Worldwide Global Compound Semiconductor Market Size to Exceed USD 73.71 Billion by 2032, Exhibiting 6.4% CAGR: Polaris Market Research

NEW YORK, March 1, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Compound Semiconductor Market Share, Size, Trends, Industry Analysis Report, By Product (LED, Optoelectronics, RF Devices, Power Electronics, Diode, Bare Die, Module, and Others); By Application; By Type; By Region; Segment Forecast, 2023-2032" published by Polaris Market Research in its research repository.

According to the latest research study, the demand of global compound semiconductor market size & share was valued at approximately USD 39.53 billion in 2022. The market is expected to grow above a CAGR of 6.4% and is anticipated to reach over USD 73.71 Billion by 2032.

What is Compound Semiconductor Market? How Big is Compound Semiconductor Market Size?

• Report Overview

Compound semiconductors are semiconductors made from two or more elements. Most compound semiconductors are from a combination of elements from Group III and Group V of the periodic table of elements. The rapidly rising demand for the compound semiconductor market can be attributed to the cost of manufacturing compound semiconductors coming down. The special properties of these crystals have become more important for some applications.

Growing product use in various electronic applications, including electronic film coatings, electronic water, and integrated circuits, is expected to drive the market. Growing industrialization has led to increased data transactions, thereby boosting the market growth. Compound semiconductors are used in scientific applications such as rocket coatings and jumpsuit coatings owing to their high radiation resistance.

Request Sample Copy of Compound Semiconductor Market Research Report @ https://www.polarismarketresearch.com/industry-analysis/compound-semiconductor-market/request-for-sample

(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Key data covered in the market report

• Detailed information on factors that will fuel or hamper the market growth prospects.
• Potential market CAGR projections over the forecast period.
• Precise market size estimations of the industry.
• Accurate upcoming trends and consumer behavior pattern predictions.
• Potential expansion prospects for the market.

Some of the Top Market Players Are:

• Nichia Corporation
• Samsung Electronics
• Qorvo Inc.
• Wolfspeed Inc.
• GaN Systems
• Canon Inc.
• Infineon Technologies
• Mitsubishi Electric Corporation
• Skyworks Solutions
• Analog Devices
• Renesas Electronics Corporation
• Taiwan Semiconductor Manufacturing
• Cree Inc.
• Texas Instruments

To know an additional revised list of top market players, request to download a PDF brochure, 2023-2032: https://www.polarismarketresearch.com/industry-analysis/compound-semiconductor-market/request-for-sample

Compound Semiconductor Market: Report Scope & Key Segmentation

Key factors driving market growth

• Increasing usage of 5G connectivity to push the market

5G connectivity offers huge opportunities for compound semiconductor manufacturers for telecom applications. The compound semiconductor market size is expanding due to rising demand for radio frequency semiconductor devices. Additionally, the telecom sector is rapidly advancing in both developed and developing regions globally. The technological shift from 3G to 4G and now into 5G connectivity has escalated network traffic through smartphones and triggered increased network interferences across communication channels.

The increased product demand in light-emitting diode applications globally creates a positive outlook for market growth. Compound semiconductor market sales are soaring due to significant growth in the electronics industry, which has extensive applications in high-frequency devices, information displays, and optical devices. Further, the increasing utilization of technologies such as machine learning, artificial intelligence, and the Internet of Things for the manufacturing of compound semiconductors is providing an impetus to market growth.

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Recent trends influencing the market

Decrease in manufacturing costs to drive the market

• Compound semiconductors possess unique properties such as high temperature and heat resistance, enhanced frequency, increased sensitivity to magnetism, and faster operation, and optoelectronic features are some of the key advantages boosting their demand. Moreover, the decrease in manufacturing costs has increased their applications in electronic and mobile devices.
• The ability of compound semiconductors to emit and sense light in the form of general lighting and lasers and receivers from fiber optics is further driving the demand. The decrease in manufacturing and installation costs of LEDs has increased its applications in lamps and fixtures across all sectors.

Segmentation assessment

• The power electronic segment accounted for the largest market share

Based on product, the power electronic segment accounted for the largest market share. Compound semiconductor market demand is rising due to the rapidly growing adoption of power electronic modules in smart home devices, which are projected to grow significantly with the purchase of advanced consumer electronics.

• The telecommunication segment held the highest market share

Based on application, the telecommunication segment held the highest market share. Compound semiconductor market trends include increased demand and need for semiconductor elements across several wireless and mobile communication because of the superior efficiency and speed of semiconductors.

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(Inquire a report quote OR available discount offers to the sales team before purchase.)

Geographic Overview

• Escalating proliferation of wireless communication technologies to propel the Asia Pacific market

Asia Pacific held the largest compound semiconductor market share due to escalating demand and proliferation for wireless communication technologies along with the growth in the adoption of consumer electronics in countries such as China and India. The region has encountered significant growth potential for various new and advanced technologies and a shift in consumer trends towards innovative and smart solutions, which is expected to contribute positively.

North American region is anticipated to register the highest growth rate over the coming years. It is mainly accelerated by gallium nitride technology in radar, communication systems, and electronic warfare to meet the high power, high performance, and longer life cycle demands in the region.

Browse the Detail Report "Compound Semiconductor Market Share, Size, Trends, Industry Analysis Report, By Product (LED, Optoelectronics, RF Devices, Power Electronics, Diode, Bare Die, Module, and Others); By Application; By Type; By Region; Segment Forecast, 2023-2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/compound-semiconductor-market   

For Additional Information OR Media Enquiry, Please Mail At: [email protected]

Recent Developments

• In August 2022, ON Semi announced the opening of its new silicon carbide facility in Hudson. With this new facility, the company will increase its silicon carbide capacity over five times and ensure the on-time supply of critical components for its customers. As, SiC is very crucial for enabling efficiency in EV charging, & energy infrastructure & contributing significantly to decarbonization.

Polaris Market Research has segmented the compound semiconductor market report based on product, application, type, and region:

By Product Outlook

• LED
• Optoelectronics
• Power Electronics
• Diode
• Bare Die
• Module
• Others

By Application Outlook

• General Lighting
• Telecommunication
• Military, Defense, and Aerospace
• Automotive
• Power Supply
• Datacom
• Consumer Display
• Commercial
• Consumer Devices
• Others

By Type Outlook

• GaN
• GAAS
• SiC
• INP
• SIGE
• GAP
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research

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