ID: MRFR/SEM/8651-HCR | February 2021 | Region: Global | 100 pages
The Compound Semiconductor Market Growth is projected as 6.53%. Compound semiconductors are created by combining through components in same periodic table. It is a unique type of semiconductor that comes with high temperature resistance. The optoelectronic feature of this conductor is suitable for wide range of applications. Due to its rising benefits the demand for the compound semiconductor market is constantly surging. Synthesis of these semi conductors is done through deposition technology. The unique properties of this component attract plenty of end users.
Some of the exceptional functions of semiconductors are high band gap, high voltage, high current and microwave signals. Technology applications have high need for the compound semiconductor. These semiconductors are estimated to have higher magnitude than silicone. Also, high frequency ultra violet is spectrum is visible in the semiconductors. These semiconductor raw mainly used in photovoltaic, microelectronics and spintronics. Increased energy efficiency is achievable through these semiconductors.
For more thickness of these semiconductors epitaxial wafer is used. Defect sensitivity, carrier concentration and thickness are enabled in this component for enhanced performance. Consumer electronics market has the highest demand for compound semiconductors. The merging trend of wafers in automotive industry is another factor leading to high demand. All these factors will raise the overall compound semiconductor market value by 4465 billion by 2026.
Outbreak of covid 19 is leading to unprecedented changes in the global markets. The losses and challenges are more during this period. The supply chain disruptions are hampering the market operations. The compound semiconductor market has few strong key players. There are tier one and tier two key players in the market witnessing developments in this period.
However, the compound semiconductor market has been affected due to the covid 19. The regions such as North America and Asia pacific are witnessing the high losses. Also, South Korea faced complete shutdown of compound semiconductor facilities for 45 days. It has led to high losses in the Asia pacific region. Also, Mexico is facing massive supply chain disruption. Further, low production rate is another challenge in the compound semiconductor market. However, post covid 19, effects of the market look positive. More developments are anticipated to happen in next few years.
Growing use of compound semiconductors in LEDs is a crucial driver of the compound semiconductor market. LEDs are rapidly replacing other traditional light sources. Demand for the incandescent and fluorescent bulbs is massive. The penetration of the LED light is high in automotive, general lighting and signages. LED contains semiconductor materials that belong to the tier 3 segment of the periodic table. The growing use of LED light will bring positive impact on the compound semiconductor market.
Also, the demand from crucial end users is a demand driving factor of the market. Today, the need for high speed tranrecivers is high. Especially, data centres have high requirement for these tranreceivers. The new age transceivers come in the compound semiconductors. These semiconductors can increase the quality and the speed of the transreceivers. This demand from the end users of the market will lead to high growth.
Also, this driver will contribute to Compound Semiconductor Market Revenue. The rising investments from the market are yet another driver. Electrical vehicles market has high need for compound semiconductors. They come with high heat resistance capability that leads to more adoption. This driver will bring favourable changes in the compound semiconductor market.
The increasing demand for the compound semiconductor in defense sector will lead to growth opportunities. In recent years, the adoption of semiconductors in aerospace, military and defense sector is high. The avionics market uses the RF devices that will lead to wide range of scope for the compound semiconductor market. The military sector is expected to allocate separate investment for the compound semiconductors. The use of more technologies such as GaAS and INP will further boost the growth of this market.
All these growth opportunities will improve supply rate of the market in the future. Moreover, the rising governmental initiatives to enhance compound semi docndutcor market will lead to higher growth. Today, many governments encourage the use of semiconductors. There are plenty of benefits of this technology. Energy efficiency is one o the prominent feature of semiconductors. Due to its wide range of benefits the governmental iniatives are rising. These factors will expand Compound Semiconductor Market Size.
High material cost is a crucial restraint of the market. The entire industry process and supply chain operations of the market are expensive. The average material cost for the compound semiconductor is comparatively higher than silicone conductors. It is a restraining factor of the market that can decline overall adoption rate.
The crucial reason for high industry cost is complexity in manufacture. Also, it is a procedure that involves new technologies. All these create high industry and fabrication cost for the market. This restraint of the market can affect the price. The overall product price can grow in upcoming years.
Complexity of compound semiconductors design is a significant market challenge. High level of design complexity is a prevalent issue in compound semiconductor market. It has more than one component from periodic table the complexities are higher. Today, the designers of the market require a less complex design and low cost product. However, both these aspects are unachievable in this market. The requirements of this semiconductor are varying.
It is leading to sophisticated designs and structures of these semiconductors. It is leading to difficulties in technologies the compound semiconductor is deployed. This challenge of the market can lead to less adoption rate of the semiconductor. Further, the substitutes for the semiconductors are a major challenge. There are cost effective and less complex semiconductors that can take over the demand. The availability of these substitutes can impede with this market growth.
Compound Semiconductor Market Forecast shows a positive growth trend. The market has power electronics and power supply segments with high demand. The development of hybrid vehicle will lead to immense adoption of power electronic semiconductors.
This segment of the market is estimated to contribute highest profits. Further, the key drivers such as penetration of LED will positively impact the market. Also, need for high speed transceiver will boost the overall growth. However, the high material cost is a restraining factor of the market. Also, complexity in design is a market challenge that can effect market growth. Overall growth trend is stable with rising demand in defense industry.
Asia pacific is anticipated to record highest Compound Semiconductor Market Share. It is a region that has exceptional growth for semiconductors from various verticals. Japan, Taiwan, china and India are countries with top key players. The defence, aerospace and military sectors have high adoption of compound semiconductors.
Commercialisation of 5G will provide exceptional growth opportunities for compound semiconductors. The chains market will have high production rate. However, there aresipply chain disruption in these market in next few years. Still, new developments by key players will lead to more growth.
There are few key players in the compound semiconductor market competitive landscape. Key players are creating easy design for compound semiconductor in upcoming years. Also, more initiatives are taken to increase awareness. Further, market acquisitions, collaborations, partnerships and expansions are part of the competitive landscape.
The compound semiconductor market is diversified into Asia pacific, Europe and North America. Asia pacific will dominate other regional players of the market. Emerging markets such as India, china and Japan have high demand for the semiconductors. Also, insuctiralisation and growing urbanisation are factors deriving market demand.
Booming consumer electronics market will bring high scope for semiconductors. Further, North America and Europe are other key regions. The demand is surging due to high require form end users. Also, these regions have high investments for the market. New developments and product launches are expected in North America. Europe will have highest expansion rate in forecast period.
The key players of compound semiconductor market are
|Market Size||USD 4,465.2 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Product, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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).|
|Key Market Opportunities||Commercialization of 5G services.|
|Key Market Drivers||
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.
Some of the more common compound semiconductors include: GaN, GaAs, SiC, InP, SiGe, GaP, InSb and Others
A compound semiconductor is semiconductor that is composed of elements from two or more different groups of the periodic table, and is synthesized through deposition technologies.