Compound Semiconductor Market is Expected to rise at a CAGR of 11.10% during 2024– 2032

Pune, India, July 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Compound Semiconductor Market.

Market Highlights

Global Compound Semiconductor Market size is expected to reach USD 212.57 Billion by 2032, registering a CAGR of 11.10% during the forecast period of 2024–2032. Factors such as rising investments in the development of electric vehicles, increasing government initiatives for adoption of 5G, and increasing demand for high-speed transceivers in the data center is expected to drive the demand for Compound Semiconductor across the globe.

On the basis of type, the market has been segmented into Gallium Nitride (GaN), Gallium Arsenide (GaAs), Silicon Carbide (SiC), Indium Phosphide (InP), Silicon Germanium (SiGe), Gallium Phosphide (GaP), Indium Antimonide (InSb), and others. The SiC segment dominated the market in 2019, whereas the GaN segment is expected to register the highest CAGR during the forecast period from 2024 to 2032.

On the basis of product, the market has been segmented into Optoelectronics, RF devices, and power electronics. The optoelectronics segment is further sub-segmented into LED, image sensors, laser diode, optocouplers, and photovoltaic cells. The optoelectronics segment dominated the market in 2019, whereas the power electronics segment is expected to register the highest CAGR during the forecast period from 2024 to 2032.

On the basis of application, the market has been segmented into lighting, telecommunication, aerospace & defense, automotive, consumer display, and others. The lighting segment is expected to dominate the review period. The telecommunication segment is expected to register the highest CAGR during the forecast period.

Key Players

The Key Players profiled in the Global Compound Semiconductor Industry research report Nichia Corporation (Japan), Samsung Electronics (South Korea), AMS AG (Austria), Qorvo, Inc. (US), Skyworks Solutions, Inc. (US), Cree Inc. (US), GaN Systems, Inc. (Canada), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), NXP Semiconductors NV (Netherlands), and ON Semiconductor (US) among others.

Regional Analysis

The geographical analysis of the Global Compound Semiconductor Market has been done for North America, Europe, Asia-Pacific, and the rest of the world.

The North American market has been segmented into the US, Canada, and Mexico. The regional market is expected to account for the largest share of the global Compound Semiconductor market during the review period. The growth of the market in North America can be attributed to the high concentration of market players and the easy availability of proficient technical expertise in the region. Furthermore, rising demand for high-speed internet and the requirement for maintaining data traffic in two-way communication is expected to drive the demand for Compound Semiconductor in the region.

In terms of market size, Europe is expected to hold the second-largest share in the Compound Semiconductor market. The European market has been divided into the UK, Germany, France, and the rest of Europe. In Germany rise in demand for electric vehicles is driving the market growth. The region is witnessing a rise in partnership amongst the key market players. However, political instability in countries such as the UK hinders the growth of the Europe Compound Semiconductor market.

The market in Asia-Pacific is expected to register the highest growth during the review period of 2024 to 2032. The regional market has been classified as China, Japan, India, South Korea, and the rest of Asia-Pacific. Japan and China are among the leading revenue generators in the Asia-Pacific Compound Semiconductor market. The rapid growth of the automotive, electrical, and electronics industry in the region is expected to positively impact the market during the forecast period.

The rest of the world includes South America, and the Middle East, and Africa. Among these, the market in the Middle East and Africa is expected to register a significant CAGR during the forecast. The growing rate of adoption of automation service in the region fuel growth of the market.