 , Texas Instruments launched the next generation of 600-V and 650-V gallium nitride (GaN) field-effect transistors (FETs) for industrial and automotive applications.
North America was the largest region in the gallium nitride semiconductor devices market and was worth $2.13 billion in 2021. The gallium nitride semiconductor devices market in North America is supported by to government initiatives aimed at increasing production of electric vehicles.
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