Market and Technology Analysis Report on SiC and GAN Semiconductor Devices - 2023SiC revenues to reach 70 Billion and GAN to reach 2.8 Billion by 2030
Compound semiconductors such as Silicon Carbide and Gallium Nitride offer natural Moore's Law like benefit over silicon in power semiconductor switching applications. They take less space, reduce power consumption, produce less heat and increase speed compared to silicon. Due to these inherent advantages they offer they are fast replacing Silicon MOSFETs and IGBT in all kinds of semiconductor applications from low-power to high-power.
Both Silicon Carbide and Gallium Nitride market is estimated to grow very fast compared to other segments. The silicon Carbide's market is estimated to reach US$ 70 billion by 2030 at a CAGR of 25% from 2023. The Gallium Nitride (GaN) market to reach a market of 2.8 billion dollars and estimated to grow at CAGR of 26% from 2022 to 2030. Typically Gallium Nitride is applied in a low-power and low voltage areas whereas silicon Carbide used in high-power and high voltage switching applications. Electric vehicles is big market for silicon Carbide whereas AC/DC adapters used in consumer and smart phones is big market for gallium nitride.
The four leading vendors in Silicon Carbide market include STMicroelectronics, On semiconductor, Toshiba and Infineon. In the Gallium Nitride market Transphorm, EPC, Qorvo are some of the leading vendors.
The key trends in this industry include
Material/wafer supply agreement
End market agreements
Consolidation of vendors
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