PUBLISHER: Allied Market Research | PRODUCT CODE: 1414757
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414757
According to a new report published by Allied Market Research, titled, "Wide Bandgap Semiconductors Market," The wide bandgap semiconductors market was valued at $1.6 billion in 2022, and is estimated to reach $5.4 billion by 2032, growing at a CAGR of 13.2% from 2023 to 2032.
The range of materials known as wide bandgap semiconductors have a broad energy bandgap, or the energy difference between the lowest energy band that can accommodate electron movement in the conduction band and the highest energy band that is inhabited by electrons in the valence band. These materials differ from conventional semiconductors like silicon, which have narrower bandgaps, in that they have a broad bandgap.
The need for high-performance and energy-efficient electronic devices is driving revolutionary developments in the wide bandgap semiconductor industry. At the vanguard of innovation are silicon carbide (SiC) and gallium nitride (GaN), which have several uses in power electronics, electric cars, 5G infrastructure, and renewable energy systems. Around the world, wide bandgap semiconductors are becoming more and more popular as industries place a higher priority on sustainability and efficiency. The current trends include partnerships that promote technological integration, improvements in manufacturing techniques for increased yields, and a persistent drive to realise the whole potential of these semiconductors in transforming the field of contemporary electronics.
Gallium nitride (GaN) and silicon carbide (SiC) are common wide bandgap semiconductor materials. These materials are appropriate for applications that call for high-power and high-frequency electronic devices because of their larger bandgap, which allows them to function at greater temperatures and voltages. Applications for wide bandgap semiconductors include power electronics, radiofrequency (RF) equipment, LED lighting, electric cars, and renewable energy sources. Their special qualities support better performance, more energy efficiency, and technological growth in several application areas.
The wide bandgap semiconductor market is segmented into material, application, battery type, and region. By material, the market is classified into silicon carbide (SiC), gallium nitride (GaN), diamond, and others. By industry vertical, it is bifurcated into consumer electronics, automotive, aerospace and defense, IT and telecom, energy and utility, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
Region wise, the wide bandgap semiconductor market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competitive analysis and profiles of the major global wide bandgap semiconductor market players that have been provided in the report include Infineon Technologies AG, Microsemi Corporation, STMicroelectronics, Maxell Ltd., ROHM Semiconductor, Texas Instruments Inc., Vishay Intertechnology Inc., Panasonic Corporation, Genesic semiconductor, Nexperia and Wolfspeed, Inc. The key strategies adopted by the major players of the wide bandgap semiconductor market are product launch.
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