The gallium nitride semiconductor devices industry has garnered $12,084.6 million revenue, and it is projected to advance at a rate of 22.1% from 2021 to 2030, to generate $72,813.1 million revenue.

Gallium nitride semiconductor devices provide numerous benefits such as faster device speed, higher energy efficiency, and lower costs, compare to silicon semiconductor devices, including smartphones, computers, cameras, and televisions, that restrict the industry's progress.

Additionally, the industry is likely to grow due to worldwide rising robot shipments. For instance, the sales of robotic units have increased from 500 thousand in 2020 to 600 thousand in 2022.

Presently, the industry is witnessing the advent of 5G technology. The advanced technology for mobile cellular networks transforms the wireless communication sector. The increasing consumption of mobile data propels the requirement for wireless data bandwidth, which causes a huge strain on the availability of networks of wireless spectrum.

Mobile data traffic is projected to generate 160 exabytes each month in 2025. The sector is focusing on extremely high-frequency bands to support large bandwidths and high data rates.

The 5G mmWave owns a frequency band ranging from 24 GHz to 300 GHz. The mmWave technology offers increased coverage, improved performance, and seamless connectivity for an increasing number of networked devices and users.

The opto-semiconductors category captures the largest industry share, accounting for $5.0 billion in 2021. It is led to various industrial applications of these semiconductors, such as defense, aerospace, and consumer electronics, such as lasers, LEDs, solar cells, optoelectronics, and photodiodes.

Similarly, the automotive application of these semiconductors for automotive lights, indoor and outdoor lights, and pulse-powered laser systems is rising, which boosts the industry's growth.

The worldwide growing demand for ADAS can provide the opportunity to companies operating in the opto-semiconductors industry. For instance, the European Union and the U.S. have made the installation of autonomous emergency braking systems, and forward-collision warning systems in new vehicles mandatory.

The power IC category captures a significant share of the gallium nitride semiconductor devices industry, and it is projected to retain its position in the coming years. The surging requirement for GaN-based power ICs is led by their features, such as efficient navigation, collision avoidance, and real-time air traffic control.

Moreover, top companies are concentrating on advancements in power ICs, for various applications such as telecom and automotive, which results in their increased demand.

The 6-inch category is projected to experience the fastest growth, of 25%, in the near future. It is led by the benefits of the 6-inch GaN semiconductors, including uniform voltage supply, and precise current control. It boosts their demand for defense equipment, automotive collision-avoidance devices, and wireless cellular base stations’ power amplifiers in the consumer electronics, automotive, and defense sectors.

North America holds the largest industry share, and it is projected to generate around $26 billion revenue in 2030. It is ascribed to growing internet penetration and surging usage of smartphones. It is expected that the 5G network would penetrate more than 50% of the region.

Therefore, the advantages of GaN semiconductor devices, such as fast speed, and low cost propels the industry growth.