PORTLAND, Ore., Sept. 22, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Compound Semiconductor Market By Type (III-V Compound Semiconductors, II-VI Compound Semiconductors, Sapphire, IV-IV Compound Semiconductors, and Others), Deposition Technology (Chemical Vapor Deposition, Molecular Beam Epitaxy, Hydride Vapor Phase Epitaxy, Ammonothermal, Liquid Phase Epitaxy, Atomic Layer Deposition, and Others), Product (Power Semiconductor, Transistors, Integrated Circuits, Diodes & Rectifiers, and Others), and Application (IT & Telecom, Industrial and Energy & Power, Aerospace & Defense, Automotive, Consumer Electronics, and Healthcare): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global compound semiconductor industry was estimated at $89.9 billion in 2019, and is anticipated to hit $212.93 billion by 2027, registering a CAGR of 11.1% from 2020 to 2027.
Drivers, restraints, and opportunities-
Advantages of compound semiconductors over silicon-based technology, increase in demand for compound semiconductor epitaxial wafer in LED technology, and emerging trends toward compound semiconductor wafers in the automotive industry fuel the growth of the global compound semiconductor market. On the other hand, high-cost associated with compound semiconductor materials and components impedes the growth to some extent. However, emerging usage of compound semiconductors in smart technologies is expected to create lucrative opportunities in the industry.
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- The Covid-19 outbreak has badly impacted the compound semiconductor industry with lower incomes, disruptions in the supply chain, production shutdowns, and staff shortage.
- However, the market is expected to recoup its position soon as government bodies across the world are coming up with relaxations on the existing regulations.
The power semiconductor segment to dominate by 2027-
Based on product, the power semiconductor segment contributed to more than one-fourth of the global compound semiconductor market share in 2019, and is anticipated to rule the roost by the end of 2027. This is due to rise in need for energy efficiency in semiconductor devices. The transistor segment, on the other hand, would grow at the fastest CAGR of 13.0% during the study period, owing to emerging usage of transistors in telecommunication.
The IT and Telecom segment to maintain the dominant share-
Based on application, the IT and Telecom segment accounted for more than one-fifth of the global compound semiconductor market revenue in 2019, and is expected to lead the trail till 2027. Development in telecom infrastructure drives the growth of the segment. Simultaneously, the industry and energy & power segment would portray the fastest CAGR of 13.2% throughout the forecast period. Emergence of industrial automation fuels the segment growth.
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Asia-Pacific, followed by North America, garnered the major share in 2019-
Based on geography, Asia-Pacific, followed by North America, garnered the major share in 2019, holding nearly half of the global compound semiconductor market. The same region would also manifest the fastest CAGR of 13.2% from 2020 to 2027, owing to increase in adoption of high end technologies in the province.
Key players in the industry-
- Nichia Corporation
- Taiwan Semiconductor Manufacturing Company Ltd.
- Samsung Electronics
- Infineon Technologies AG.
- NXP Semiconductor N.V.
- Cree Inc.
- Renesas Electronics Corporation
- Texas Instruments Inc.
- STMicroelectronics NV
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