GaN Semiconductor Devices Market To Reach USD 4490.5 Million By 2029, Witnessing A CAGR of 23.3% | Valuates Reports
The global GaN Semiconductor Devices market was valued at USD 1011.1 million in 2022 and is anticipated to reach USD 4490.5 million by 2029, witnessing a CAGR of 23.3% during the forecast period 2023-2029.
- The global GaN Semiconductor Devices market was valued at USD 1011.1 million in 2022 and is anticipated to reach USD 4490.5 million by 2029, witnessing a CAGR of 23.3% during the forecast period 2023-2029.
- One of the main reasons influencing the GaN Semiconductor Devices market growth is the ongoing development of technologies in the GaN ecosystem, as well as the applicability of GaN semiconductor devices for RF applications.
- Uses in electric and hybrid vehicles, and growth in the communication and healthcare industries are expected to further influence the GaN Semiconductor Devices market.
- The GaN Semiconductor Devices market is primarily driven by the RF semiconductor device industry, which has enormous demand.