Compound Semiconductor Market Generate USD 76.58 Bn by 2030, CAGR 9.5 Percent

Due to technological advancements, strategic investments, and increasing demand across application areas, the global compound semiconductor market is witnessing significant growth. As per Maximize Market Research, the Khronolite Market was valued at around USD 40.57 billion in 2023 and is expected to develop at a significant CAGR of 9.5%, reaching around USD 76.58 billion by 2030.

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Market Overview, Growth Factors & Opportunities

The strong growth of the Compound semiconductor market can be attributed to a few major factors:

Key Drivers Behind the Growth Compound semiconductor market is driven by various factors, some of which include the innovation of wireless technology and MQTT adopted through 5G deployment: Emerging wireless technology, especially enforcing 5G technology has boosted the compound semiconductor market as they offer enhanced properties such as low-loss and high-speed wireless communication compared to silicon-based semiconductors. Analysis of these materials is important for high-speed and high-frequency applications, e.g., advanced power amplifier and millimeter-wave technologies, which are vital to efficient 5G infrastructures.

Increased Demand for Energy-Saving Electronics Till October 2023: Global focus on energy efficiency and sustainable technologies have speed up the demand for compound semiconductor materials such as silicon carbide (SiC) and GaN. These materials provide substantial benefits in terms of power efficiency, thermal management, and miniaturization relative to traditional silicon-based semiconductors, which are well-suited for electric vehicles (EVs), renewable energy systems, and smart grids.

Growth in Consumer Electronics and Automotive Industries: Growth in the consumer electronics industry, especially in 5G devices, and the automotive industry, particularly for electric vehicles (EV), has contributed to the expansion of the compound semiconductor industry. This specific sector is indispensable to theirs as they outperform in power management and high-frequency operations.

The United States compound semiconductor market in 2024 experienced major updates:

Siemens to Increase U.S. Manufacturing: Siemens revealed plans to invest $285 million in U.S. manufacturing, creating new locations in California and Texas. By developing manufacturing capabilities and adopting the latest artificial intelligence (AI) advancements, this initiative, which will create 900+ skilled jobs. Siemens' investment enables and reinforces its promise for a strong U.S. semiconductor supply chain and supports the increasing demand across advanced technologies.

Onsemi Investment Report: Onsemi - $6.9bn hostile bid for Allegro MicroSystems - further surface area in automotives semis Both companies provide chips that are key to many electric vehicle (EV) functions, and this deal highlights the broader trend of consolidation in the industry to satisfy growing demand for automotive semiconductors.

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Market Segmentation with Highest Market Share

The compound semiconductor has been segmented based on types and applications:

By Product:

Power Electronics: This sector accounted for the highest market share in 2023, fueled by the increasing integration of smart home appliances and sophisticated consumer electronics into daily life. The development of GaN technologies has improved the performance of consumer wireless electronics and they are being utilized practically everywhere.

By Application:

Telecom: The telecom application segment accounted for the largest share of the market, driven by increasing 5G infrastructure and the growing demand for high-performance communication systems. The growing penetration of compound semiconductors in telecom infrastructure and devices like smartphones has acted as a key growth driver.

Competitive Analysis

The global compound semiconductor market is segmented on the basis of companies, region, types and applications.

Nichia Corporation (Japan): Nichia is a key manufacturer for LED and laser diode technologies, driving their way towards improved and efficient lighting solutions.

Samsung Electronics (South Korea, OP-EDS): A leading company in the semiconductor industry, Samsung has focused its resources on the development of compound semiconductor technologies, especially GaN power electronics, to improve the performance of its products, particularly consumer electronics.

Infineon Technologies (Germany): Infineon has made great progress in the field of SiC technology, with the first products based on 200 mm SiC wafers due to be available to customers by Q1 of 2025. Targeted applications for SiC power devices are in renewable energy systems, trains, and electric vehicles.

Wolfspeed Inc. (USA): Wolfspeed introduced Gen 4 SiC technology platform that aims to simplify switching behavior and design concerns often encountered in high power designs. The Gen 4 platform, to be offered on 750V, 1200V and 2300V devices, is anticipated in 200 mm wafer shipments.

Qorvo (USA): Qorvo has undertaken significant R&D efforts in GaN-based front-end modules to lower overall system costs for base station equipment in response to the booming telecommunication market.

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Regional Analysis

Compound Semiconductor Market- Growth Dynamics by Region:Regional demand for compound semiconductors has been growing at different speeds:

United States: Significant investments have been made in semiconductor manufacturing in the U.S., with Onsemi and Siemens expanding their operations. Government programs like the CHIPS and Science Act are trying to ensure semiconductor manufacturing at home, rather than relying on foreign suppliers.

United Kingdom: The UK government has been supporting semiconductor research, development, and commercialization through initiatives such as the Industrial Strategy Challenge Fund and Innovate UK. SEMI anticipates that these investments will help increase the nation's competitiveness in the semiconductor industry and accelerate market development.

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