2024 Global Indium Phosphide Compound Semiconductor Market Size, Share, Trends And Growth Analysis Report | AXT Inc., Sumitomo Electric Industries Ltd., II-VI Incorporated, Wafer World Inc., IQE plc

"The indium phosphide compound semiconductor market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to telecommunications infrastructure growth, demand in defense and aerospace, fiber optic network deployments, satellite communication systems, rise in high-speed data transmission.

The indium phosphide compound semiconductor market size is expected to see rapid growth in the next few years. It will grow to $9.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to emergence of quantum computing, growing demand in healthcare imaging, optical sensing and lidar applications, space exploration and satellite technology, data center expansion. Major trends in the forecast period include focus on monolithic microwave integrated circuits (mmics), emergence in power electronics, innovations in quantum dot lasers, development of high-speed transistors, increasing focus on environmentally friendly manufacturing.

Market Overview -
Indium phosphide is a binary semiconductor composed of indium and phosphorus. It has a face-cantered cubic (zincblende) crystal structure, identical to that of GaAs and most III-V semiconductors. It is used as the basis for optoelectronic components, high-speed electronics, and photovoltaics.

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Exploring The Indium Phosphide Boom In Aerospace And Defense
The rising demand in the aerospace and defense industries is expected to propel the growth of the indium phosphide compound semiconductor market going forward. The aerospace and defense industries refer to the sectors involved in the design, development, production, and maintenance of aircraft, spacecraft, and defense systems. These industries are comprised of companies that manufacture and supply products and services to the military, government agencies, and commercial customers. In the aerospace and defense industries, indium phosphide wafers are used in optoelectronic devices such as laser diodes, photodetectors, LEDs, and optical transceivers in optical fiber communication systems. For instance, in November 2022, according to the Aerospace Industries Association (AIA), a US-based trade association, the aerospace and defense industry's exports increased by 11.2% to a total value of $100.4 billion between 2020 and 2021. Therefore, the rising demand in the aerospace and defense industries is driving the growth of the indium phosphide compound semiconductor market.

Competitive Landscape -
Major companies operating in the indium phosphide compound semiconductor market report are AXT Inc., Sumitomo Electric Industries Ltd., II-VI Incorporated, Wafer World Inc., IQE plc, Intelligent Epitaxy Technology Inc., Xiamen Powerway Advanced Material Co. Ltd., Infinera Corporation, Keysight Technologies, Beijing Tongmei Xtal Technology Co., MACOM Technology Solutions, Logitech Ltd., Semiconductor Wafer Inc., CoorsTek, Samsung Semiconductor Inc., Western Minmetals Corporation, Century Goldray Semiconductor Co. Ltd., Ding Ten Industrial Inc., JX Nippon Mining & Metals Corporation, Lumentum Operations LLC, NeoPhotonics Corporation, Broadcom Inc., Finisar Corporation, Oclaro Inc., Emcore Corporation, Fujitsu Optical Components Limited, Foxconn interconnect technology Ltd., Accelink technologies Co Ltd., Sony Corporation, ThousandEyes Inc.

Technological Frontiers Explored In The Indium Phosphide Market
Technological advancements are a key trend gaining popularity in the indium phosphide compound semiconductor market. Companies operating in the indium phosphide compound semiconductor market are adopting new technologies to sustain their position in the market. For instance, in May 2023, Infinera, a US-based optical networking solutions company, completed the industry's first testing of point-to-multipoint coherent pluggable transceiver technology in Japan in collaboration with Sumitomo Electric. The testing showed the role of XR optics technology in helping network operators in Japan cost-effectively keep pace with 5G bandwidth growth. Indium phosphide offers several advantages in XR optics technology as it can handle high frequencies and high power, making it ideal for high-speed transmission.

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Key Segments -
The indium phosphide compound semiconductor market covered in this report is segmented -
1) By Product: Power Semiconductors, Transistors, Integrated Circuits, Diodes And Rectifiers, Other Products
2) By Application: Power Electronics, Sensing, Photonics, Rf (Radio Frequency) And Microwave, Quantum
3) By End-User: IT And Telecom, Industrial And Energy And Power, Aerospace And Defense, Automotive, Consumer Electronics, Healthcare, Test And Measuring Instruments, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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