According to the latest report by IMARC Group, titled “Compound Semiconductor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global compound semiconductor market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.
What is the estimated industry size of Compound Semiconductor?
The global compound semiconductor market size reached US$ 112.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 150.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Compound semiconductor represents semiconductors that are composed of chemical elements belonging to two or more groups in the periodic table. They can be categorized into gallium nitride, indium phosphide, cadmium selenide, zinc selenide, sapphire, and other product categories. These compound semiconductor variants have unique material properties, including high breakdown electrical fields, direct energy band gap, high electron mobility, and improved frequency as compared to their silicon counterparts. Consequently, they find extensive utilization across several sectors, including information technology (IT), telecommunication, aerospace, defense, automotive, consumer electronics, healthcare, energy and power, etc.
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Compound Semiconductor Market Trends and Drivers:
The increasing product usage in light-emitting diode (LED) applications across countries to sense and emit multiple color lights in the form of signage displays and general lighting is primarily driving the compound semiconductor market. In addition to this, the rising integration of advanced technologies, which include machine learning (ML), internet of things (IoT), and artificial intelligence (AI) in the manufacturing of the product to monitor inventory control, enhance the quality, and provide maximum operational efficacy is also positively influencing the global market.
Besides this, the escalating adoption of these semiconductors in the automotive industry to manufacture autonomous and electric vehicles is acting as another significant growth-inducing factor. Moreover, the launch of numerous policies by government bodies aimed at promoting the installation of energy-efficient lighting sources is further augmenting the market growth.
Apart from this, the elevating incorporation of the product in the diagnosis and imaging equipment and surgical instrumentation in the healthcare industry is expected to fuel the compound semiconductor market over the forecasted period
Global Compound Semiconductor Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Compound Semiconductor Companies:
Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, NXP Semiconductors N.V., onsemi, Qorvo Inc., Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, WIN Semiconductors Corp. and Wolfspeed Inc.
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The report has segmented the market on the basis of region, type, product, deposition technology and application.
Breakup by Type:
- III-V Compound Semiconductor
- Gallium Nitride
- Gallium Phosphide
- Gallium Arsenide
- Indium Phosphide
- Indium Antimonide
- II-VI Compound Semiconductor
- Cadmium Selenide
- Cadmium Telluride
- Zinc Selenide
- IV-IV Compound Semiconductor
Breakup by Product:
- Power Semiconductor
- Integrated Circuits
- Diodes and Rectifiers
Breakup by Deposition Technology:
- Chemical Vapor Deposition
- Molecular Beam Epitaxy
- Hydride Vapor Phase Epitaxy
- Atomic Layer Deposition
Breakup by Application:
- IT and Telecom
- Aerospace and Defense
- Consumer Electronics
- Industrial and Energy and Power
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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