USD 122.90 billion
Compound Semiconductor Market Size, Share, Growth Analysis, By Product(Power Semiconductor, Transistors, Integrated Circuits, Diodes & Rectifiers), By Type(III-V Compound Semiconductor, II-VI Compound Semiconductor, Sapphire, IV-IV Compound Semiconductor), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45O2017 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
65
|Figures:
77
Compound Semiconductor Market Insights
Global Compound Semiconductor Market size was valued at USD 122.90 billion in 2022 and is poised to grow from USD 136.30 billion in 2023 to USD 311.84 billion by 2031, growing at a CAGR of 10.9% during the forecast period (2024-2031).
Due to their application in fundamental electrical circuits and the expanding global automation industry, the semiconductor demand will increase from 2022 to 2030. Compound semiconductors like SiC and GaN excel in performance and efficiency in power electronics applications, which makes them the perfect choice for usage in electric vehicles and renewable energy systems. Throughout the anticipated term, this will fuel the expansion of the compound semiconductor market's power electronics sector. For instance, Taiwan-based Ledtech announced in June 2022 - AM OSRAM that their new BioLED intelligent air purifier has a sanitization function powered by OSLON UV 3636 UV-C LEDs. OSLON UV 3636 LEDs in the BioLED can render 99.99% of viruses inactive, including SARS-CoV-2, at a dosage rate of 3.6mJ/cm2. However, it is projected that factors such as high production costs, a lack of raw material availability, complicated manufacturing procedures, and difficulties in obtaining high yields will impede the growth of the worldwide compound semiconductor market.
US Compound Semiconductor Market is poised to grow at a sustainable CAGR for the next forecast period.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
III-V Compound semiconductor
Fastest Growth
III-V Compound semiconductor
Growth Rate
10.9% CAGR
Global Compound Semiconductor Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Compound Semiconductor Market Segmental Analysis
Global Compound Semiconductor Market is segmented on the basis of product, type, application and region. By product, the market is segmented into power semiconductor, transistors, integrated circuits, diodes & rectifiers. By type, market is segmented into iii-v compound semiconductor, ii-vi compound semiconductor, sapphire, iv-iv compound semiconductor. By application, the market is segmented into it & telecom, industrial & energy & power, aerospace & defense, automotive, consumer electronics, health care. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Compound Semiconductor Market Analysis by Product
The market's largest contributor, the power semiconductor segment, is anticipated to expand at a CAGR of 9.5% during the projected period. Power electronics, which convert and regulate electric power, uses solid-state electronics. Power electronic components can be used to create switches and amplifiers. Compound semiconductors are being used in devices and modules by power electronics firms due to increased operational efficiencies. A range of solid-state power electronic devices that can control output characteristics including voltage, current, and frequency are made using compound semiconductor packing. Due to the increasing demand for more efficient energy management in goods like solar inverters and hybrid cars, compound semiconductors like SiC and GaN are becoming more and more essential for high-voltage power electronics.
With a CAGR of 11.8%, the diodes and rectifiers segment is predicted to grow faster. A diode is a semiconductor device that only allows one direction of electricity to flow. A rectifier converts the alternating current from an AC source into a DC one. Compound semiconductor diodes are the light-producing components in LEDs and laser diodes. Wide bandgap semiconductor power rectifiers are used in inverter units for hybrid electric car or power utility switching.
Compound Semiconductor Market Analysis by Type
The market's largest contributor, IV-IV compound semiconductors, is anticipated to expand at a CAGR of 10.5% throughout the course of the projected period. In IV-IV compound semiconductors (metalloids), elements from group 14 are employed, such as tin, lead, germanium, flerovium, silicon, and carbon. The two primary compound semiconductors created from type IV elements are silicon carbide and silicon germanium. Silicon is frequently utilized in semiconductors and electronic devices because of how easily it can be manufactured. Important mechanical and electrical properties are also present. Many integrated circuits and boards utilize silicon due to its capacity to synthesize silicon oxide, which insulates different active components of I.C.s. With a CAGR of 11.5%, the III-V compound semiconductors market is anticipated to grow faster. III-V compound semiconductors are produced by the reaction of 13 metals and 15 anions. Among them, InP, InAs, GaAs, GaN, and InSb make up the majority. High-performance optoelectronic devices frequently employ them due to their superior electronic properties, which include high electron mobility, a straight band gap, and low binding energy. Due to the industry participants' and technical experts' intensified efforts to produce compound semiconductor wafers and films, the market is growing. In addition, the development of high-power semiconductor goods and devices has increased demand for various compound semiconductors and related deposition processes.
Global Compound Semiconductor Market By Type
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Compound Semiconductor Market Regional Insights
The largest market contributor, Asia Pacific, is anticipated to expand at a CAGR of 12.4% throughout the course of the projection period. Asia-Pacific has the world's fastest rate of growth. It is the most lucrative market for compound semiconductor technologies since there are high-end upgraded technologies available, smart electronics are in greater demand, and manufacturing sectors are growing. The development of the packaging technology sector is also aided by a number of beneficial non-profit organizations. The many measures these organizations take to build power infrastructure utilizing cutting-edge technology are leading to an expansion of the region's market for compound semiconductors. Asia-Pacific is currently the region with the largest share of the global compound semiconductor market, and it is expected to develop at the fastest rate with the highest CAGR.
Compound semiconductor sales are predicted to rise rapidly in Europe, with a CAGR of 9.2% during the projected period. Compound semiconductor industry participants have access to attractive opportunities in Europe. The market is primarily being driven by an expanding Chinese presence in both Western and Eastern Europe as well as the growth of the European economy. One of the key markets for novel compound semiconductors is Europe. Large businesses are acquiring tiny semiconductor firms in order to expand their market share and provide next-generation technology through their product line.
Global Compound Semiconductor Market By Region, 2024-2031
- Largest
- Fastest
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Compound Semiconductor Market Dynamics
Compound Semiconductor Market Drivers
Increasing demand for Compound Semiconductors in Power Electronics to Bolster Market Growth
- The demand for compound semiconductors in power electronics is increasing due to their ability to operate at high temperatures, high voltage, and high frequency. This is driving the growth of the compound semiconductor market in the power electronics sector.
- The emergence of 5G technology is driving the demand for compound semiconductors, particularly gallium arsenide (GaAs) and indium phosphide (InP), which are used in the production of 5G components, such as power amplifiers, filters, and switches.
Compound Semiconductor Market Restraints
Geopolitical Tension and Trade Restrictions to Hinder Market Growth
- The global compound semiconductor market can be affected by geopolitical tensions and trade restrictions, which can limit the availability of raw materials and impact the supply chain. This can act as a restraint on the growth of the compound semiconductor market.
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Compound Semiconductor Market Competitive Landscape
Due to the presence of technology-driven businesses concentrating on differentiating from a product offering aspect, the market is highly fragmented. Companies are also concentrating on gaining core capabilities connected to diverse service offerings through a variety of strategies, such as mergers and acquisitions, strategic alliances, and vertical integration throughout the value chain. The leading players' efforts to meet the rising demand in the regional markets include capacity expansion and acquisitions.
Compound Semiconductor Market Top Player’s Company Profiles
- Cree Inc. (United States)
- Qorvo, Inc. (United States)
- Mitsubishi Electric Corporation (Japan)
- Infineon Technologies AG (Germany)
- STMicroelectronics N.V. (Switzerland)
- Texas Instruments Inc. (United States)
- Analog Devices, Inc. (United States)
- Rohm Co., Ltd. (Japan)
- Microchip Technology Inc. (United States)
- Taiwan Semiconductor Manufacturing Company Limited (Taiwan)
- Samsung Electronics Co., Ltd. (South Korea)
- ON Semiconductor Corporation (United States)
- Renesas Electronics Corporation (Japan)
- MACOM Technology Solutions Holdings Inc. (United States)
- Advanced Micro Devices, Inc. (United States)
- Toshiba Corporation (Japan)
- IQE PLC (United Kingdom)
- RF Micro Devices, Inc. (United States)
- NTT Electronics Corporation (Japan)
Compound Semiconductor Market Recent Developments
- In August 2022, the opening of the silicon carbide (SiC) factory owned by ON Semi in Hudson, New Hampshire, was announced. By the end of 2022, the facility is anticipated to have nearly quadrupled the company's workforce in Hudson and increased its production capacity by a factor of five.
- In June 2022, an 800MHz to 12.8GHz synthesizer for high-performance ultra-wideband data converter and synchronization applications was made available, according to Analogue Devices Inc. The new ADF4377 synthesizer provides remarkable signal-to-noise performance by using an ultra-clean clock source to drive the signal sampling process.
- In June 2022, Ams OSRAM has introduced a new combined ambient light (ALS) and proximity sensor, which offers precise color and illuminance measurements as well as trustworthy proximity recognition even when operating behind the high-speed, high-definition OLED screens of the shadiest smartphones.
- In April 2022, in its high-performance, all-electric Lucid Air vehicle, Lucid Motors stated that Wolfspeed had implemented its Silicon Carbide power device solutions. Additionally, they entered into a multi-year contract to manufacture and deliver SiC devices.
Compound Semiconductor Key Market Trends
- Compound semiconductors, such as gallium nitride (GaN) and indium gallium nitride (InGaN), are widely used in the production of LED lighting due to their energy efficiency, long lifespan, and low maintenance cost. The demand for LED lighting is expected to continue growing, driving the growth of the compound semiconductor market in this sector.
Compound Semiconductor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global compound semiconductor market is expected to see strong growth in the coming years, driven by several factors such as the increasing adoption of compound semiconductors in 5G technology, growing use of compound semiconductors in automotive applications, and increasing demand for compound semiconductors in power electronics. The increasing investments in compound semiconductor R&D are expected to drive the development of new materials, manufacturing processes, and applications, which will further drive the growth of the market. The global compound semiconductor market is expected to see strong growth in the coming years, driven by the increasing adoption of compound semiconductors in 5G technology, growing use of compound semiconductors in automotive applications, and increasing demand for compound semiconductors in power electronics, among other factors.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 122.90 billion |
| Market size value in 2031 | USD 311.84 billion |
| Growth Rate | 10.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Compound Semiconductor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Compound Semiconductor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Compound Semiconductor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Compound Semiconductor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Compound Semiconductor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Compound Semiconductor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Compound Semiconductor Market Report Snapshots
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