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GaN LED Chips Market Size
- Report ID: GMI11179
- Published Date: Sep 2024
- Report Format: PDF
GaN LED Chips Market Size
GaN LED Chips Market was valued at USD 27.5 billion in 2023 and is expected to grow at a CAGR of over 9% between 2024 and 2032. The automotive industry has increasingly embraced GaN LED chips due to their superior brightness, longer lifespan, and reduced power consumption. These chips are being used in a variety of automotive lighting applications, including headlights, interior lighting, and signal lights. The shift toward electric vehicles (EVs) and advanced driver-assistance systems (ADAS) also supports the growth of GaN LED chips, as they contribute to the overall efficiency and safety of modern vehicles.
For instance, in May 2024, Infineon Technologies AG announces two new generations of high voltage (HV) and medium voltage (MV) CoolGaN TM devices which now enable customers to use Gallium Nitride (GaN) in voltage classes from 40 V to 700 V in a broader array of applications that help drive digitalization and decarbonization. These two product families are manufactured on high performance 8-inch in-house foundry processes in Kulim and Villach. With this, Infineon expands its CoolGaN advantages and capacity to ensure a robust supply chain in the GaN devices market, which is estimated to grow with an average annual growth rate (CAGR) of 46 percent over the next five years according to Yole Group.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| GaN LED Chips Market Size in 2023: | USD 27.5 Billion |
| Forecast Period: | 2024–2032 |
| Forecast Period 2024–2032 CAGR: | 9% |
| 2024–2032 Value Projection: | USD 60 Billion |
| Historical Data for: | 2021–2023 |
| No. of Pages: | 210 |
| Tables, Charts & Figures: | 218 |
| Segments covered: | Product, Technology, Wafer Size, End-Use, Substrate Type, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The proliferation of smart home technologies and the Internet of Things (IoT) has led to a surge in demand for smart lighting solutions. GaN LED chips, with their energy efficiency and superior performance, are ideally suited for integration into smart lighting systems. The ability to remotely control lighting, adjust brightness, and create customizable lighting environments is driving the adoption of GaN LED chips in residential and commercial settings.
The production of GaN LED chips involves sophisticated processes that can lead to technical challenges, such as defects in the crystal structure or issues with heat management. These challenges can impact the reliability and performance of the chips, potentially leading to failures or reduced lifespans. Ensuring consistent quality and reliability remains a challenge for manufacturers, which could hinder market growth.
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GaN LED Chips Market Scope
