From GlobeNewswire: 2024-11-19 07:00:00

The Wide Bandgap Semiconductors Market was valued at $1.94 billion in 2023 and is projected to reach $5 billion by 2032, driven by the demand for energy-efficient devices. GaN segment is expected to grow with a CAGR of over 10%, offering lower energy losses and faster switching speeds, ideal for power electronics and 5G.

Various industries like automotive, consumer electronics, telecommunications, and aerospace are driving the wide bandgap semiconductors market. North America leads with over 35% market share, investing in advanced industries like EVs, aerospace, and renewable energy. Companies like Infineon Technologies and Texas Instruments are key players in this industry, driving innovation and growth.

Market segments include materials like Silicon Carbide (SiC) and Gallium Nitride (GaN), and end-use industries like automotive, consumer electronics, and energy & utilities. Global Market Insights offers comprehensive market research reports, providing insights and data for strategic decision-making in various key industries.



Read more at GlobeNewswire: Wide Bandgap Semiconductors Market to surpass USD 5 billion