The latest research study “Compound Semiconductor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global compound semiconductor market size reached US$ 112.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 150.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

Compound semiconductors are formed by combining two or more elements from different groups in the periodic table. Silicon-germanium (SiGe), silicon carbide (SiC), indium phosphide (InP), indium antimonide (InSb), zinc selenide (ZnSe), gallium arsenide (GaAs) and gallium nitride (GaN) are some commonly used elements to manufacture compound semiconductor. It provides several advantages, such as enhanced frequency, high electron mobility and bandgap, temperature resistance, and better current and voltage holding capacity, ideal for high-speed, photonic, and high-power device technologies. As a result, compound semiconductors are widely adopted in electronics, information, and technology (IT), industrial, defense, automotive, telecommunications, healthcare, and aerospace sectors.

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Compound Semiconductor Market Trends and Drivers:

The market is primarily driven by the escalating demand for compound semiconductors in high-frequency electronic applications such as electronic wafers, film coatings, and integrated circuits (IC). In addition, the increasing use of compound semiconductors in automotive and general lighting is contributing to the market growth. Moreover, the widespread adoption of artificial intelligence (AI)  and the rising electrification of vehicles represent other major growth-inducing factors.

Besides this, the growing popularity of light-emitting diodes (LED) for lighting and signage displays is providing a positive thrust to the market growth. Along with this, the implementation of numerous government initiatives to promote the installation of energy-efficient lighting sources and the surging product need in the healthcare industry for diagnosis and imaging equipment, biomedical electronics, and implantable medical devices are accelerating the product adoption rate.

Furthermore, the extensive use of compound semiconductor materials in scientific applications such as jumpsuits and rocket coatings due to their high radiation resistance and research and development (R&D) activities conducted by leading market players are also creating a favorable global market outlook.

Global Compound Semiconductor Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, NXP Semiconductors N.V., onsemi, Qorvo Inc., Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, WIN Semiconductors Corp. and Wolfspeed Inc.

The report has segmented the market on the basis of region, type, product, deposition technology and application.

Breakup by Type:

  • III-V Compound Semiconductor
    • Gallium Nitride
    • Gallium Phosphide
    • Gallium Arsenide
    • Indium Phosphide
    • Indium Antimonide
  • II-VI Compound Semiconductor
    • Cadmium Selenide
    • Cadmium Telluride
    • Zinc Selenide
  • Sapphire
  • IV-IV Compound Semiconductor
  • Others

Breakup by Product:

  • Power Semiconductor
  • Transistor
  • Integrated Circuits
  • Diodes and Rectifiers
  • Others

Breakup by Deposition Technology:

  • Chemical Vapor Deposition
  • Molecular Beam Epitaxy
  • Hydride Vapor Phase Epitaxy
  • Ammonothermal
  • Atomic Layer Deposition
  • Others

Breakup by Application:

  • IT and Telecom
  • Aerospace and Defense
  • Automotive
  • Consumer Electronics
  • Healthcare
  • 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
  • SWOT Analysis
  • Value Chain
  • 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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