Compound Semiconductor Market size is projected to reach $212.9 billion by 2027

According to a recent report published by Report Ocean, titled, "Compound Semiconductor Market By Type, Deposition Technology, Product, and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027"", the global compound semiconductor market was valued at $89.9 billion in 2019, and is projected to reach $212.9 billion by 2027, registering a CAGR of 11.1% from 2020 to 2027.

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The compound semiconductors market is currently in its growth stage and is expected to register substantial growth in the near future, owing to the high investment in R&D activities by market players and increase in focus toward Internet of Things (IoT). Other factors that drive the market growth include increase in demand for automobile & electronics and development of smart devices.

Emerging technologies, such as artificial intelligence (AI) and quantum computing, require compound semiconductors to achieve full commercialization. The UK has a rich heritage of microprocessor design, with companies such as ARM and Imagination Technologies, and new start-up companies designing AI processors, such as Bristol based GraphCore which creates lucrative opportunities for its market growth globally.

North America is the second largest region, in terms of revenue generation, in the global compound semiconductors market. The telecommunication industry is well-established in North America, which has led to increased adoption of compound semiconductors. In addition, rapid growth in the sales of consumer electronic products supplements the market growth. Moreover, increase in defense expenditure and widespread use of compound semiconductors in healthcare, consumer electronics, and automotive industries drive the compound semiconductor market growth.

The development of next-generation smart technologies is expected to utilize a range of new materials, including superconductors, carbon nanotubes, and compound semiconductors such as GaN. New types of cable, power electronics, cable insulators, cable dielectrics, and energy storage devices are essential parts of a smart grid and smart infrastructures. Furthermore, increase in usage of these technologies is expected to fuel the demand for GaN and other compound semiconductors, as the market matures.

Moreover, incorporation of advanced compound semiconductor devices and modules is expected to promote new smart infrastructure efficiencies, which includes improving power system control & reliability, reducing costs, and enhancing power quality & equipment lifespan. Thus, development of smart technologies is expected to provide lucrative opportunity for the compound semiconductor epitaxial wafer market growth.

According to compound semiconductor market trends, China accounts for 50% of worldwide semiconductor consumption. The outbreak of COVID-19 is having a major impact on both customers and companies. Electronics manufacturing hubs have been temporarily been shut down to limit the virus spread. This is affecting the global supply chain, which is further expected to impact the suppliers and manufacturers, globally. COVID-19 is highlighting potential risk and vulnerability of electronics industry and semiconductor value chain model.

The demand from the wireless communication segment is expected to increase due to factors such as increased broadband usage, higher demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to further push up the need for digital transformation, technologies such as 5G, the IoT, AI, and intelligent edge computing for future optimization

Key Findings of the Study:

By type, the IV-IV Compound Semiconductor segment generated the highest revenue in the global compound semiconductor market forecast in 2019.
By deposition technology, the chemical vapor deposition segment generated the highest revenue in the global compound semiconductor market in 2019.
By product, the power semiconductor segment generated the highest revenue in the global compound semiconductor market forecast in 2019.
By application, the IT & Telecom segment generated the highest revenue in the global compound semiconductor market in 2019.
The key compound semiconductor market leaders profiled in the report include Cree Inc., Nichia Corporation, Samsung Electronics, Qorvo, NXP Semiconductor N.V., Taiwan Semiconductor Manufacturing Company Ltd., Renesas Electronics Corporation, Texas Instruments Inc., STMicroelectronics NV, and Infineon Technologies AG. These key players adopt several strategies such as new product launch & development, acquisition, partnership & collaboration, and business expansion to increase the compound semiconductor market share during the forecast period.

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This release was published on openPR.