IMARC Group latest research study “Compound Semiconductor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global compound semiconductor market size reached US$ 112.2 Billion in 2022. Looking forward, the market is expected to reach US$ 150.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Compound semiconductors are produced from two or more chemical elements belonging to different groups in the periodic table. Some common elements used to make compound semiconductors include silicon-germanium (SiGe), zinc selenide (ZnSe), gallium arsenide (GaAs), zinc sulfide (ZnS), silicon carbide (SiC), indium phosphide (InP), indium antimonide (InSb), gallium phosphide (GAP), and gallium nitride (GaN). It can generate microwave signals and enhance frequency, quick operation, high electron mobility and bandgap, temperature resistance, and better current and voltage holding capacity. As a result, compound semiconductors are extensively utilized in automotive, telecommunications, electronics, information and technology (IT), defense, healthcare, aerospace, and industrial sectors.
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Compound Semiconductor Market Trends and Drivers:
The market is primarily driven by the rising demand for compound semiconductors in high-frequency optical devices and information displays. In addition, the increasing use of electronic wafers, film coatings, and integrated circuits (IC) is contributing to the market growth. Moreover, the widespread adoption of light-emitting diode (LED) in the automotive sector for lighting and signage displays is providing a positive thrust to the market growth.
Besides this, the increasing utilization of artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) to manufacture compound semiconductors represents another major growth-inducing factor. The market is propelled by the growing product applications in the healthcare sector for diagnosis and imaging equipment, biomedical electronics, and implantable medical devices.
Furthermore, numerous government initiatives to encourage the installation of energy-efficient lighting sources, extensive research and development (R&D) activities, mergers and acquisitions (M&A), and strategic collaborations among key players are creating a favorable market outlook across the globe.
Compound Semiconductor Market Report Scope
Market size value in 2022
US$ 112.2 Billion
Market forecast in 2028
US$ 150.4 Billion
CAGR of 4.9% from 2023 to 2028
Base year for estimation
Global Compound Semiconductor Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Compound Semiconductor Companies:
Infineon Technologies AG (OTCMKTS: IFNNY)
Microchip Technology Inc. (NASDAQ: MCHP)
Mitsubishi Electric Corporation (OTCMKTS: MIELY)
NXP Semiconductors N.V. (NASDAQ: NXPI)
Renesas Electronics Corporation
Texas Instruments Incorporated
WIN Semiconductors Corp.
The report has segmented the market on the basis of region, type, product, deposition technology and application.
Breakup by Type:
III-V Compound Semiconductor
II-VI Compound Semiconductor
IV-IV Compound Semiconductor
Breakup by Product:
Diodes and Rectifiers
Breakup by Deposition Technology:
Chemical Vapor Deposition
Molecular Beam Epitaxy
Hydride Vapor Phase Epitaxy
Atomic Layer Deposition
Breakup by Application:
IT and Telecom
Aerospace and Defense
Industrial and Energy and Power
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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