Compound Semiconductor Market Competitive Landscape, Growth Factors, Revenue Analysis by 2030

Compound Semiconductor Market: Overview

The compound semiconductor market has been anticipated to grow at a noticeable speed in the forthcoming years. Market growth across the world has been possible because of the growing demand as well as the implementation of SiC and GaN in the industry. In addition to this, the rising use of compound semiconductors in the LED application is also predicted to propel demand opportunities in the market during the forecast period.

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In recent years, LEDs are used as the replacement of different light sources, for example, CFLs, fluorescent applications, and incandescent bulbs. Further, LEDs are penetrating at a rapid speed in various applications, such as signage displays, automotive lighting, and general lighting. This increasing application rate of LEDs is projected to create demand opportunities in the upcoming years.

Compound semiconductor materials are comprised of LEDs and these materials have been made from group V and group III of the periodic table. Gallium phosphide (Gap), gallium arsenide (GaAs), and gallium nitride (GaN) are the group III-V materials that are used in these semiconductors.

Compound Semiconductor Market: Key Trends

In recent years, there has been a noteworthy increase in the use of RF power in aerospace, defense, and military applications that further provides growth impetus in the compound semiconductor market. The growing use of devices with RF power in different fields, for example, radar systems and avionic are likely to create growth avenues in the market for applications in the military and aerospace. Further, the use of GaAs and InP for the development of advanced and novel products has been predicted to boost the growth of aerospace, defense, and military applications in the market.

On the flip side, high expenditure for the complete industry processes involved in the supply chain is restraining growth avenues in the compound semiconductors market. The primary reason for this increased cost is that all the processes are new, complex, need high-priced state-of-the-art equipment, and employ advanced technologies. In addition to this, the lack of required expertise and familiarity in the manufacturing processes among executives and the engineering community are also curtailing growth impetus in the market.

Packaging and complex design of these devices are also serving as the vital factors to affect the performance of these semiconductors and this factor is estimated to create some hurdles in the expansion avenues in the market.

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Compound Semiconductor Market: Competitive Dynamics and Key Developments

The key players dealing in the compound semiconductor market have been incorporating various strategies to develop growth avenues in the upcoming years. Some of these market strategies are novel product introductions and approvals, R & D activities, technological partnerships and collaborations, mergers and acquisitions, strategic initiatives, training services, and regional expansion are incorporated by the prominent players to establish a stronghold in the market.  

For instance, OSRAM, ams's subsidiary, has launched a novel OSRAM 24V TEC Flex family in May 2020. It provides uniform illumination for the broad range of outdoor and indoor applications.

The key players in the compound semiconductor market are:

Samsung Electronics 
Skyworks
Nichia  
Qorvo
ams 

Compound Semiconductor Market: Regional Assessment

The compound semiconductor market has been divided into Europe, North America, the Middle East & Africa, Asia Pacific, and Latin America on the basis of geographical locations. The Asia Pacific region has been expected to present innumerable growth opportunities in the regional market. This market dominance has been possible with the increasing demand for devices in different industry verticals, for example, aerospace and defense, automotive and military, and telecommunication. India, the Philippines, Taiwan, Japan, and China are among the prominent countries to boost demand opportunities in the market. In addition to this, the commercialization of 5G services in the APAC region is also predicted to drive demand opportunities in the regional market.

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