Market Research Blog

The global GaN Substrate Market is set to witness substantial growth in the coming decade, driven by the increasing demand for advanced semiconductor technologies across various industries. In 2023, the market is valued at USD 5,420.5 million, up from USD 5,014.3 million in 2022. By 2033, the market is projected to reach a remarkable USD 13,721.9 million, growing at a compound annual growth rate (CAGR) of 9.7% between 2023 and 2033.

The rising demand for gallium nitride (GaN) substrates in applications such as high-power electronics, radio frequency (RF) devices, and optoelectronics is a significant driver of market growth. GaN technology offers superior performance in power efficiency, heat dissipation, and operating frequency compared to traditional semiconductor materials, making it the preferred choice for next-generation devices.

Key Takeaways from the Market Study:

• The global GaN Substrate Market is forecast to grow at a CAGR of 9.7% from 2023 to 2033.
• The market is expected to reach USD 13,721.9 million by 2033, driven by rising demand for high-power and high-frequency devices.
• GaN substrates offer significant advantages over silicon, including better thermal conductivity and energy efficiency.
• Major industries such as telecommunications, automotive, aerospace, and consumer electronics are driving the adoption of GaN substrates for advanced semiconductor applications.

Drivers and Opportunities:

The growing demand for high-efficiency power electronics and RF devices is one of the primary drivers of the GaN Substrate Market. GaN substrates offer superior performance in terms of heat dissipation, power handling, and frequency operation, making them ideal for a wide range of applications, from 5G infrastructure to electric vehicles (EVs) and military radar systems.

In the telecommunications sector, the deployment of 5G networks is a significant growth driver, as GaN-based devices are critical for enabling high-frequency operation and supporting the massive data traffic demands of next-generation communication networks. Similarly, the automotive industry is increasingly adopting GaN technology for EV charging systems and autonomous driving technologies, further fueling market expansion.

Opportunities for growth also exist in the renewable energy sector, where GaN substrates are used in solar inverters and smart grid applications to enhance power conversion efficiency.

Component Insights:

The GaN Substrate Market is segmented by component into GaN on sapphire, GaN on silicon carbide (SiC), GaN on silicon, and freestanding GaN substrates. Among these, GaN on SiC and freestanding GaN substrates are gaining the most traction due to their superior thermal conductivity, which is essential for high-power applications.

GaN on silicon substrates are also witnessing increased demand, particularly in consumer electronics and RF devices, where cost-effectiveness and scalability are critical. As the technology matures, the market is expected to see increased adoption of freestanding GaN substrates, offering enhanced performance in demanding applications such as space and defense.

Application Insights:

The primary applications of GaN substrates span across RF devices, power electronics, optoelectronics, and laser diodes. The power electronics segment holds a significant share of the market due to the widespread use of GaN technology in electric vehicles, industrial power supplies, and solar inverters. The ability of GaN substrates to operate efficiently at higher voltages and temperatures than traditional silicon-based solutions makes them indispensable in these industries.

In the RF device market, GaN is becoming the material of choice for 5G base stations and military radar systems due to its high-frequency capabilities and efficiency in handling large amounts of data traffic. Similarly, in the optoelectronics segment, GaN substrates are crucial for the production of blue and green LEDs and laser diodes, which are used in a variety of consumer electronics and display technologies.

Deployment Insights:

The GaN Substrate Market is categorized into new installations and retrofit solutions. New installations dominate the market as companies increasingly adopt GaN technology for high-performance electronic devices. However, retrofit solutions are also gaining momentum, especially in industrial and automotive applications, where upgrading existing systems with GaN substrates can significantly improve efficiency and performance.

The shift toward sustainable and energy-efficient technologies is pushing industries to deploy GaN-based systems in both new and retrofitted applications, driving demand across all sectors.

Key Companies & Market Share Insights:

The global GaN Substrate Market is highly competitive, with several key players leading innovation and expansion. Major companies in the market include Cree Inc., Sumitomo Electric Industries, Ltd., Mitsubishi Chemical Corporation, II-VI Incorporated, Soitec, and Nitride Semiconductors Co., Ltd.

These companies are investing heavily in research and development to enhance GaN substrate performance and production capabilities. For example, Cree Inc. is focusing on expanding its GaN-on-SiC product line to meet the growing demand for high-power RF and power electronics applications. Similarly, Sumitomo Electric is developing advanced GaN substrates for 5G and EV applications.

Recent Developments:

1. Cree Inc. recently announced a significant expansion of its GaN-on-SiC production capacity to meet the growing demand for 5G infrastructure and electric vehicle power electronics.
2. Sumitomo Electric has made advancements in freestanding GaN substrates, aiming to improve the performance of laser diodes used in optoelectronic applications.
3. II-VI Incorporated is developing next-generation GaN-on-silicon technology, targeting the consumer electronics and RF device markets with cost-effective solutions.
4. Soitec has introduced innovative wafer bonding technologies to enhance the scalability and performance of GaN substrates in power electronics and RF applications.
5. Mitsubishi Chemical Corporation continues to lead in GaN substrate production for the automotive and telecommunications sectors, focusing on high-efficiency solutions for electric vehicles and 5G networks.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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The no-code AI platform market is forecasted to experience a growth of 28.3% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to be valued at USD 4,094.7 million in 2023.The surging establishment of AI enterprises across the world is assessed to positively impact the global market. As the count of domain experts increases, so does the gulf between them and the AI specialists.

AI specialists’ wide knowledge helps domain experts in solving technology-related issues. No-code AI tools are expected to generate new prospects for domain experts to effectively communicate and try out their ideas with AI experts.The significant rate of evolution and utilization of machine learning and AI across the globe are also fueling market growth for the no-code AI platform industry. Moreover, technologies like automated machine learning are gaining traction as they are developed for firms deficient in ML competence.

The adoption of edge computing, IoT, and data science services and solutions has surged across several industries, further cementing market development. If we see comprehensively, no-code AI platforms help in minimizing defects, enhance delivery time, and make data science practical. All these aspects of this platform attract investment opportunities for market expansion.

No-code AI solutions further reduce the entry barrier for enterprises and individuals to start experimenting with machine learning and AI. These solutions empower businesses to quickly and reasonably execute AI models, permitting domain experts to gain from this cutting-edge technology.

Top Highlights from the FMI’s Analysis of the No-code AI Platform Market: 

• North America’s no-code AI platform industry obtained more than 30.4% market share in 2022.
• Europe’s no-code AI platform industry is estimated to fall behind North America in terms of market share, gaining more than 23.4% of market value in 2023.
• The United States’ no-code AI platform industry is expected to procure a market share of above 19.3% in 2023.
• Germany’s no-code AI platform industry is predicted to reach beyond US$ 10.4% in 2023.
• Japan’s no-code AI platform industry is estimated to gain a market share of 4.3% in 2023.
• Australia’s no-code AI platform industry is projected to attain more than 3.1% value share in 2023.
• India’s no-code AI platform industry is anticipated to expand at a CAGR of 32.3% over the forecast period.
• China’s no-code AI platform industry is assessed to register a CAGR of 30.4% in the upcoming period.
• The United Kingdom’s no-code AI platform industry is expected to record a CAGR of 28.1% in the assessment period.
• Under the solution category, the no-code AI tools segment is estimated to gain a market share of more than 64.3% over the estimated period.
• Based on technology, natural language processing gained a 43.3% market share of the global no-code AI platform industry in 2022.

How are Leading Players Scoring New Clients?

Key players in the market are grabbing new clients by innovating and introducing new products. This is followed by embarking on new territories. Additionally, mergers and acquisitions, agreements, contracts, collaborations, and partnerships are some of the prime strategies for businesses to gain a large hold in the market. Key players have deployed these tactics in the past as well, to drastically expand their reach and upscale their position in the market competition.

• Moveworks, Inc. introduced Creator Studio, which is a conversational AI platform, in April 2023. The new no-code generative AI platform empowers customers to construct huge language model interfaces. With the launch of Creator Studio, clients can upscale the agency of generative AI to develop their own customized conversational AI chatbots sans wide coding knowledge.

No-code AI Platform Outlook by Category

By Solution:

• No-code AI tools
  • Cloud-Based
  • On-Premises
• Services
  • Professional Services
    • Consulting Services
    • Support and Maintenance Services
    • Training and Education
    • Software Development
  • Managed Services

By Technology:

• Natural Language Processing (NLP)
• Computer Vision
• Predictive Analytics

By Enterprise Size:

• Small and Mid-Sized Enterprises (SMEs)
• Large Enterprises

By Industry:

• BFSI
• IT & Telecom
• Retail
• Healthcare
• Manufacturing
• Government
• Education
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube