The global compound semiconductor market size is expected to reach USD 55 billion by 2026, at a significant growth rate of 7.1% during the forecasted period 2019 to 2026.
The compound semiconductor is comprises of two or more elements. The compound semiconductor is manufactured using various type of deposition technologies such as atomic layer deposition, chemical vapour deposition among others. They possess wide range of properties such as high band gap and temperature resistance, fast operation, better frequency and optoelectronic features. These benefits are expected to boost the growth of compound semiconductor market over the forecast period as well. Many manufacturers in the compound semiconductor market are focusing on developing customized products for specific applications that are affordable. The compound semiconductor has the ability to consume less power and has high electron mobility, which is also anticipated to boost its demand.
Increasing government supportand increase in government and stakeholder funding has led to increase in demand for compound semiconductor systems. In addition to this, the adoption of compound semiconductors in various applications specifically in Led has led to augment in demand for compound semiconductor systems which in turn has driven the compound semiconductor market. In the past few years, there has been a significant increase in adoption of smartphones. This in turn has led to rapid growth in the compound semiconductor market. However, the use of the compound semiconductor has compatibility issues as compared to materials such as silicon. This has proven to be a major restraint for the growth of compound semiconductor market. High fabrication cost is also anticipated to hamper the growth of compound semiconductor market over the forecast period. Increasing awareness pertaining to benefits of using compound semiconductor can bring in new opportunities for the major players in compound semiconductor market.Compound semiconductors have a large application base such as automotive, telecom and energy and power. Growth in these markets is also anticipated to bring in new opportunities in compound semiconductor market. In addition to this, use of compound semiconductors in aerospace, military and defense is also expected to be major opportunity in this market.
Many players have adopted different strategy for the development of the compound semiconductor market. Increasing stakeholders funding is projected to drive the market. For instance, in August 2018, in South wales, the compound semiconductor catapult received a funding of £51.3 million.
The market research study on “Compound semiconductorMarket - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global compound semiconductormarket. The report also analyzes the key players operating in compound semiconductormarket and identifies the key strategies deployed by them along with the market share of leading players.
The global compound semiconductor market is segmented as below:
Compound Semiconductor Market by Type
Compound Semiconductor Market by Deposition Technology
Compound Semiconductor Market by Product
Compound Semiconductor Market by Application
Compound Semiconductor Market by Geography
The global compound semiconductor market is segmented by type, deposition technology, product, applicationand region.
On the basis of type, the market is segmented into type (III-V compound semiconductors, II-VI compound semiconductors, IV-IV compound semiconductors, Sapphire, and Others. The IV-IV compound semiconductors are accounted for major share in the compound semiconductor market.
Based on deposition technology, the market is segmented intoMolecular Beam Epitaxy (MBE), Chemical Vapor Deposition (CVD), Ammonothermal, Hydride Vapor Phase Epitaxy (HVPE), Atomic Layer Deposition (ALD), Liquid Phase Epitaxy (LPE), and others. The CVD segment dominated the global compound semiconductor market. This was mainly attributed to its increased use in consumer electronics, automotive, healthcare among others.
On the basis of products, the global compound semiconductor market is segmented into transistors. Integrated Circuits (ICs), Power Semiconductor, Diodes & rectifiers and others. The power semiconductor segment accounted for larger share in the global compound semiconductor market and is anticipated to hold the major share over the forecast period.
On the basis of application, the market is segmented into automotive, industrial and energy & power, IT & telecom, consumer electronics, aerospace & defense and healthcare. Consumer electronics holds the major share in the global compound semiconductor market and is anticipated to witness fastest growth till the end of forecast period. In addition to this, the automotive, aerospace and defense is also projected to exhibit the fastest growth over the forecast period.
Geographically, compound semiconductor market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
Asia Pacific is one of the leading markets in the global compound semiconductor market across the globe. The major players operating in compound semiconductor market have dominated presence in Asia Pacific region. China and Japan are some of the leading countries in the use of LEDs. Asia Pacific is also anticipated to witness the fastest growth over the forecast period. Countries such as China, South Korea and Japan are also expected to gain major share due to adoption of 5G technology.
North America is also expected to be one of the prominent region in the global compound semiconductor market over the forecast period. Increasing government support and growing expenditure on R&D are projected to drive the compound semiconductor market. France and Germany are the largest contributors to Europe market growth owing to increasing investments in these markets.One of the major reasons for the growth in the market size is the rapid adoption of innovation and technologies in these countries.
However, Latin American and the Middle Eastern countries including Saudi Arabia, United Arab Emirates (UAE), and Kuwait are projected to drive the LAMEA market. On the other hand, Africa is estimated to witness moderate growth in the compound semiconductor market.
Some of the key players in the global compound semiconductor market include Samsung Electronics, Nichia, OSRAM, Cree, Skyworks, GaN, Mitsubishi Electric, ON Semiconductor, Broadcom, and Qurvo. Mergers and acquisitions and product launches are expected to be some of the major strategies adopted by these companies in order to gain larger market shares in compound semiconductor market. For instance, Nichia launched colortunable Chip-on-Board (COB) series general lighting LEDs—NJCWL024Z-V1MT and NVCWJ024Z-V1MT.
The compound semiconductor is manufactured using various type of deposition technologies such as atomic layer deposition, chemical vapour deposition among others.
According to Acumen Research and Consulting, the compound semiconductor market value is expected to be worth around US$ 55 billion in 2026.
The compound semiconductor market is anticipated to grow over 7.1% CAGR during the forecast period 2019 to 2026.
Samsung Electronics, Nichia, OSRAM, Cree, Skyworks, GaN, Mitsubishi Electric, ON Semiconductor, Broadcom, and Qurvo are the top players operating in the compound semiconductor market.