Compound Semiconductor Materials Market Size Worth $46.9 Million By 2027: Grand View Research, Inc.
SAN FRANCISCO, Aug. 4, 2020 /PRNewswire/ -- The global compound semiconductor materials market size is expected to reach 46.9 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.8% from 2020 to 2027. The market is expected to be driven by an increase in product demand from the end-use industries due to its ability to consume less power, along with the broad temperature range and high electron mobility.
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Read 74 page research report with ToC on "Compound Semiconductor Materials Market Size, Share & Trends Analysis Report By Product (Group IV-IV, Group III-V, Group II-VI), By Application (Electronics & Consumer Goods, Telecommunication), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/compound-semiconductor-materials-market
The expansion of China's integrated circuit production is expected to have a positive impact on market growth. China is expected to witness substantial growth of over 10% in the production by 2023, thereby becoming one of the largest manufacturers in Asia. However, the drop in the production of the semiconductor industry across th globe due to the COVID-19 outbreak is expected to have an adverse impact on the demand for compound semiconductor materials.
Manufacturers are largely dependent on reliable suppliers having high goodwill on account of past product procurement, making it difficult for new entrants to penetrate into the market. In addition, the market exhibits the presence of several well-established players with a strong financial base, thereby limiting the entry of new market players.
The market exhibits high industry rivalry owing to the presence of a large number of manufacturing firms in the marketspace. However, there is an ongoing struggle among these players to capitalize on the novel avenues for growth. The presence of a number of companies in the market results in a high level of competition, which, in turn, has elevated the competitive rivalry.
Grand View Research has segmented the global compound semiconductor materials market on the basis of product, application, and region:
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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