Compound Semiconductor Market (By Deposition Technology: Molecular Beam Epitaxy, CVD, Ammonothermal, Hydride Vapor Phase Epitaxy, Atomic Layer Deposition, and Others; By Type: II-VI Compound Semiconductors, III-V Compound Semiconductors, IV-IV Compound Semiconductors, Sapphire, and Others; By Product: Transistors, Power Semiconductor, Diodes & Rectifiers, IC's, and Others; By Application) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027

The global compound semiconductor market value surpassed USD 32.5 Billion in 2019 and expected to hit over USD 44.52 billion by 2027 with registered growth at a compound annual growth rate (CAGR) of around 6.2% during the forecast period 2020 to 2027.

Growth Factors

Increased demand for compound semiconductor epitaxial wafer especially in consumer electronics industry along with the advantages offered by the compound semiconductor wafers over silicon-based wafers are the prominent factors that drive the overall market growth. Light Emitting Diodes (LEDs) are one of the most common applications of compound semiconductor. Today, LEDs have replaced various light sources such as fluorescent bulbs, incandescent bulbs, and CFLs. Moreover, they have significant penetration in automotive lighting, general lighting, and signage displays. The compound semiconductors used in LEDs are made from group III and group V elements of the periodic table commonly known as III-V materials. In addition, rising trend towards application of wafers in automotive sector again propels the market growth to some extent.

Besides this, high cost of wafer manufacturing pose significant threat to the market growth of compound semiconductor. An average expenditure required per compound semiconductor is much more than the expenditure required per pure silicon semiconductor device. This is mainly due to the complex and advanced technologies employed at every stage of manufacturing process. Nevertheless, increasing implementation of compound semiconductors in smart technologies as well as rising penetration of Internet of Things (IoT) in wafers are the prime factors expected to fuel the market growth during the forecast period.

Application Insights

IT & Telecom accounted for the major market value share of nearly 45% in 2019 and expected to witness substantial growth over the analysis period. This is attributed to rising demand for semiconductor elements in wireless and mobile communications. High efficiency and speed offered by the compound semiconductor over silicon semiconductors are the prime factor driving its application in advanced communication technologies. Furthermore, integration of numerous up-coming technologies such as IoT, artificial intelligence, and machine learning are creating more need for the usage of high-speed semiconductor devices, thereby influencing positively for the market growth of compound semiconductors.

On the other hand, consumer electronics projected to register the most lucrative growth rate during the forecast period. Increasing end-use applications such as LED, mobile phones, and television, and other entertainment devices predicted to contribute for the significant market growth.

Regional Insights

The Asia Pacific captured maximum revenue share of nearly 50% in the global compound semiconductor market in 2019. In addition, the region analyzed to witness the highest growth over the forecast period. This is mainly due to the escalating demand of consumer electronic products along with significant penetration of wireless communication technologies in the region. The region encountered prominent growth potential for the new and advanced technologies as well as shifting consumer trend towards smart and innovative solutions has remarkably driven the regional growth in the recent past and projected to continue the same over the coming years.

Key Companies & Market Share Insights

The global compound semiconductor market is highly fragmented and competitive in nature due to rapidly changing consumer preferences. Companies present in the market are mainly focusing on differentiating from a product offering standpoint. They are also focused towards acquiring core competencies associated to varied service offerings by different methods that include vertical integration, mergers & acquisitions, and strategic alliances across the value chain.

Some of the prominent players in the compound semiconductor market include:

  • Nichia Corporation
  • Cree Inc.
  • Qorvo
  • Samsung Electronics
  • Taiwan Semiconductor Manufacturing Company Ltd.
  • STMicroelectronics NV
  • NXP Semiconductor N.V.
  • Texas Instruments Inc.
  • Renesas Electronics Corporation
  • Infineon Technologies AG

Segments Covered in the Report

This research study encompasses comprehensive assessment of the marketplace revenue with the help of prevalent quantitative and qualitative intelligences, and prognoses of the market. This report presents breakdown of market into major and niche segments. Furthermore, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This report comprises market division and its revenue valuation by categorizing it depending on deposition technology, type, product, application, and region:

By Deposition Technology

  • Molecular Beam Epitaxy
    • Metal Organic Molecular Beam Epitaxy
  • Chemical Vapor Deposition
    • Metal Organic Chemical Vapor Deposition (MOCVD)
  • Ammonothermal
  • Hydride Vapor Phase Epitaxy
  • Atomic Layer Deposition
  • Liquid Phase Epitaxy
  • Others

By Type

  • II-VI Compound Semiconductors
    • Cadmium Telluride
    • Cadmium Selenide
    • Zinc Selenide
  • III-V Compound Semiconductors
    • Gallium Phosphide
    • Gallium Nitride
    • Indium Phosphide
    • Gallium Arsenide
    • Indium Antimonide
  • IV-IV Compound Semiconductors
    • Silicon Germanium
    • Silicon Carbide
  • Sapphire
  • Others
    • Aluminum Indium Arsenide
    • Aluminum Gallium Arsenide
    • Aluminum Gallium Phosphide
    • Aluminum Gallium Nitride
    • Cadmium Zinc Telluride
    • Indium Gallium Nitride

By Product

  • Transistors
    • Metal Oxide Semiconductor Field-Effect Transistors
    • High Electron Mobility Transistors
    • Metal Semiconductor Field-Effect Transistors
  • Power Semiconductor
  • Diodes & Rectifiers
    • Zener Diode
    • PIN Diode
    • Light-Emitting Diode
    • Schottky Diode
  • Integrated Circuits
    • Radio Frequency Integrated Circuits
    • Monolithic Microwave Integrated Circuits
  • Others

By Application

  • Industrial and Energy & Power
    • Wind Turbines & Wind Power System
    • Smart Grid
    • Motor Drives
    • Photovoltaic Inverters
  • Consumer Electronics
    • LED Lighting
    • Invertors
    • Switch Mode Consumer Power Supply System
  • IT & Telecom
    • Satellite Communication
    • Signal Amplifiers and Switching System
    • RF
    • Radar
  • Automotive
    • Chemical Vapor Deposition Braking System
    • Electric Vehicle & Hybrid Electric Vehicles
    • Automobile Motor Drives
    • Rail Traction
  • Aerospace & Defense
    • Ships & Vessels
    • Combat Vehicles
    • Microwave Radiation
  • Healthcare
    • Biomedical Electronics
    • Implantable Medical Device

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World
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FAQ's

What was market value of compound semiconductor?
The global compound semiconductor market value surpassed USD 32.5 Billion in 2019.
The global compound semiconductor market is projected to grow at a compound annual growth rate (CAGR) of around 6.2% during the forecast period 2020 to 2027.
Increased demand for compound semiconductor epitaxial wafer especially in consumer electronics industry along with the advantages offered by the compound semiconductor wafers over silicon-based wafers are the prominent factors that drive the overall market growth.
IT & Telecom accounted for the major market value share of nearly 45% in 2019 and expected to witness substantial growth over the analysis period.
The Asia Pacific captured maximum revenue share of nearly 50% in the global compound semiconductor market in 2019.
Some of the key players operating in the market are Nichia Corporation, Cree Inc., Qorvo, Samsung Electronics, Taiwan Semiconductor Manufacturing Company Ltd., STMicroelectronics NV, NXP Semiconductor N.V., Texas Instruments Inc., Renesas Electronics Corporation, and Infineon Technologies AGamong others.

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