ID: MRFR/SEM/8651-HCR | February 2021 | Region: Global | 100 pages
Global Compound Semiconductor Market is estimated to reach USD 4,465.2 Million by 2026, registering a CAGR of 6.53% during the forecast period of 2020–2026.
Semiconductors made of two or more elements are categorized as compound semiconductors. These semiconductors are most commonly made from combining elements from Group III and Group V of the Periodic Table. Although some are formed by combining the element of Groups II and Group VI or using elements of the same group. Earlier, owing to the high cost of manufacturing, compound semiconductors were not used in widespread commercial applications. However, over the past decade, rising investments in the development of electric vehicles, increasing government initiatives for adoption of 5G, and increasing demand for high-speed transceivers in the data center has propelled the demand for the compound semiconductor market.
Global Compound Semiconductor Market has been segmented based on by Type, By Product, By Application, and By Region.
By Type, the market has been segmented into Gallium Nitride (GaN), Gallium Arsenide (GaAs), Silicon Carbide (SiC), Indium Phosphide (InP), Silicon Germanium (SiGe), Gallium Phosphide (GaP), Indium Antimonide (InSb), and others. The others segment includes Cadmium Selenide (CdSe), Cadmium Telluride (CdTe), Zinc Selenide (ZnSe), Aluminum Indium Arsenide (AlInAs), Cadmium Zinc Telluride (CdZnTe), and Mercury Cadmium Telluride (MCT). The Silicon Carbide (SiC) segment is expected to dominate the market during the forecast period. However, the Gallium Nitride (GaN) segment is expected to register the highest CAGR owing to the growing application of this material in general lighting, signage, and automotive sector.
By Product, the market has been segmented into Optoelectronics, RF devices, and power electronics. The optoelectronics segment is further sub-segmented into LED, image sensors, laser diode, optocouplers, and photovoltaic cells. The RF devices segment includes RF power and RF switching. The power electronics segment is further bifurcated into the diode, transistor, power modules, and power IC. The optoelectronics segment is expected to account for the largest market share. Furthermore, the LED sub-segment is expected to register the highest CAGR owing to the decrease in LED prices and the increase in the initiative by the government to promote the adoption of LED.
By Application, the market has been segmented into lighting, telecommunication, aerospace & defense, automotive, consumer display, and others. The lighting segment is projected to hold the largest market share. However, the telecommunication segment is expected to register a significant CAGR during the forecast period.
The Key Players profiled in the Global Compound Semiconductor Market research report are Nichia Corporation (Japan), Samsung Electronics (South Korea), AMS AG (Austria), Qorvo, Inc. (US), Skyworks Solutions, Inc. (US), Cree Inc. (US), GaN Systems, Inc. (Canada), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), NXP Semiconductors NV (Netherlands), and ON Semiconductor (US). In March 2020 GT Advanced Technologies entered into a 5-year agreement of USD 50 million with ON Semiconductor, wherein the former will produce and supply silicon carbide material to the latter.
Global Compound Semiconductor Market, 2018–2026 (USD Million)
Source: MRFR Website
Based on type, the market has been segmented into GaN, GaAs, SiC, InP, SiGe, GaP, InSb, and Others
Based on product, the market has been segmented into Optoelectronics [LED, Image Sensors, Laser Diode, Optocouplers, and Photovoltaic Cells], RF Devices [RF Power and RF Switching], Power Electronics (Diode, Transistor, Power Modules, and Power IC
Based on application, the market has been segmented into Lighting, Telecommunication, Aerospace & Defense, Automotive, Consumer Display, and Others
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Compound Semiconductor Market is estimated to grow at a significant rate during the forecast period from 2020 to 2026. The geographic analysis of compound semiconductor has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America).
Based on region North America holds the largest share for the compound semiconductor market in 2019 and is expected to grow with significant growth during the forecast period. Various factors are leading to drive the growth of the compound semiconductor market in the North American region due to the presence of high-tech technology and developed infrastructure. Furthermore, the presence of companies such as Qorvo, Inc., Skyworks Solutions, Inc., and Cree Inc. in the region are also fueling in the growth of the market. The rising demand for high-speed internet and the requirement for maintaining data traffic in two-way communication is also fueling the market growth in the region.
However, the Asia-Pacific region is expected to be the fastest-growing region for the compound semiconductor market during the forecast period due to the commercialization of 5G services in the major countries in the region. Furthermore, the region is witnessing growing demand for the growing demand for compound semiconductor devices from industry including telecommunication, automotive and aerospace, and defense.
The key players have adopted new product development, mergers, and acquisition as a part of their growth strategy to further increase their share in the global compound semiconductor market. For instance, in December 2018, Qorvo launched a 28GHz GaN-based front-end module to cater to the demands from 5G fixed wireless access base stations.
There has been a recent partnership, and collaboration among the key players, a strategy the business entities leverage to strengthen their reach to the customers. For instance, in September 2018, STMicroelectronics collaborated with
Leti to develop GaN-on-Silicon technology for power conversion high efficiency, high-power applications such as automotive onboard chargers for electric and hybrid vehicles, servers, and wireless charging.
Frequently Asked Questions (FAQ) :
The compound semiconductor market valuation would reach and surpass USD 4,465.2 million by 2026.
The compound semiconductor market could achieve 6.53% CAGR during the forecast period of 2020 to 2026.
The compound semiconductor market report includes type, product, and application for review.
Players included in the compound semiconductor market report are AMS AG (Austria), Nichia Corporation (Japan), Samsung Electronics (South Korea), Skyworks Solutions, Inc. (US), Qorvo, Inc. (US), Infineon Technologies AG (Germany), Cree Inc. (US), GaN Systems, Inc. (Canada), NXP Semiconductors NV (Netherlands), Mitsubishi Electric Corporation (Japan), and ON Semiconductor (US).
North America would dominate the global compound semiconductor market.