Compound Semiconductor Market size is set to grow by USD 17.56 bn from 2024-2028, Advanced Wireless Semiconductor Co., AXT Inc. & Broadcom Inc., and more to emerge as Some of the Key Vendors- Technavio

NEW YORK, March 15, 2024 /PRNewswire/ -- The global compound semiconductor market size is estimated to grow by USD 17.56 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of  7.03% during the forecast period. APAC held the largest share of the global market in 2023, and the market in the region is estimated to witness an incremental growth of 73%.  

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Key Company

Compound Semiconductor Market is fragmented; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Compound Semiconductor Market report includes information on the product launches, sustainability, and prospects of leading vendors including Advanced Wireless Semiconductor Co., AXT Inc., Broadcom Inc., Infineon Technologies AG, IQE Plc, Microchip Technology Inc., Micron Technology Inc., Mitsubishi Electric Corp., Nichia Corp., NXP Semiconductors NV, Qorvo Inc., Qualcomm Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Skyworks Solutions Inc., Sony Group Corp., STMicroelectronics International NV, Texas Instruments Inc., Toshiba Corp., Wolfspeed Inc. 

Key benefits for Companies

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players.
• Data is qualitatively analyzed to categorize vendors as pure play, category focused, industry focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. Expand operations in the future.

Technavio has identified key trends, drivers, and challenges in the market, whichwill help clients improve their strategies to stay ahead of their competitors. Download Now

Market Sizing

The Compound Semiconductor Market encompasses the production and sale of semiconductor materials, primarily SiC devices and GaN ecosystem, for various applications. SiC power devices dominate the market in power electronics, supplying components for solar inverters, power supplies, and wind turbines. The GaN ecosystem is gaining traction due to its versatility, with applications in power electronics across verticals, including aerospace, medical, and defense. Despite the market's growth, high material and fabrication costs and complex supply chains remain challenges. The SiC power device market is expected to expand due to increasing demand for efficient power conversion, while the GaN ecosystem continues to develop new applications.

Geographic Landscape

The Compound Semiconductor Market in APAC is experiencing significant growth due to the increasing demand for SiC devices in power electronics, particularly in the GaN ecosystem. Urbanization and economic stability have driven the demand for automobiles, leading to increased sales of SiC power devices for use in solar inverters, power supplies, and wind turbines. Power electronics are finding applications across various verticals, including aerospace, medical, and defense. However, high material and fabrication costs and complex supply chains pose challenges to the compound semiconductor industry's growth. The SiC power device market is expected to continue expanding due to its efficiency and reliability benefits.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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