Compound Semiconductor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Compound Semiconductor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : January, 2023 | Semiconductor & Electronics

Report Digest

Compound Semiconductor Market: Overview

The compound semiconductor market has been anticipated to grow at a noticeable speed in the forthcoming years. Market growth across the world has been possible because of the growing demand as well as the implementation of SiC and GaN in the industry. In addition to this, the rising use of compound semiconductors in the LED application is also predicted to propel demand opportunities in the compound semiconductor market during the forecast period.

In recent years, LEDs are used as the replacement of different light sources, for example, CFLs, fluorescent applications, and incandescent bulbs. Further, LEDs are penetrating at a rapid speed in various applications, such as signage displays, automotive lighting, and general lighting. This increasing application rate of LEDs is projected to create demand opportunities in the upcoming years.

Compound semiconductor materials are comprised of LEDs and these materials have been made from group V and group III of the periodic table. Gallium phosphide (Gap), gallium arsenide (GaAs), and gallium nitride (GaN) are the group III-V materials that are used in these semiconductors.

Compound Semiconductor Market: Key Trends

In recent years, there has been a noteworthy increase in the use of RF power in aerospace, defense, and military applications that further provides growth impetus in the compound semiconductor market. The growing use of devices with RF power in different fields, for example, radar systems and avionic are likely to create growth avenues in the market for applications in the military and aerospace. Further, the use of GaAs and InP for the development of advanced and novel products has been predicted to boost the growth of aerospace, defense, and military applications in the market.

On the flip side, high expenditure for the complete industry processes involved in the supply chain is restraining growth avenues in the compound semiconductors market. The primary reason for this increased cost is that all the processes are new, complex, need high-priced state-of-the-art equipment, and employ advanced technologies. In addition to this, the lack of required expertise and familiarity in the manufacturing processes among executives and the engineering community are also curtailing growth impetus in the market.

Packaging and complex design of these devices are also serving as the vital factors to affect the performance of these semiconductors and this factor is estimated to create some hurdles in the expansion avenues in the market.

Compound Semiconductor Market: Competitive Dynamics and Key Developments

The key players dealing in the compound semiconductor market have been incorporating various strategies to develop growth avenues in the upcoming years. Some of these market strategies are novel product introductions and approvals, R & D activities, technological partnerships and collaborations, mergers and acquisitions, strategic initiatives, training services, and regional expansion are incorporated by the prominent players to establish a stronghold in the market.  

For instance, OSRAM, ams’s subsidiary, has launched a novel OSRAM 24V TEC Flex family in May 2020. It provides uniform illumination for the broad range of outdoor and indoor applications.

The key players in the compound semiconductor market are:

  • Samsung Electronics 
  • Skyworks
  • Nichia  
  • Qorvo
  • ams 

Compound Semiconductor Market: Regional Assessment

The compound semiconductor market has been divided into Europe, North America, the Middle East & Africa, Asia Pacific, and Latin America on the basis of geographical locations. The Asia Pacific region has been expected to present innumerable growth opportunities in the regional market. This market dominance has been possible with the increasing demand for devices in different industry verticals, for example, aerospace and defense, automotive and military, and telecommunication. India, the Philippines, Taiwan, Japan, and China are among the prominent countries to boost demand opportunities in the market. In addition to this, the commercialization of 5G services in the APAC region is also predicted to drive demand opportunities in the regional market.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?