Allied Market Research published a report on the Compound Semiconductor Market by Type (III-V Compound Semiconductor, II-VI Compound Semiconductor, Sapphire, IV-IV Compound Semiconductor, Others), by Product (Power Semiconductor, Transistor, Integrated Circuits, Diodes and Rectifiers, Others), by Deposition Technology (Chemical vapor deposition, Molecular beam epitaxy, Hydride vapor phase epitaxy, Ammon thermal, Atomic Layer Deposition, Others), by Application (IT and Telecom, Industry and Energy and Power, Aerospace and Defense, Automotive, Consumer Electronics, Healthcare): Global Opportunity Analysis and Industry Forecast, 2019-2031.
The global compound semiconductor market was valued at $90.7 billion in 2019 and is projected to reach $347 billion by 2031, growing at a CAGR of 11.6% from 2022 to 2031.
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Compound semiconductors are single-crystal semiconductor materials that comprise two or more elements. Some qualities change as two or more elements come together to create a single semiconductor crystal, while other properties are added. Rather than using silicon, which lacks this feature, in light-emitting diodes, compound semiconductor technology is preferred. Key factors that drive the growth of the compound semiconductor market include an increase in demand for compound semiconductor epitaxial wafer in LED technology, emerging trends toward compound semiconductor wafers in the automotive industry, and the advantage of compound semiconductors over silicon-based technology. Compound semiconductor devices have three times the thermal conductivity and a breakdown electric field strength that is 10 times higher than those made of silicon.
The compound semiconductor industry offers growth opportunities to the key players in the market. The technology used in 5G wireless base stations must combine efficiency, performance, and value. GaN solutions play a crucial role in providing these qualities. GaN-on-SiC delivers considerable gains in 5G base station performance and efficiency over Laterally Diffused Metal-Oxide Semiconductors (LDMOS). Greater thermal conductivity, strong robustness & reliability, improved efficiency at higher frequencies, and comparable performance in a lower-size MIMO array are further advantages of GaN-on-SiC.
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Businesses can evaluate the Porter’s Five Forces Analysis to determine the structure, level of competition, and industry’s strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company’s success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.
Competitive Analysis:
The compound semiconductor industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global compound semiconductor market include,
- Cree Inc.
- Infineon Technologies AG
- Nichia Corporation
- NXP Semiconductor N.V.
- Qorvo
- Renesas Electronics Corporation
- Samsung Electronics
- STMicroelectronics NV
- Taiwan Semiconductor Manufacturing Company Ltd.
- Texas Instruments Inc.
Top Impacting Factors
The significant factors impacting the growth of the global compound semiconductor market include the advantage of compound semiconductor wafers over silicon-based wafers, the increase in demand for compound semiconductor epitaxial wafers in consumer electronics, and emerging trends toward wafers in the automotive industry. However, an increase in the cost of wafer manufacturing acts as the major barrier to early adoption; thereby, hampering the growth of the market. On the contrary, the emerging usage of compound semiconductors in smart technologies and the increase in popularity of IoT in wafers are the factors anticipated to provide lucrative opportunities for the growth of the compound semiconductor epitaxial wafer market during the forecast period.
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Key Benefits for Stakeholders:
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights buyers’ and suppliers’ potency to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the compound semiconductor market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional and global compound semiconductor market trends, key players, market segments, application areas, and market growth strategies.
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