Market Highlights
Global Compound Semiconductor Market Growth is expected to reach USD 4,465.2 Million by 2026, registering a CAGR of 6.53% during the forecast period of 2020–2026. Factors such as rising investments in the development of electric vehicles, increasing government initiatives for adoption of 5G, and increasing demand for high-speed transceivers in the data center is expected to drive the demand for Compound Semiconductor across the globe.
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Key Players
The Key Players profiled in the Compound Semiconductor Market Growth research report Nichia Corporation (Japan), Samsung Electronics (South Korea), AMS AG (Austria), Qorvo, Inc. (US), Skyworks Solutions, Inc. (US), Cree Inc. (US), GaN Systems, Inc. (Canada), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), NXP Semiconductors NV (Netherlands), and ON Semiconductor (US) among others.
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Segmental Analysis
On the basis of product, the market has been segmented into Optoelectronics, RF devices, and power electronics. The optoelectronics segment is further sub-segmented into LED, image sensors, laser diode, optocouplers, and photovoltaic cells. The optoelectronics segment dominated the market in 2019, whereas the power electronics segment is expected to register the highest CAGR during the forecast period from 2020 to 2026.
On the basis of application, the market has been segmented into lighting, telecommunication, aerospace defense, automotive, consumer display, and others. The lighting segment is expected to dominate the review period. The telecommunication segment is expected to register the highest CAGR during the forecast period.
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Regional Analysis
The geographical analysis of the Global Compound Semiconductor Market has been done for North America, Europe, Asia-Pacific, and the rest of the world.
The North American market has been segmented into the US, Canada, and Mexico. The regional market is expected to account for the largest share of the global Compound Semiconductor market during the review period. The growth of the market in North America can be attributed to the high concentration of market players and the easy availability of proficient technical expertise in the region. Furthermore, rising demand for high-speed internet and the requirement for maintaining data traffic in two-way communication is expected to drive the demand for Compound Semiconductor in the region.
In terms of market size, Europe is expected to hold the second-largest share in the Compound Semiconductor market. The European market has been divided into the UK, Germany, France, and the rest of Europe. In Germany rise in demand for electric vehicles is driving the market growth. The region is witnessing a rise in partnership amongst the key market players. However, political instability in countries such as the UK hinders the growth of the Europe Compound Semiconductor market.
The market in Asia-Pacific is expected to register the highest growth during the review period of 2020 to 2026. The regional market has been classified as China, Japan, India, South Korea, and the rest of Asia-Pacific. Japan and China are among the leading revenue generators in the Asia-Pacific Compound Semiconductor market. The rapid growth of the automotive, electrical, and electronics industry in the region is expected to positively impact the market during the forecast period.
