IMARC Group, a leading market research company, has recently releases report titled “Compound Semiconductor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global compound semiconductor market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Compound Semiconductor
A compound semiconductor refers to a semiconductor material that comprises a combination of various elements, including gallium arsenide (GaAs), gallium-nitride (GaN), silicon carbide (SiC), indium-phosphide (InP), and aluminum-gallium-indium-phospide (AIGaInP). It consists of unique properties that make them ideal for a range of electronic and optoelectronic applications, such as high-speed transistors, light-emitting diodes (LEDs), and solar cells. As it assists in manufacturing microwave transistors where high temperatures and powers are required and in medical imaging systems, the demand for compound semiconductors is rising across the globe.
How Big Is the Compound Semiconductor Market?
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.
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What are the growth prospects and trends in the compound semiconductor industry?
At present, the increasing demand for compound semiconductors, as they offer resistance to high temperatures and heat, represents one of the primary factors supporting the growth of the market. Besides this, the rising installation of energy-efficient lighting sources to reduce electricity consumption in the residential and commercial sectors is propelling the growth of the market.
In addition, the growing purchase of smartphones to access the internet and connect with other individuals is offering a favorable market outlook. Apart from this, the rising employment of medical imaging to conduct minimally invasive surgeries is contributing to the growth of the market.
Additionally, the increasing adoption of nanotechnology in the production of compound semiconductors is impelling the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
- IV-IV Compound Semiconductor
Breakup by Product:
- Power Semiconductor
- Integrated Circuits
- 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
- Consumer Electronics
- 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
Who are the key players operating in the industry?
The report covers the major market players including:
- Infineon Technologies AG
- Microchip Technology Inc.
- Mitsubishi Electric Corporation
- NXP Semiconductors N.V.
- Qorvo Inc.
- Renesas Electronics Corporation
- Texas Instruments Incorporated
- WIN Semiconductors Corp.
- Wolfspeed Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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