Compound Semiconductor Market Worth $43.4 Billion by 2025 - Emerging Technologies Revolutionizing the Semiconductor Industry
DUBLIN, Aug. 6, 2020 /PRNewswire/ -- The "Compound Semiconductor Market with COVID-19 Impact Analysis by Type (GaN, GaAs, SiC, InP), Product (LED, RF Devices, Power Electronics), Application (Telecommunication, General Lighting, Automotive, Power Supply), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global compound semiconductor market was valued at USD 36.4 billion in 2019 and is expected to register a CAGR of 6.3% from 2020 to 2025 to reach USD 43.4 billion by 2025.
Rise in demand and implementation of GaN and SiC in the semiconductor industry is set to drive the compound semiconductor market.
The market has a promising growth potential due to several factors, including high use of compound semiconductors in LED applications, an increase in government and stakeholder funding, and increasing demand for compound semiconductors in military, defense, and aerospace applications.
The major factor restraining the growth of the compound semiconductor market is the high expenditure involved in the complete industry processes in the supply chain. The total average expenditure per compound semiconductor device, of all the supply chain processes put together (including expenditure from both complete upstream and downstream), is much more than the average expenditure per pure silicon semiconductor device. The primary reason for this is that all processes are complex, new, employ advanced technologies, and require high-priced state-of-the-art equipment. This is expected to impact the compound semiconductor market negatively in coming years.
SiC: The fastest-growing segment of the compound semiconductor market, by type
SiC compound semiconductor is the fastest-growing segment of the compound semiconductor market, by type. SiC compound semiconductor is increasingly being used in electric and hybrid vehicles. With the growing adoption of electric and hybrd vehicles, the market for SiC is expected to register highest CAGR during the forecast period. SiC components exhibit increased reliability, greater efficiency, high operating temperature, reduced size, and high voltage capabilities, which make it the preferred material for various applications. SiC is also used in emerging applications, such as renewable energy generation mainly photovoltaics; electrified automobile systems including EV/HEV, trains, and buses; charging infrastructure; UPS; and motor drives.
LED: The largest segment of the compound semiconductor market, by product
LED is estimated to be the largest segment compound semiconductor market, by product. Various compound semiconductors are used to manufacture LEDs. GaN is mainly used in the manufacturing of white LEDs. The adoption of LEDs is increasing due to the decreasing prices of LEDs, rising consumer awareness about cost-effectiveness and eco-friendliness of LED lights, increasing investment in infrastructure enhancement, and favorable government initiatives to provide LED lights at subsidized cost in some countries. This is expected to drive the market for LEDs during the forecast period.
APAC: The fastest-growing region in the compound semiconductor market
The Asia Pacific region is expected to dominate the compound semiconductor market and is projected to grow at the highest CAGR during the forecast period. Increasing demand for LEDs from various end-use applications, rising adoption of LTE & 5G networks would provide an opportunity for RF compound semiconductors, increasing importance of electric vehicles & HEVs would create opportunity for compound semiconductor power electronics. Also, the development of data centers in these countries by companies such as Google (US), Facebook (US), and Microsoft (US) is projected to fuel the demand for compound semiconductors.
Other Key Players
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