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).
The compound semiconductor market growth is predicted to be substantially driven by due to its special qualities and a wide range of applications in different industries. These semiconductors are prepared using sophisticated deposition processes and comprise two or more elements from the periodic table. Compared to conventional silicon-based semiconductors, they are well known for their higher operating speeds, improved frequency capabilities, and excellent temperature resistance. Compound semiconductors are becoming more and more in demand due to their critical role in optoelectronics, particularly in the LED and laser manufacturing process. These technologies enhance performance with energy efficiency and are rapidly being used in fiber optics and general illumination. At the same time, consumption of compound semiconductors in consumer devices is dramatically increasing, especially in smartphones with the continuous decrease in manufacturing prices. Moreover, the growth of compound semiconductors will be driven by further advancements on the Internet of Things and the speedy progress of 5G networks. Advanced semiconductor solutions will be required for these evolving technologies to ensure increased connectivity, performance, and efficiency. Thus, a compound semiconductor industry will soon be developed to anticipate fast growth and progress in industries focusing on high-performance and creative solutions, thereby becoming a major player in the changing communications and electronics scene.
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
As per the compound semiconductor market analysis, the integrated circuits segment dominated the market in 2023. ICs are the backbone components of modern electronics, which allow for complex functions in compact designs. It is widely used in almost every industry, including automobile systems and telecommunications, to consumer electronics, thus it becomes a compound semiconductor market leader. ICs drive improvements and miniaturization in computers, cellphones, and other communication equipment. Another reason integrated circuits are still in high demand today is because businesses want increased functionality and efficiency. Driving this steady increase are the technological developments that will need more sophisticated integrated circuit designs to power new applications such as artificial intelligence (AI) and Internet of Things (IoT).
However, the power semiconductors segment within the compound semiconductor industry is leading the way for these more energy-efficient technologies, especially regarding electric vehicles (EVs) and renewable energy systems. They are critical in power applications that require great efficiency and reliability because of their special characteristics, which make it possible to control and convert much better power. Power semiconductor solutions have become increasingly adopted by organizations in a bid to reduce energy consumption and minimize their environmental footprint in the wake of growing concerns over climate change across borders. High and increasing usage of electric vehicles and renewable energy sources, such as solar and wind, which utilize the latest in semiconductor technology to raise the power generated and reduce loss in its operation.
Compound Semiconductor Market Analysis by Application
Compound semiconductors are highly used by the telecom and IT segment because these properties are capitalized on to fulfill the consistently growing demands for high-speed data transportation and communication. The material is heavily used within data centers, networking apparatuses, and communication apparatuses in which efficiency and performance are vital. The rapid expansion of 5G networks and connected devices fuels the growing demand for reliable and innovative semiconductor solutions, underlining this industry. The relentless development of wireless technology, demanding ever more advanced components for higher speeds and better connections for consumers and companies alike, underlines the superiority of the compound semiconductor industry.
Compound semiconductor technology is fast being adopted by an automotive industry that itself is rapidly changing by the requirement of advanced driver-assistance systems and EVs. This rise, driven by a global initiative towards sustainability and reduction in emissions, has recently caused a spike in the use of electric vehicles. Compound semiconductors provide the increased efficiency required in power electronics, battery management systems, and onboard charging solutions, all key to next-generation EVs. The compound semiconductor market outlook is predicted to be changed in the automotive sector as companies innovate to make more intelligent, connected vehicles, thus driving demand for increasingly complex semiconductor technology.
Global Compound Semiconductor Market By Product
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Compound Semiconductor Market Regional Insights
As per the compound semiconductor market forecast, Asia-Pacific, the largest contributor to the market size over the forecast period, will grow at a CAGR of 12.4%. Asia-Pacific is the fastest-growing region across the globe. It has high-end updated technologies; high demand for smart devices and expansion of industrial sectors. Therefore, it's the most profitable market for compound semiconductor technologies. Countless useful non-profit organizations add to the expansion of this packaging technology industry. Owing to the multiple strides these companies make toward creating electricity infrastructure with the latest technological advancements, the market of compound semiconductors is expanding in the region. Asia-Pacific is currently leading as the largest share contributor for the global compound semiconductor industry and is expected to surge the fastest with the highest CAGR.
However, Europe compound semiconductor industry sales have been recorded at a CAGR of 9.2% in the forecast period. The European market contains a lot of promising areas for the participants in this compound semiconductor industry. Market drivers in the compound semiconductors market have been identified to be from the influence of China both in East and West Europe and expansion in the economy of the European Economy. New compound semiconductors hold the majority of the market share in Europe. Large corporations are buying up small semiconductor companies to expand their market share and make next-generation technology available in their products to consumers.
Global Compound Semiconductor Market By Geography
- Largest
- Fastest
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Compound Semiconductor Market Dynamics
Compound Semiconductor Market Drivers
Increasing Demand for Energy Efficiency Solutions
- Compound semiconductors are in increasing demand because people are moving their focus towards energy efficiency and sustainability. For instance, electric cars and renewable energy systems have been in a growing spotlight for power electronics. The demand for the technology of power management continues to grow as companies endeavor to reduce their carbon footprints, and compound semiconductors are largely playing a role in realizing this environmental goal.
Advancements in Communication Technology
- One of the primary push factors of compound semiconductors is the fast evolution of 5G networks and IoT. The demand for these technologies depends highly on advanced communication components to allow data transfer speed as fast as possible. Thus, while telecom firms focus on the development of new applications and improvements of their infrastructure, the market of semiconductors which can have higher bandwidth and lower latency is bound to rise exponentially.
Restraints
High Production Costs
- Compound semiconductor production may be relatively expensive and challenging at times, which would make it difficult for smaller companies to penetrate the market. High production costs may be passed on to the product, which could drive up its final price and make it hard to compete with silicon-based technologies, which have already been developed. Such a financial obstacle would further hinder the popularization of compound semiconductors, especially where the target market is highly sensitive to prices.
Production Delays Due to Supply Chain Disruptions
- Due to pandemics, geopolitics, or natural calamities, supply chain disturbance risks the compound semiconductor industry. The disturbances in supply may eventually lead to shortages as key raw materials could run in short supply during extended delays in production, later influencing the supplies of semiconductor materials for various applications. This would pose such severe difficulties in the market and, hence, in allowing manufacturers and consumers alike not to be certain of further progress.
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Compound Semiconductor Market Competitive Landscape
A hyper-competitive compound semiconductor market is competing, and a mix of companies with established credentials and companies emerging as new players compete for technological superiority. Large companies are primarily focusing on innovation, strategic partnerships, and mergers to enrich their product portfolio and geographical access. High R&D spending ensures faster developments and a rising performance threshold in customer electronics, automobiles, and telecommunication.
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
- Qorvo, Inc. released the highest gain 100-watt L-band 1.2–1.4 GHz compact solution, a GaN-on-SiC PAM designed for commercial and defense radar applications, in August 2022. The QPA2511 GaN-on-SiC PAM provides integrated two-stage amplifier performance that reduces the overall system-wide power consumption with 60% power-added efficiency and a 70% smaller circuit footprint compared to comparable two-stage solutions.
- Infineon Technologies AG and II-VI Incorporated agreed on a multi-year wafer supply in August 2022. To accommodate the huge surge in consumer demand in this market, the former company is gaining further access to this critical semiconductor material. The agreement will improve the resilience of the supply chain for Infineon Technologies AG and further support its multi-sourcing strategy.
- Lucid Motors announced that Wolfspeed had integrated its Silicon Carbide power device solutions into its high-performance, all-electric Lucid Air car, in April 2022. It had also entered into a multi-year agreement to produce and supply SiC devices.
Compound Semiconductor Key Market Trends
- Increasing Compound Semiconductor Integration in Consumer Electronics: Compound semiconductors are increasingly being utilized in consumer electronics, wearables, tablets, and smartphones. The manufacturers employ the special qualities of such chips to boost the performance of devices, extend battery life, and allow cutting-edge functionalities as technology develops. This pattern is propelling more research and development in the area which supports continuous market expansion.
- Growing Use of Electric Vehicles: One of the key compound semiconductor market trends is rising use of EVs. Compound semiconductors are among the pillars of the electrification revolution that is sweeping through the automobile sector. Auto manufacturers are investing more dollars in electric vehicles (EVs) that exploit advanced semiconductor technology for more performance and economy as governments and consumers increasingly value ecologically friendly transportation choices. This trend is not only transforming the automobile industry but also spurring innovation and growing demand for compound semiconductors in other applications.
Compound Semiconductor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the compound semiconductor market is expected to expand at a rapid rate as transportation becomes electrified, energy-efficient solutions are needed more, and communication technology improves. Even though some of the issues that exist today include excessively high production costs and weaknesses in the supply chain, continuous innovation and sustainability have opened new possibilities. Increased usage in consumer electronics, automotive, and IT sectors is being realized with compound semiconductors as these gain more importance in a larger number of applications, making the materials an essential part in developing contemporary technology and environmentally friendly methods.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 122.90 billion |
| Market size value in 2031 | USD 311.84 billion |
| Growth Rate | 10.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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.
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