Compound Semiconductor Market Size is Projected to Reach $347 Billion by 2031 | Growing at a CAGR of 11.6%.
Compound Semiconductor Market: Global Opportunity Analysis and Industry Forecast, 2019-2031
PORTLAND, OREGON, UNITED STATES, September 27, 2023 /EINPresswire.com/ — Allied Market Research published a report on the Compound Semiconductor Market by Type (III-V COMPOUND SEMICONDUCTOR, II-VI COMPOUND SEMICONDUCTOR, SAPPHIRE, IV-IV COMPOUND SEMICONDUCTOR, Others), by Product (Power Semiconductor, Transistor, Integrated Circuits, Diodes and Rectifiers, Others), by Deposition Technology (Chemical vapor deposition, Molecular beam epitaxy, Hydride vapor phase epitaxy, Ammonothermal, Atomic Layer Deposition, Others), by Application (IT and Telecom, Industry and Energy and Power, Aerospace and Defense, Automotive, Consumer Electronics, Healthcare): Global Opportunity Analysis and Industry Forecast, 2019-2031.
The global compound semiconductor market was valued at $90.7 billion in 2019 and is projected to reach $347 billion by 2031, growing at a CAGR of 11.6% from 2022 to 2031.
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Compound semiconductors are single-crystal semiconductor materials that comprise two or more elements. Some qualities change as two or more elements come together to create a single semiconductor crystal, while other properties are added. Rather than using silicon, which lacks this feature, in light-emitting diodes, compound semiconductor technology is preferred.
Key factors that drive the growth of the compound semiconductor market include an increase in demand for compound semiconductor epitaxial wafer in LED technology, emerging trends toward compound semiconductor wafers in the automotive industry, and the advantage of compound semiconductors over silicon-based technology. Compound semiconductor devices have three times the thermal conductivity and a breakdown electric field strength that is 10 times higher than those made of silicon. This characteristic reduces the complexity and expense of the device, enhancing reliability and enabling it to be used in a variety of high-voltage applications, including solar inverters, power supplies, and wind turbines.
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The research report presents a complete judgment of the compound semiconductor market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities
Competitive Analysis:
The compound semiconductor industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global compound semiconductor market include,
Cree Inc.
Infineon Technologies AG
Nichia Corporation
NXP Semiconductor N.V.
Qorvo
Renesas Electronics Corporation
Samsung Electronics
STMicroelectronics NV
Taiwan Semiconductor Manufacturing Company Ltd.
Texas Instruments Inc.
Top Impacting Factors:
The significant factors impacting the growth of the global compound semiconductor market include the advantage of compound semiconductor wafers over silicon-based wafers, the increase in demand for compound semiconductor epitaxial wafers in consumer electronics, and emerging trends toward wafers in the automotive industry. However, an increase in the cost of wafer manufacturing acts as the major barrier to early adoption; thereby, hampering the growth of the market. On the contrary, the emerging usage of compound semiconductors in smart technologies and the increase in popularity of IoT in wafers are the factors anticipated to provide lucrative opportunities for the growth of the compound semiconductor epitaxial wafer market during the forecast period.
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international compound semiconductor market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
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Key Benefits for Stakeholders:
1) The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
2) This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
3) Major countries in each region are mapped according to their revenue contribution to the global market.
4) Porter’s five forces analysis illustrates the potency of the buyers and the compound semiconductor market share of key vendors.
5) The report includes major compound semiconductor suppliers along with the company overview, business segments, product portfolio, and key strategic moves and development in the market.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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Allied Market Research
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