A lead analyst at AMR highlighted that the compound semiconductor market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
Allied Market Research published a research report on the compound semiconductor market. The findings of the report states that the global market for compound semiconductor generated $89.9 billion in 2019, and is expected to reach $212.9 billion by 2027, registering a CAGR of 11.1% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Rise in demand for compound semiconductor epitaxial wafer in consumer electronics, surge in implementation of wafers in the automotive industry, and increase in use of compound semiconductor wafers photovoltaic, photonics, spintronics, and others are expected to drive the growth of the global compound semiconductor market during the forecast period. On the other hand, extortionate cost of wafer manufacturing is expected to hinder the growth to some extent. However, increase in popularity of IoT in wafers is expected to create ample opportunities for the industry.
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The report provides a detailed scenario of the impact of the Covid-19 pandemic on the compound semiconductor market globally. The outbreak of COVID-19 has had a negative impact on the growth of the global compound semiconductor market, owing to the prevalence of lockdowns in numerous countries across the globe. Lockdowns led to the closure of various electronics manufacturing hubs across the globe, adversely affecting the supply chain of semiconductor market. This created shortage of materials, components, and finished goods. However, the market is expected to recoup soon.
The report offers detailed segmentation of the global compound semiconductor market based on type, deposition technology, product, application, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue generating segments to accomplish growth in the future.
Based on product, the power segment generated the highest market share in 2020, garnering more than one-fourth of the global market. The transistor segment, on the other hand, would cite the fastest CAGR of 13.0% during the forecast period.
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Based on application, the IT and Telecom segment held the majority share in 2020, accounting for more than one-fifth of the global market. The industrial and energy & power segment, on the other hand, is expected to exhibit the fastest CAGR of 13.2% during the forecast period.
Based on region, market across Asia-Pacific region is held the lion’s share in 2020, garnering nearly half of the global market. The same region is expected to exhibit the fastest CAGR of 13.2% during the forecast period. The other regions analyzed in the report include North America, Europe and LAMEA.
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The leading market players analyzed in the global compound semiconductormarket report include Texas Instruments Inc., STMicroelectronics NV, Infineon Technologies AG, Cree Inc., Nichia Corporation, Samsung Electronics, Qorvo, NXP Semiconductor N.V., Renesas Electronics Corporation, and Taiwan Semiconductor Manufacturing Company Ltd.
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