Elettronica
Wide Bandgap Semiconductor Market to Reach $5.4 Billion, Globally, by 2032 at 13.2% CAGR: Allied Market Research
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The wide bandgap semiconductor market is expanding at a robust rate, driven by the growing use of these advanced materials in wearable technology, the expanding semiconductor industry, and increased private spending on technical R&D for Internet of Things (IoT) applications. The pattern changes in consumer preferences from traditional batteries to wide bandgap semiconductors such as silicon carbide (SiC) and gallium nitride (GaN)—due to these materials' numerous benefits, is a major driver of market demand. One of the main factors propelling the worldwide market expansion is the growing awareness of the advantages of wide bandgap semiconductors, which are distinguished by their high energy density and enhanced working temperature range.
Based on material, the button batteries segment held the highest market share in 2022, accounting for nearly half of the global revenue and is estimated to maintain its leadership status throughout the forecast period, SiC is frequently utilized in power electronics components such as junction field-effect transistors (JFETs), metal-oxide-semiconductor field-effect transistors (MOSFETs), and Schottky diodes. In addition, the same segment is projected to manifest the highest CAGR of 13.84% from 2023 to 2032.
Based on application, the consumer electronics segment held the highest market share in 2022, accounting for more than one-third of the global wide bandgap semiconductor market revenue and is estimated to maintain its leadership status throughout the forecast period, due to the growing need for small and portable electronics. In addition, the same segment is projected to manifest the highest CAGR of 14.02% from 2023 to 2032.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than half of the global wide bandgap semiconductor market revenue. This region is expected to witness the fastest CAGR of 13.96% from 2023 to 2032. The growth is primarily attributed to the high need for consumer electronics in the wide bandgap semiconductor market. As a centre of technology, the area has seen a rise in the use of small, effective power sources to sustain a wide range of portable electronics, such as wearables, smartphones, and other electronic devices.
The report provides a detailed analysis of these key players of the global wide bandgap semiconductor market. These players have adopted different strategies such as product development and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
is projected to reach $347 billion by 2031, growing at a CAGR of 11.6% from 2022 to 2031
is projected to reach $7.05 billion by 2030, registering a CAGR of 27.1% from 2021 to 2030.
is projected to reach $231.5 billion by 2032, growing at a CAGR of 8.1% from 2023 to 2032.
is projected to reach $1,033.5 billion by 2031, registering a CAGR of 6.21% from 2022 to 2031.
: Global Opportunity Analysis and Industry Forecast, 2023-2032
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