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Compound Semiconductor Market (Type - Gallium Arsenide (GaAs), Gallium Nitride (GaN), Silicon Carbide (SiC), and Other Types; Product - LED, RF Devices, and Power Electronics; Application - Telecommunication, General Lighting, Aerospace and Defense, Automotive, Healthcare, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : August, 2020

  • Rep Id : ICT1459

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on compound semiconductor market provides in-depth analysis of segments and sub-segments in the global as well as regional compound semiconductor market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional compound semiconductor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global compound semiconductor market. According to the report, the global compound semiconductor market is projected to grow at a CAGR of 6.1% over the forecast period of 2020-2026.

 

Market Insight

Next generation chips are causing an upsurge in the use of compound semiconductors that combine two or more elements to create a compound. Gallium arsenide (GaAs), zinc selenide (ZnSe), gallium nitride (GaN), indium phosphide (InP), and silicon carbide (SiC) are some of the examples of compound semiconductors. However, the current concerns over the spread of coronavirus is negatively impacting the market as consumer electronics and automotive will be hit the worst by movement restrictions as well as the rapidly changing consumer behavior with future volatility. In addition, global supply chains have disrupted as the virus spreads across the globe bringing uncertainties in the overall semiconductor industry. Nonetheless, as the emphasis on reducing human interaction and social distancing rise, AI solutions are predicted to surge during the pandemic, which will also require compound semiconductors to achieve full commercialization.

 

The increasing use of compound semiconductors in LED applications such as automotive lighting, general lighting, and signage displays, and growing demand for mobile and wireless products are some major factors drives the global compound semiconductor market over the forecast period. They are being used in power amplifiers for smartphones and other wireless devices, light sources for DVDs and Blu-rays, LEDs, solar batteries, and solar cells and gyro stabilisers in satellites. The less power consumption, cost-effective, and high electron mobility is some features offered by compound semiconductors escalating the growth of the market. Compound semiconductors have properties that outperform silicon. These semiconductors can operate at much higher frequencies and handle much higher power levels enabling high-speed processing that's over 100 times faster than silicon. Besides this, increasing uses of compound semiconductor in several end-use industries such as automotive, telecommunication, military, and aerospace and defense, healthcare and many others contributes to the market growth. The telecommunications industry is one of the largest end-use industries. Moreover, the expanding implementation of GaN and SiC in the semiconductor industry is also contributing to the growth of the compound semiconductor market.  However, compatibility issues about high-end materials such as silicon are expected to restraints the growth of the global compound semiconductor market. Going further, government initiative regarding the adoption of green technologies for electric vehicles creates growth opportunities for the market in the near future.

 

Asia Pacific dominates the global compound semiconductor market over the forecast period. The growth of this region is attributed owing to the increasing application in several industries, such as automotive and military, telecommunication, and aerospace and defense. The presence of a strong semiconductor and electronics industry in China and India is likely to have a positive impact on the Asia Pacific compound semiconductor market. North America exhibited the second-largest demand for the compound semiconductor market.  The high investment in the aerospace and defense and telecommunication industry coupled with high adoption rate wireless technologies and optoelectronic devices is projected to rise the demand of the compound semiconductor market in the North America region. The Middle East and Africa and Latin America are expected to show a positive outlook for compound semiconductor over the forecast period owing to expanding electronics and telecom industry coupled with increasing demand for wireless technologies.

 

Segment Covered

The report on the global compound semiconductor market covers segments such as type, product, and application. On the basis of type, the sub-markets include gallium arsenide (GaAs), gallium nitride (GaN), silicon carbide (SiC), and other types. On the basis of product, the sub-markets include LED, RF devices, and power electronics. On the basis of application, the sub-markets include telecommunication, general lighting, aerospace and defense, automotive, healthcare, and other applications.

 

Companies Profiled:

The report provides profiles of the companies in the market such as ON Semiconductor, NXP Semiconductors N.V., Mitsubishi Electric Corporation, Infineon Technologies AG, GaN Systems Inc., Cree, Inc., Skyworks Solutions, Inc., Qorvo, Samsung Electronics Co., Ltd., and Nichia Corporation.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the compound semiconductor market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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