The compound semiconductor is integrated on a semiconductor single crystal chip by interconnecting active components such as transistors and diodes and passive components such as resistors and capacitors by a certain circuit. Compound semiconductors mainly refer to the second and third-generation semiconductors such as gallium arsenide (GaAs), gallium nitride (GaN), and silicon carbide (SiC). Compared with the first generation single-element semiconductors, they have much better high-frequency and high-temperature performance.
The global compound semiconductor market projected to grow at a substantial rate in the future. It is owing to its unique properties like high frequency, high operational temperature, and high bandgap. A compound semiconductor has an extensive application base as its material consumes less power with broad temperature limits and, it is used for fabrication of integrated circuits and electronics’ film coating.
With the acceleration of 5G and the electrification of automobiles, the use of compound semiconductors is increasing. The proportion of wireless control and data connections in home electronics is growing, and audio and video devices are becoming more wireless. Coupled with the increasing popularity of notebook computers, the market for such products has brought new opportunities for the application of compound semiconductors.
LEDs are a tiny bulb that can easily fit in the electric circuit and have high efficiency and low power life and, if properly installed, can function for a decade. LED usage has been increased over a while due to its various applications among smart gadgets like Mobiles, Smartwatches, PCs, Tablets, and others. LED has a GaN-based compound that has light-emitting diodes and are cost-effective and also operates at a lower voltage. Therefore, LED companies are exploring new opportunities and technology in the market, which will bolster the growth of the global compound semiconductor market.
The compound semiconductors market is boosting due to its high radiation resistance, which is required for scientific applications. A semiconductor is made up of silicon and gallium, which reduce the weight of the rocket. Moreover, the semiconductor has reduced the weight and size of the electrons, which are found in rockets.
Based on Type, the global compound semiconductor market classified into Gallium Nitride (GaN), Gallium Arsenide (GaAs), Indium Phosphide (InP), Silicon Germanium (SiGe), Silicon Carbide (SiC), and Gallium Phosphide (GaP). Gallium Nitride (GaN) has captured a strong market base and will forecast to grow at a substantial rate. Due to higher frequency and high-power range compared to others. Moreover, Gallium arsenide (GaAs) is the core material for wireless communications, benefiting from 5G megatrends. Compared with the first generation of silicon semiconductors, gallium arsenide has the characteristics of high frequency, radiation resistance, and high-temperature resistance, so widely used in mainstream commercial wireless communications, optical communications, and military defense applications.
Based on the product, the global compound semiconductor market categorized into LED, RF, Optoelectronics, and Power Electronics. The LED segment has anticipated the biggest among others in the compound semiconductor market. LEDs are made up of GaN semiconductors, which are cost-effective and long durability. Moreover, LEDs are extensively used in gadgets like smartphones, smartwatches, and many others. Therefore, demand for LEDs is increasing owing to its various properties that are catering to multiple industries.
Based on application, the global compound semiconductor market classified into Telecommunications, General Lighting, Military & Defense, Datacom, and Automotive. The telecommunications segment has captured the largest market share. Owing to an increase in wireless technology as semiconductors provide wide temperature limits, lower power consumption, and high electron mobility, which are useful for device and equipment. Moreover, the compound semiconductor used in space applications for coating rockets and jumpsuits for resisting radiation.
Based on geography, the global compound semiconductor market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific region expected to be projected higher growth in the forecast period from 2020-2027. Owing to increasing LED demand in the lighting segment like automotive lighting, and telecommunication segment. China and India and many other countries in the APAC region are majorly focusing on adopting 5G technology, which would increase the infrastructure as well as demand for compound semiconductors in the market.
Companies such as Nichia, Samsung Electronics, OSRAM, Qorvo and Skyworks, Cree, GaN Systems, Infineon, Mitsubishi Electric, NXP Semiconductors, ON Semiconductor, Analog Devices, Broadcom, Efficient Power Conversion Corporation, Lumentum, NeoPhotonics, San’an Optoelectronics, STMicroelectronics and others are the key players in the global compound semiconductor market.
Middle East & Africa