DUBLIN--(BUSINESS WIRE)--The "Global Compound Semiconductor Market by Type (GaN, GaAs, SiC, InP), Product (LED, Optoelectronics, RF Devices, Power Electronics), Application (Telecommunication, General Lighting, Automotive, Consumer Devices, Power Supply) & Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global compound semiconductor market size is estimated to be USD 40.5 billion in 2022 and is projected to reach USD 55.8 billion by 2027, at a CAGR of 6.6% during the forecast period. The market has promising growth potential due to several factors, such as the rise in demand and implementation of GaN and SiC in the semiconductor industry.
A compound semiconductor is a semiconductor made from two or more elements from two or more different periodic table groups. For example, one element from column III and one from column V of the periodic table are called compound III-V semiconductors, such as Gallium Arsenide (GaAs), Indium Phosphide (InP), and Gallium Nitride (GaN). Electrons in compound semiconductors move faster than electrons in silicon, which enables high-speed processing and operations at lower voltages.
SiC: The fastest-growing segment of the compound semiconductor market, by type
SiC has been experiencing significant growth owing to its wide use in power discrete components and devices, such as MOSFETs, junction field effect transistors (JFETs), and Schottky barrier diode (SBDs). Compared with other compound semiconductors, SiC has a wider bandgap and can operate at higher temperatures and voltages (up to 1,200 V). Therefore, SiC is expected to be used in high-power applications. SiC is used in electric vehicles, wireless charging, and power supplies.
Telecommunications: The largest segment of the compound semiconductor market, by application
Telecommunication is a leading application segment of the compound semiconductor market owing to the increased use of compound semiconductors such as GaAs, GaN, InP, and SiGe. The market for telecommunication applications is expected to cater to the largest share during the forecast period. 5G is providing a huge opportunity for compound semiconductors for telecom applications. The growth of telecommunication applications is driven by increasing demand for RF devices.
The study includes an in-depth competitive analysis of these key players in the compound semiconductor market, with their company profiles, recent developments, and key market strategies.
Market Dynamics
Drivers
- Continuous Emergence of Technologies in the GaN Ecosystem
- Rise in Demand and Implementation of GaN and SiC in the Semiconductor Industry
- Growing Demand for SiC Devices in Power Electronics
Restraints
- High Material and Fabrication Costs Associated with Compound Semiconductors
Opportunities
- Applications in Electric and Hybrid Electric Vehicles
- Potential Use of GaN in 5G Infrastructure Development
Challenges
- Complexity in the Design of Compound Semiconductors
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Compound Semiconductor Deposition Technologies
7 Compound Semiconductor Market, by Type
8 Compound Semiconductor Market, by Product
9 Compound Semiconductor Market, by Application
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- AMS Osram AG
- Analog Devices, Inc.
- Broadcom Inc.
- Efficient Power Conversion Corporation
- Gan Systems
- II-VI Incorporated
- Infineon Technologies AG
- Lumentum Holdings Inc.
- Macom Technology Solutions Holdings, Inc.
- Microchip Technology Inc.
- Mitsubishi Electric Corporation
- Nichia Corporation
- Nxp Semiconductors N.V.
- on Semiconductor Corporation
- Qorvo, Inc.
- Qualcomm Technologies, Inc.
- Renesas Electronics Corporation
- Rohm Co. Ltd.
- Samsung Electronics Co. Ltd.
- San'an Optoelectronics Co. Ltd.
- Skyworks Solutions, Inc.
- STMicroelectronics N.V.
- Transphorm Inc.
- Visic Technologies Ltd.
- Wolfspeed, Inc.
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