The global SiC and GaN device market is currently experiencing rapid growth. In fields with higher requirements for power and RF, SiC and GaN materials are shining brightly and continuously capturing market share from traditional silicon materials. Asia Chem Consulting estimates that the global SiC and GaN device market will maintain a high growth rate of 25%-40% in the coming years.

GaN has been widely adopted by the RF industry due to its high power output and small area at high frequencies. With the advent of 5G, GaN has found its place in Sub-6GHz macro base stations and millimeter-wave (above 24GHz) small cells. The large-scale construction of 5G base stations has brought a huge market demand for GaN RF devices. In 2019, the GaN RF market was approximately 642 million US dollars. Asia Chem Consulting estimates that by 2025, the GaN RF device market will exceed 3 billion US dollars.

In addition, GaN technology is expected to significantly improve applications in power management, power generation, and power output. The GaN power market is currently mainly driven by fast charging. In 2020, companies such as Xiaomi, OPPO, Rapoo, omthing, and Yuno released GaN charger products. The GaN power device field has long been dominated by pure GaN startups like EPC, GaN Systems, Transphorm, and Navitas, whose products are mainly manufactured by TSMC, Episil, or X-FAB. In 2019, the GaN power device market was approximately 90 million US dollars. Asia Chem Consulting predicts that by 2025, the GaN power device market will reach around 400 million US dollars.

Chinese enterprises have been rapidly deploying in the field of third-generation semiconductor devices in recent years. There are currently about 30 projects in China focusing on third-generation semiconductor devices/modules, with both IDM and foundry models. These projects are mainly concentrated in Jiangsu Province, Guangdong Province, Shandong Province, and other regions. The main products are currently SiC diodes, GaN power devices, SiC power modules, etc.