Gallium Nitride Semiconductor Device Market Worth $24.9 Billion by 2026

Northbrook, IL -- (SBWIRE) -- 06/13/2021 -- According to the new market research report "Gallium Nitride Semiconductor Device Market with COVID-19 Impact Analysis by Device Type (RF, Power, Opto), Wafer Size, Application, Vertical (Consumer and Enterprises, Automotive, Telecommunications), and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the market is projected to reach USD 24.9 billion by 2026, at a CAGR of 5.2% between 2021 to 2026. The global GaN semiconductor device market will grow to USD 24.9 billion by 2026 (forecast year) from USD 19.4 billion in 2021 (estimated year), at a CAGR of 5.2% between 2021 to 2026. The key drivers fueling the growth of this market include the wide gap property of GaN material facilitating innovative applications, success of GaN in RF power electronics, and the increasing adoption of GaN RF semiconductor devices for defense and aerospace applications.