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5G To Spur Growth Of GaN & SiC Semiconductor Market By 2027

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Rampant development and roll out of 5G technology around the globe will offer new growth prospects to GaN and SiC power semiconductor manufacturers. These semiconductors are known for providing small form factor and high-power density, hastening their adoption whilst telecom operators augment infrastructure development. According to a study conducted by Global Market Insights, the GaN & SiC power semiconductor market is projected to surpass USD 4.5 billion by 2027. Constant initiatives taken by governments for adopting 5G technology will drive the expansion of the industry.

Technological innovations within SiC power modules due to the incorporation of dedicated chipsets and IC could decrease device footprint and raise energy efficiency, which is likely to propel their demand in smart grid applications and smart energy meters. Additionally, the industrial motor drive segment is expected to witness high product demand given to growing trends of industrial automation robots and machinery.

The discrete GaN category accounted for around 2% industry share in 2020 and is projected to register a CAGR of around 40% over the forecast timeframe. Discrete GaN power semiconductors provide low cost advantages and have wide band gap, hence escalating their demand in charging applications in consumer electronics devices.

GaN & SiC power semiconductor devices help in increasing power density and in minimizing the size of passive components, which is driving their usage in PV inverters. The PV inverters application segment held above 25% of the market share in 2020 and is likely to grow at a 30% CAGR over the forecast timeframe owing to surging consumer preference towards clean electricity.

Based on region, the Europe GaN & SiC power semiconductor market was valued at over USD 100 million in 2020 and is projected to grow at a 25% CAGR during the forecast period. Rising favorable initiatives taken by the government to accelerate electric vehicle adoption are expected to boost the regional growth in the estimated timeframe. In March 2021, the German government announced to offer USD 6.5 billion funding for electric vehicle charging infrastructure. Such initiatives will provide an additional opportunity to regional players operating in the industry.

The key players operating in the GaN & SiC power semiconductor market include Fuji Electric Co., Ltd, Alpha and Omega Semiconductors, Mitsubishi Electric Corp., Microsemi Corp., Infineon Technologies AG, and Diodes Inc., among others. The major players are focusing on taking strategic initiatives like mergers, acquisitions, and partnerships for staying competitive in the market. In June 2020, ROHM announced its partnership with Vitesco Technologies to deliver SiC components to Vitesco to increase the efficiency of power electronics in electric vehicles. This partnership is expected to aid the company in strengthening its market position of SiC power solutions in EV applications.



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