Compound Semiconductor Market - Global Forecast to 2024: Increasing Demand for Compound Semiconductors in Military, Defense, and Aerospace

DUBLIN, March 11, 2019 /PRNewswire/ -- The "Compound Semiconductor Market by Type, Product, Application, Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The compound semiconductor market is expected to grow from USD 37.2 billion in 2019 to USD 53.0 billion by 2024, at a CAGR of 7.3%.

The compound semiconductor market is driven by various factors, such as the increase in government and stakeholder funding, rise in demand and implementation of GaN and SiC in the semiconductor industry, and high use of compound semiconductors in LED applications. However, high material and fabrication costs associated with compound semiconductor can hinder the growth of the market.

Based on product, power electronics to witness growth at highest CAGR during forecast period

Power electronics possess high growth rate in the compound semiconductor market during the forecast period. This is mainly due to increasing demand for SiC and gallium nitride (GaN) power semiconductors in applications such as hybrid and electric vehicles, power supplies and photovoltaic (PV) inverters. The market is driven by increasing sales of hybrid and electric vehicles. China is among the potential country for this market with demand for Schottky barrier diodes, MOSFETs, junction gate field-effect transistors (JFETs), and other SiC discretes.

Increasing demand for both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) will increase significantly in the coming years as governments of various countries aim to reduce air pollution. China, India, France, and other countries have already announced plans to ban cars with internal combustion engines in the coming decades, replacing them with cleaner vehicles. It results in high growth potential for compound semiconductor-based power electronics.

Based on application, power supply and automotive are fastest growing applications

Power supply and automotive is expected to grow at a higher rate than other applications. This is mainly due to the increasing importance of GaN and SiC devices in the power electronics market. SiC-based power devices can operate at higher temperatures with higher thermal conductivity, the higher breakdown voltage at lower on-stage resistance, faster switching speed, lower conduction and switching on-state loss. GaN is also gaining importance in power electronics. Many players are taking efforts to introduced GaN devices.

For instance, PowerSphyr, and GaN Systems have entered a strategic agreement to bring GaN-based wireless power systems to market for high powered applications across consumer, industrial, and automotive sectors worldwide. Automotive is the fastest growing application for SiC power devices including growth for segments such as charging infrastructure and EV/HEV.

Increasing adoption of EV/EHV is driven by factors such as favorable government policies and subsidies, heavy investments from automakers in EVs, growing concern about environmental pollution, and increased vehicle range per charge. China is among the most important countries for the growth of the EV market. Hence, the growth of the EV market opens doors for GaN and SiC power electronics, which further provides opportunities for SiC and GaN players.

APAC to record highest growth rate during forecast period

APAC is the leading market for compound semiconductors. APAC has become a global focal point for large investments and business expansions, thereby providing opportunities for compound semiconductors in consumer devices, general lighting, and commercial applications. Growing adoption of compound semiconductor telecommunications and lighting devices in this region would lead to high demand for compound semiconductors.

From the industry perspective, APAC has high growth in industrial activities in terms of growing number of foundries, wafer, and fabrication, assembly, testing, and packaging facilities in several Asian countries such as China, Taiwan, and South Korea. Telecommunication and general lighting applications currently dominate the market in APAC; however, power supply and automotive are the fastest growing application for the compound semiconductor market in APAC.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Compound Semiconductor Market
4.2 Compound Semiconductor Market, By Application and Region
4.3 Compound Semiconductor Market Growth Rates, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Government and Stakeholder Funding
5.2.1.2 Rise in Demand and Implementation of GAN and SIC in Semiconductor Industry
5.2.1.3 High Use of Compound Semiconductors in Led Applications
5.2.2 Restraints
5.2.2.1 High Material and Fabrication Costs Associated With Compound Semiconductors
5.2.3 Opportunities
5.2.3.1 Growing Automotive, Telecom, and Power Devices Industries
5.2.3.2 Rising Demand for High Speed and Advanced Devices in Datacom Applications
5.2.3.3 Increasing Demand for Compound Semiconductors in Military, Defense, and Aerospace
5.2.3.4 Emerging Technologies Revolutionizing Semiconductors Industry
5.2.4 Challenges
5.2.4.1 Compound Semiconductors are Complex to Design
5.3 Compound Semiconductor Value Chain
5.4 Trends of GAN on Silicon Technology
5.5 Recent Developments for GAN on Silicon

6 Compound Semiconductor Market, By Type
6.1 Introduction
6.2 Gallium Nitride (GAN)
6.2.1 Increasing Usage of GAN in General Lighting, Signage, and Automotive to Drive GAN Led Market
6.3 Gallium Arsenide (GAAS)
6.3.1 High Electron Mobility in GAAS Provides Opportunity for High-Speed Devices
6.4 Silicon Carbide (SIC)
6.4.1 Increasing Adoption of EV Provides Ample Opportunities for SIC Power Electronics Market
6.5 Indium Phosphide (INP)
6.5.1 Higher Electron Velocity Drives INP Device Market Growth for Telecom and Datacom Applications
6.6 Silicon Germanium (SIGE)
6.6.1 Optoelectronics and RF Support SIGE Market Growth
6.7 Gallium Phosphide (GAP)
6.7.1 Low Power LEDs is Key Application of GAP

7 Compound Semiconductor Market, By Product
7.1 Introduction
7.2 Led
7.2.1 Decreasing Prices of Led and Favorable Government Initiatives Drive Led Market Growth
7.3 Optoelectronics
7.3.1 Increasing Demand for High-Speed Data Transfer Devices Creates Opportunity for Optoelectronics Market
7.4 RF Power
7.4.1 Increasing Trends for Adoption of LTE and 5G to Provide Opportunities for RF Power Market
7.5 RF Switching
7.5.1 Telecommunications and Military & Defense are Important Applications of RF Switching Market
7.6 Other RF Devices
7.7 Power Electronics
7.7.1 Increasing Importance of GAN and SIC Devices in Power Supply, Ups, and Wireless Charging Provides Opportunity for Power Electronics Segment

8 Compound Semiconductor Market, By Application
8.1 Introduction
8.2 General Lighting
8.2.1 Increasing Penetration of LEDs in General Lighting Applications Provides Opportunity for GAN and GAN-On-Silicon Led Market
8.3 Telecommunications
8.3.1 Increasing Adoption of Compound Semiconductors for Telecom Infrastructure and Communication Devices Drives the Market
8.4 Military, Defense, and Aerospace
8.4.1 High Power Capability of GAN Makes It Suitable Material for Its Adoption in Military & Defense Applications
8.5 Automotive
8.5.1 Increasing Importance of Advanced Power Semiconductor Devices in Automotive Application Drives SIC and GAN Power Electronics Market
8.6 Power Supply
8.6.1 Wireless Charging to Provide Opportunity for GAN and SIC Devices Market
8.7 Datacom
8.7.1 Increasing Demand for High-Speed Transceivers in Data Center Drives Compound Semiconductor Market Growth
8.8 Consumer Displays
8.8.1 Demand for GAN LEDs for Backlighting Plays an Important Role for Consumer Display Application
8.9 Commercial
8.9.1 Increasing Importance of Digital Signage Provides Opportunity for Compound Semiconductor-Based Led Market
8.10 Others

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Rising Adoption of Compound Semiconductors in Military and Defense to Boost Compound Semiconductor Market Growth
9.2.2 Canada
9.2.2.1 Rising Trends of Electric Vehicles and Solar Energy to Boost Compound Semiconductor Market
9.2.3 Mexico
9.2.3.1 Increasing Government Initiatives in 5G and Renewable Energy Sources Drives Compound Semiconductor Market Growth
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany to Dominate European Compound Semiconductor Market Owing to Growing Automotive Industry and Need for Electric Vehicles
9.3.2 UK
9.3.2.1 Growing Initiatives From UK Government and Private Players to Augment Compound Semiconductor Market Growth
9.3.3 France
9.3.3.1 Telecom and Automotive Industries to Provide Opportunities for Compound Semiconductor Market
9.3.4 Italy
9.3.4.1 Growing Automotive Industry in Italy Provides Opportunities for Compound Semiconductor Market for Led and Power Electronics Segments
9.3.5 Rest of Europe
9.4 APAC
9.4.1 China
9.4.1.1 Increasing Trends of 5G and EV to Drive Compound Semiconductor Market Growth
9.4.2 Japan
9.4.2.1 Growth is Driven By Rising Adoption of Compound Semiconductor Devices in Telecommunications, Lighting, and Automotive Applications
9.4.3 South Korea
9.4.3.1 Compound Semiconductor Market Growth Mainly Driven By Telecommunications Application
9.4.4 Rest of APAC
9.5 RoW
9.5.1 South America
9.5.1.1 GAN and GAAS Markets Expected to Grow Significantly
9.5.2 Middle East and Africa
9.5.2.1 Telecommunications Application Provides Growth Prospects for Compound Semiconductor Market

10 Competitive Landscape
10.1 Overview
10.2 Ranking Analysis of Market Players
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Dynamic Differentiators
10.3.3 Innovators
10.3.4 Emerging Players
10.4 Developments
10.4.1 Product Launches/Developments
10.4.2 Agreements, Collaborations, Partnerships, and Contracts
10.4.3 Acquisitions
10.4.4 Expansions

11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 Nichia
11.2.2 Samsung Electronics
11.2.3 Osram
11.2.4 Qorvo
11.2.5 Skyworks
11.2.6 CREE
11.2.7 GAN Systems
11.2.8 Infineon
11.2.9 Mitsubishi Electric
11.2.10 NXP
11.2.11 on Semiconductor
11.3 Other Key Players
11.3.1 Analog Devices
11.3.2 Broadcom
11.3.3 EPC
11.3.4 Lumentum
11.3.5 Macom
11.3.6 Microsemi
11.3.7 Neophotonics
11.3.8 Renesas Electronics
11.3.9 Rohm
11.3.10 San'an
11.3.11 Stmicroelectronics
11.3.12 Exagan
11.3.13 Visic Technologies
11.3.14 Transphorm

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