The global smart sensor 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. The compound semiconductors market holds a substantial scope for growth in the global market. Currently, it is in its growing stage; however, its contribution to the global market is expected to witness significant growth within the next six years. High cost associated with compound semiconductor wafer manufacturing is a major limitation for the market growth.
However, recent innovations, which implant high efficiency and innovative features in smart devices, have enabled the technology to reach a wider audience base. Numerous players are entering the compound semiconductors market with innovative products. Emerging development in IoT and growth of autonomous products are expected to drive the market growth in the future.
The factors such as advantage of compound semiconductor wafers over silicon-based wafers, increase in demand for compound semiconductor epitaxial wafer in consumer electronics, and emerging trends toward wafers in automotive industry drive the market growth to a certain extent. However, increase in cost of wafer manufacturing is expected to pose a major threat to the compound semiconductor epitaxial wafer market globally. However, emerging usage of compound semiconductors in smart technologies and increasing popularity of IoT in wafers are expected to provide lucrative opportunities for the market growth globally.
The global compound semiconductor market is analyzed across type, deposition technology, application, and geography. Based on type, the market is categorized into III-V compound semiconductors, II-VI compound semiconductors, sapphire, IV-IV compound semiconductors, and others. The III-V compound semiconductors segment is further divided into gallium nitride (GAN), gallium phosphide (GAP), gallium arsenide (GAAS), indium phosphide (INP), and indium antimonide (INSB).
The II-VI compound semiconductors segment is classified into cadmium selenide (CDSE), cadmium telluride (CDTE), and zinc selenide (ZNSE). The IV-IV compound semiconductors segment is bifurcated into silicon carbide (SIC) and silicon germanium (SIGE). The others segment includes aluminum gallium arsenide (ALGAAS), aluminum indium arsenide (ALINAS), aluminum gallium nitride (ALGAN), aluminum gallium phosphide (ALGAP), indium gallium nitride (INGAN), cadmium zinc telluride (CDZNTE), and mercury cadmium telluride (HGCDTE).
By deposition technology, the market is segmented into chemical vapor deposition (CVD), molecular beam epitaxy (MBE), hydride vapor phase epitaxy (HVPE), ammonothermal, liquid phase epitaxy (LPE), atomic layer deposition (ALD), and others. On the basis of product, compound semiconductors are categorized into power semiconductor, transistors, integrated circuits (ICs), diodes & rectifiers, and others.
The transistors segment is further classified into high electron mobility transistors (HEMTs), metal oxide semiconductor field effect transistors (MOSFETs), and metal semiconductor field effect transistors (MESFETs). Integrated circuit is bifurcated into monolithic microwave integrated circuits (MMICs) and radio frequency integrated circuits (RFICs). The diode & rectifiers segment is further segmented into PIN diode, Zener diode, Schottky diode, and light emitting diode.
On the basis of applications, the market is studied across IT & telecom, industrial and energy & power, aerospace & defense, automotive, consumer electronics, and healthcare. IT & telecom is further segmented into signal amplifiers & switching systems, satellite communication applications, radar applications, and RF. Aerospace & defense is classified into combat vehicles, ships & vessels, and microwave radiation. Industrial and energy & power is further segmented into wind turbines and wind power systems.
Consumer electronics is further segmented into inverters, LED lighting, and switch mode consumer power supply systems. The automotive segment is further divided into electric vehicles & hybrid electric vehicles, automotive braking systems, rail traction, and automobile motor drives. The healthcare segment is further bifurcated into implantable medical devices and biomedical electronics. By region, the compound semiconductor market is analyzed across North America, Europe, Asia-Pacific and LAMEA, along with its prominent countries.
The key 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 have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
Key Benefits For Stakeholders
- This study includes the analytical depiction of the compound semiconductor market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities in the compound semiconductor market.
- The compound semiconductor market growth is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter;s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Compound Semiconductor Market Segmentation
By Type
- III-V Compound Semiconductors
o Gallium Nitride
o Gallium Phosphide
o Gallium Arsenide
o Indium Phosphide
o Indium Antimonide
- II-VI Compound Semiconductor
o Cadmium Selenide
o Cadmium Telluride
o Zinc Selenide
- Sapphire
- IV-IV Compound Semiconductors
o Silicon Carbide
o Silicon Germanium
- Others
o Aluminum Gallium Arsenide
o Aluminum Indium Arsenide
o Aluminum Gallium Nitride
o Aluminum Gallium Phosphide
o Indium Gallium Nitride
o Cadmium Zinc Telluride
o Mercury Cadmium Telluride
By Deposition Technology
- Chemical Vapor Deposition
o Metal Organic Chemical Vapor Deposition (MOCVD)
- Molecular Beam Epitaxy
o Metal Organic Molecular Beam Epitaxy
- Hydride Vapor Phase Epitaxy (HVPE)
- Ammonothermal
o Liquid Phase Epitaxy
- Atomic Layer Deposition
- Others
By Product
- Power Semiconductor
- Transistor
o High Electron Mobility Transistors
o Metal Oxide Semiconductor Field-Effect Transistors
o Metal Semiconductor Field-Effect Transistors
- Integrated Circuits
o Monolithic Microwave Integrated Circuits
o Radio Frequency Integrated Circuits
- Diodes and Rectifiers
o PIN Diode
o Zener Diode
o Schottky Diode
o Light-Emitting Diode
- Others
By Application
- IT & Telecom
o Signal Amplifiers and Switching System
o Satellite Communication
o Radar
o RF
- Industrial and Energy & Power
o Smart Grid
o Wind Turbines & Wind Power System
o Photovoltaic Inverters
o Motor Drives
- Aerospace & Defense
o Combat Vehicles
o Ships & Vessels
o Microwave Radiation
- Automotive
o Electric Vehicle & Hybrid Electric Vehicles
o Chemical Vapor Deposition Braking System
o Rail Traction
o Automobile Motor Drives
- Consumer Electronics
o Invertors
o LED Lighting
o Switch Mode Consumer Power Supply System
- Healthcare
o Implantable Medical Device
o Biomedical Electronics
By Region
- North America
o U.S.
o Canada
o Mexico
- Europe
o UK
o Germany
o France
o Rest of Europe
- Asia-Pacific
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa