Compound Semiconductor Market

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 Code: SE 2588 Jun, 2020, by marketsandmarkets.com

[249 Pages Report] The global compound semiconductor market is expected to grow from USD 32.0 billion in 2020 to USD 43.4 billion by 2025, at a CAGR of 6.3%. Increasing demand and implementation of GaN and SiC in the semiconductor industry is one of the primary factors driving market growth. Moreover, high use of compound semiconductors in LED applications will drive the demand for these products in the near future.

Compound Semiconductor Market

COVID-19 Impact on the Global Compound Semiconductor Market

The compound semiconductor market includes major Tier I and II players like Nichia, Samsung Electronics, Qorvo, and Skyworks. These players have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and RoW. COVID-19 has impacted their businesses as well.

  • In March 2020, Samsung Electronics suspended its operations in South Korea and for almost 45 days in India in March and April 2020 due to COVID-19 pandemic.
  • In March 2020, Qorvo announced that it has reduced its guidance for the January to March 2020 quarter and expects the revenue to fall as the outbreak of COVID-19 is impacting the smartphone supply and customer demand more than anticipated.
  • In April 2020, Skyworks temporarily suspended its Mexicali operations and has directed its workforce in Mexico to follow the government’s directive to remain at home. The company has stated that an extended suspension of the Mexicali operations beyond April 30, 2020, is expected to create a supply–demand gap and impact its operating results.

Compound Semiconductor Market Dynamics

Driver: High use of compound semiconductors in LED applications

LEDs are replacing various light sources such as incandescent bulbs, fluorescent bulbs, and CFLs. It is observed that there is increased penetration of LEDs in multiple applications, including general lighting, automotive lighting, and signage displays. LEDs comprise compound semiconductor materials, which are made from group III and group V elements of the periodic table (these are known as III-V materials). III-V materials that are commonly used to make LEDs are gallium nitride (GaN), gallium arsenide (GaAs), and gallium phosphide (GaP).

Restraint: High material and fabrication costs associated with compound semiconductors

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. Also, they lack familiarity and required expertise in manufacturing processes among the engineering community and executives of compound semiconductor industry players.

Opportunity: Increasing demand for compound semiconductors in military, defense, and aerospace

The increased usage of RF power in military, defense, and aerospace applications offers an opportunity for the growth of the compound semiconductor market in the future. The use of RF power devices in fields such as avionics and radar systems would help the growth of the market for military and aerospace applications. The use of InP and GaAs to develop newer and advanced products would further boost the growth of the military, defense, and aerospace applications in market. GaAs-based switches are used in military RF-based power devices in the MWIR band.

Challenge: Compound Semiconductors are complex to design

There is a high level of design complexity in the designing of compound semiconductor devices. The major challenge for designers is to achieve better efficiency while keeping the cost low and the structure less complex. Also, the varying requirements of different applications further increase the design complexities of the power and RF device. Apart from complex design, the packaging of these devices is a vital factor affecting the performance of the circuits and systems in which these circuits will be installed.

Power Electronics products are expected to witness the highest market growth during the forecast period

The compound semiconductor market for the power electronics products is expected to register the highest CAGR during the forecast period. This is mainly due to the increasing demand for SiC and GaN power semiconductors in applications such as hybrid and electric vehicles, power supplies, and photovoltaic (PV) inverters. The market is driven by increasing sales of hybrid and electric vehicles. Increasing demand for both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) will increase significantly in the coming years as many global governments aim to reduce air pollution. It is expected to drive the market for power electronics products.

Power Supply application is expected to witness the largest market growth during the forecast period

In the power supply industry, compound semiconductor devices are acting as game-changers. Compound semiconductors have reached various verticals and industries owing to the advantages it provides to end-user industries. GaN and SiC devices allow users to operate in the double-conversion mode and maintain high efficiencies. Using these devices in UPS can facilitate in size reduction, increase in power quality, and reduction in cost. These provide distinct advantages compared with its silicon and hybrid counterparts. The traditional silicon insulated-gate bipolar transistor (IGBT) has no advantage against power loss, but the hybrid modules that are based on compound semiconductors can reduce power loss up to 45%, and full GaN-based devices in UPS can reduce power loss up to 100%. This is expected to drive the market for power supply application during the forecast period.

APAC is the leading compound semiconductor market, globally, by value, in 2019

The market in APAC is expected to register the highest CAGR during 2020–2025. APAC presents huge opportunities for the compound semiconductor device market owing to the growing demand for these devices in numerous verticals, including telecommunication, automotive and military, and aerospace and defense in Asian countries such as China, Japan, Taiwan, the Philippines, and India. Also, with the commercialization of 5G services in countries such as China, South Korea, and Japan, the demand for compound semiconductors is projected to rise during the forecast period.

The recent COVID-19 pandemic is expected to impact the global semiconductor industry. The entire supply chain is disrupted due to limited supply of parts. Chinese suppliers around the globe have placed production lines on halt or shut them down completely. Also, legal and trade restrictions, such as sealed borders, increase the shortage of required parts. Such disruptions in supply chain is expected to affect the assembly of OEMs in Europe and North America.

Compound Semiconductor Market by Region

The compound semiconductor market is dominated by players such as Nichia (Japan), Samsung Electronics (South Korea), ams (Austria), Qorvo (US), and Skyworks (US).

Scope of the report

Report Metric

Details

Market size available for years

2016-2025

Base year considered

2019

Forecast period

2020-2025

Forecast units

Value (USD Million)

Segments covered

By Type, By Product, By Application

Geographies covered

North America, Europe, APAC, Rest of the World

Companies covered

The major market players include Nichia (Japan), Samsung Electronics (South Korea), ams (Austria), Qorvo (US), and Skyworks (US) (Total 25 companies)

The study categorizes the compound semiconductor market based on type, product, and application at the regional and global level.

By Type

  • Gallium Nitride (GaN)
  • Gallium Arsenide (GaAs)
  • Silicon Carbide (SiC)
  • Indium Phosphide (InP)
  • Silicon Germanium (SiGe)
  • Gallium Phosphide (GaP)
  • Others

By Product

  • LED
  • Optoelectronics
  • RF Devices
    • RF Power
    • RF Switching
    • Other RF Devices
  • Power Electronics

By Application

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

By Region

  • North America
  • Europe
  • APAC
  • Rest of the World

Recent Developments

  • In May 2020, OSRAM, the subsidiary of ams, launched a new OSRAM 24V TEC Flex family that offers uniform illumination for a broad range of indoor and outdoor applications. TEC Flex Tunable White (TW) can be used for continuously modulating the color temperature from 2700 K to 6500 K while maintaining a high color yield.
  • In March 2020, ON Semiconductor entered into a 5-year agreement with GT Advanced Technologies (GTAT) (US) for the production and supply of silicon carbide material. With this agreement, GTAT will produce and supply its CrystX silicon carbide (SiC) material to ON Semiconductor. This agreement is valued at a potential of USD 50 million.
  • In February 2020, Qorvo completed the acquisition of Decawave (Ireland), a pioneer in ultra-wideband (UWB) technology and provider of UWB solutions for mobile, automobile, and IoT applications. The Decawave team has become the Ultra-Wideband Business Unit (UWBU) within the Qorvo Mobile Products segment.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 33)
    1.1 Study Objectives
    1.2 Definition
           1.2.1 Inclusions and exclusions
    1.3 Study Scope
           1.3.1 Markets covered
           1.3.2 Geographic scope
    1.4 Years Considered
    1.5 Currency
    1.6 Stakeholders

2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 Research Data
           Figure 1 Compound semiconductor market: Research design
           2.1.1 Secondary data
                    2.1.1.1 Key data from secondary sources
           2.1.2 Primary data
                    2.1.2.1 Key industry insights
                    2.1.2.2 Breakdown of primaries
                    2.1.2.3 Key data from primary sources
    2.2 Market Size Estimation
           Figure 2 Research flow of market size estimation
           2.2.1 Bottom-up approach
                    2.2.1.1 Approach for capturing market size by bottom-up analysis (demand side)
                               Figure 3 Compound semiconductor market: Bottom-up approach
           2.2.2 Top-down approach
                    2.2.2.1 Approach for capturing market size by top-down analysis (supply side)
                               Figure 4 Top-down approach to arrive at market size
    2.3 Market Breakdown and Data Triangulation
           Figure 5 Data triangulation
    2.4 Research Assumptions
           Figure 6 Assumptions for research study

3 EXECUTIVE SUMMARY (Page No. - 46)
    Figure 7 Gallium nitride segment to dominate compound semiconductor market during forecast period
    Figure 8 Power electronics segment to exhibit highest CAGR during forecast period
    Figure 9 Telecommunication application segment to lead compound semiconductor market during forecast period
    Figure 10 Compound semiconductor market in APAC to register highest CAGR during forecast period

4 PREMIUM INSIGHTS (Page No. - 50)
    4.1 Attractive Opportunities in Compound Semiconductor Market
           Figure 11 Increasing application of compound semiconductors in leds to boost growth of the market
    4.2 Compound Semiconductor Market in APAC, by Country and Application
           Figure 12 China and telecommunication segment held largest market shares of APAC compound semiconductor market in 2019
    4.3 Country-wise Compound Semiconductor Market Growth Rate
           Figure 13 China to record highest CAGR in compound semiconductor market during forecast period

5 MARKET OVERVIEW (Page No. - 53)
    5.1 Introduction
    5.2 Market Dynamics
           Figure 14 Drivers, restraints, opportunities, and challenges pertaining to the compound semiconductor market
             Figure 15 Compound semiconductor market drivers impact analysis
             Figure 16 Compound semiconductor market opportunities impact analysis
             Figure 17 Compound semiconductor market restraints and challenges impact analysis

           5.2.1 Drivers
                    5.2.1.1 Increase in government and stakeholder funding
                    5.2.1.2 Rise in demand and implementation of GaN and SiC in the semiconductor industry
                    5.2.1.3 High use of compound semiconductors in LED applications
           5.2.2 Restraints
                    5.2.2.1 High material and fabrication costs associated with compound semiconductors
           5.2.3 Opportunities
                    5.2.3.1 Growing automotive, telecom, and power industries
                    5.2.3.2 Rising demand for high speed and advanced devices in datacom applications
                    5.2.3.3 Increasing demand for compound semiconductors in military, defense, and aerospace
                    5.2.3.4 Emerging technologies revolutionizing the semiconductor industry
           5.2.4 Challenges
                    5.2.4.1 Compound semiconductors are complex to design
                    5.2.4.2 Disruption in the supply chain and decrease in demand from OEMs due to the COVID-19 pandemic
    5.3 Compound Semiconductor Value Chain
           Figure 18 Compound semiconductor value chain analysis
    5.4 Trends of Gan on Silicon Technology
           Figure 19 Value chain analysis for Gan on Silicon technology
    5.5 Recent Developments for Gan on Silicon
    5.6 Impact of COVID-19 on Compound Semiconductor Market

6 COMPOUND SEMICONDUCTOR DEPOSITION TECHNOLOGIES (Page No. - 66)
    6.1 Introduction
    6.2 Chemical Vapor Deposition (CVD)
    6.3 Molecular Beam Epitaxy
    6.4 Hydride Vapor Phase Epitaxy (HVPE)
    6.5 Ammonothermal
    6.6 Liquid Phase Epitaxy
    6.7 Atomic Layer Deposition (ALD)
    6.8 Others

7 COMPOUND SEMICONDUCTOR MARKET, BY TYPE (Page No. - 68)
    7.1 Introduction
           Figure 20 Compound semiconductor market, by type
             Table 1 Compound semiconductor market, by type, 2016–2025 (USD million) pre-COVID-19 scenario
             Figure 21 Gallium nitride to hold largest share of compound semiconductor market during forecast period
             Table 2 Compound semiconductor market, by type, 2016–2025 (USD million) post-COVID-19 scenario

    7.2 Gallium Nitride (GaN)
           7.2.1 Increasing usage of GaN in general lighting, signage, and automotive to drive GaN LED market
           7.2.2 Aluminum Gallium Nitride (AlGaN)
           7.2.3 Indium Gallium Nitride (InGaN)
                    Table 3 Compound semiconductor market for GaN, by product, 2016–2019 (USD million)
                         Figure 22 LED product segment to hold largest share of GaN market during forecast period
                         Table 4 Compound semiconductor market for GaN, by product, 2020–2025 (USD million)
                         Table 5 Gallium nitride market, by application, 2016–2019 (USD million)
                         Figure 23 General lighting application segment to hold largest market share during forecast period
                         Table 6 Gallium nitride market, by application, 2020–2025 (USD million)

    7.3 Gallium Arsenide (GaaS)
           7.3.1 High electron mobility in GaaS provides opportunity for high-speed devices
           7.3.2 Aluminium Gallium Arsenide (AlGaaS)
                    Table 7 Compound semiconductor market for GaaS, by product, 2016–2019 (USD million)
                         Figure 24 RF devices segment to hold largest market share during forecast period
                         Table 8 Compound semiconductor market for GaaS, by product, 2020–2025 (USD million)
                         Table 9 Gallium arsenide market, by application, 2016–2019 (USD million)
                         Figure 25 Telecommunication segment to hold largest market share during forecast period
                         Table 10 Gallium arsenide market, by application, 2020–2025 (USD million)

    7.4 Silicon Carbide (SiC)
           7.4.1 Increasing adoption of ev provides ample opportunities for SiC power electronics market
                    Table 11 Compound semiconductor market for SiC, by product, 2016–2019 (USD million)
                         Table 12 Compound semiconductor market for SiC, by product, 2020–2025 (USD million)

    7.5 Indium Phosphide (InP)
           7.5.1 Higher electron velocity drives InP device market growth for telecom and datacom applications
                    Table 13 Compound semiconductor market for InP, by product, 2016–2019 (USD million)
                         Table 14 Compound semiconductor market for InP, by product, 2020–2025 (USD million)
                         Table 15 Indium phosphide market, by application, 2016–2019 (USD million)
                         Table 16 Indium phosphide market, by application, 2020–2025 (USD million)

    7.6 Silicon Germanium (SiGe)
           7.6.1 Optoelectronics and RF support SiGe market growth
                    Table 17 Compound semiconductor market for SiGe, by product, 2016–2019 (USD million)
                         Table 18 Compound semiconductor market for SiGe, by product, 2020–2025 (USD million)
                         Table 19 Silicon germanium market, by application, 2016–2019 (USD million)
                         Table 20 Silicon germanium market, by application, 2020–2025 (USD million)

    7.7 Gallium Phosphide (Gap)
           7.7.1 Low power leds is key application of GaP
           7.7.2 Aluminium Gallium Phosphide (AlGaP)
                    Table 21 Compound semiconductor market for GaP, by product, 2016–2019 (USD million)
                         Table 22 Compound semiconductor market for GaP, by product, 2020–2025 (USD million)

    7.8 Others
           7.8.1 Indium Antimonide (Insb)
           7.8.2 Cadmium Selenide (CdSe)
           7.8.3 Cadmium Telluride (CdTe)
           7.8.4 Zinc Selenide (ZnSe)
           7.8.5 Aluminum Indium Arsenide (AlInAs)
           7.8.6 Cadmium Zinc Telluride (CdZnTe)
           7.8.7 Mercury Cadmium Telluride (MCT)
    7.9 Impact of COVID-19 on Types of Compound Semiconductors
           Figure 26 Highest impact of COVID-19 is expected on GaN market

8 COMPOUND SEMICONDUCTOR MARKET, BY PRODUCT (Page No. - 84)
    8.1 Introduction
           Figure 27 Compound semiconductor market, by product
             Table 23 Compound semiconductor market, by product, 2016–2019 (USD million)
              Figure 28 LED to hold the largest market share during the forecast period
              Table 24 Compound semiconductor market, by product, 2020–2025 (USD million)

    8.2 Led
           8.2.1 Decreasing prices of led and favorable government initiatives drive led market growth
                    Table 25 Compound semiconductor market for LED, by type, 2016–2019 (USD million)
                         Figure 29 GaN to hold the largest share of LED market during forecast period
                         Table 26 Compound semiconductor market for LED, by type, 2020–2025 (USD million)
                         Table 27 Gallium nitride led market, by application, 2016–2019 (USD million)
                         Figure 30 General lighting application to hold the largest share of GaN led market
                         Table 28 Gallium nitride led market, by application, 2020–2025 (USD million)
                         Table 29 Gallium arsenide led market, by application, 2016–2019 (USD million)
                         Table 30 Gallium arsenide led market, by application, 2020–2025 (USD million)
                         Table 31 Gallium phosphide led market, by application, 2016–2019 (USD million)
                         Table 32 Gallium phosphide led market, by application, 2020–2025 (USD million)
                         Table 33 Compound semiconductor market for LED, by application, 2016–2019 (USD million)
                         Table 34 Compound semiconductor market for LED, by application, 2020–2025 (USD million)

    8.3 Optoelectronics
           8.3.1 increasing demand for high-speed data transfer devices creates opportunity for optoelectronics market
                    Table 35 Compound semiconductor market for optoelectronics, by type, 2016–2019 (USD million)
                         Table 36 Compound semiconductor market for optoelectronics, by type, 2020–2025 (USD million)
                         Table 37 Gallium nitride optoelectronics market, by application, 2016–2019 (USD million)
                         Table 38 Gallium nitride optoelectronics market, by application, 2020–2025 (USD million)
                         Table 39 Gallium arsenide optoelectronics market, by application, 2016–2019 (USD million)
                         Table 40 Gallium arsenide optoelectronics market, by application, 2020–2025 (USD million)
                         Table 41 Indium phosphide optoelectronics market, by application, 2016–2019 (USD million)
                         Table 42 Indium phosphide optoelectronics market, by application, 2020–2025 (USD million)
                         Table 43 Silicon germanium optoelectronics market, by application, 2016–2019 (USD million)
                         Table 44 Silicon germanium optoelectronics market, by application, 2020–2025 (USD million)
                         Table 45 Compound semiconductor market for optoelectronics, by application, 2016–2019 (USD million)
                         Table 46 Compound semiconductor market for optoelectronics, by application, 2020–2025 (USD million)

    8.4 RF Devices
           8.4.1 RF power
                    8.4.1.1 Increasing adoption of LTE and 5G to provide opportunities for RF power market
                    8.4.1.2 Monolithic Microwave Integrated Circuit (MMIC)
           8.4.2 RF switching
                    8.4.2.1 Telecommunication and military, defense, and aerospace are important applications of RF switching market
           8.4.3 Other RF devices
                    8.4.3.1 Other RF devices include LNAs, mixers, and multipliers
                               Table 47 Compound semiconductor market for RF devices, by type, 2016–2019 (USD million)
                                      Table 48 Compound semiconductor market for RF devices, by type, 2020–2025 (USD million)
                                      Table 49 Gallium nitride RF devices market, by application, 2016–2019 (USD million)
                                      Table 50 Gallium nitride RF devices market, by application, 2020–2025 (USD million)
                                      Table 51 Gallium arsenide RF devices market, by application, 2016–2019 (USD million)
                                      Table 52 Gallium arsenide RF devices market, by application, 2020–2025 (USD million)
                                      Table 53 Indium phosphide RF devices market, by application, 2016–2019 (USD million)
                                      Table 54 Indium phosphide RF devices market, by application, 2020–2025 (USD million)
                                      Table 55 Silicon germanium RF devices market, by application, 2016–2019 (USD million)
                                      Table 56 Silicon germanium RF devices market, by application, 2020–2025 (USD million)
                                      Table 57 Compound semiconductor market for RF devices, by application, 2016–2019 (USD million)
                                      Table 58 Compound semiconductor market for RF devices, by application, 2020–2025 (USD million)

    8.5 Power Electronics
           8.5.1 Discrete
                    8.5.1.1 Transistor
                               8.5.1.1.1 Metal oxide field-effect transistor (MOSFET)
                                             8.5.1.1.1.1 Growing market for electric vehicles to spur the demand for MOSFETs
                               8.5.1.1.2 High electron mobility transistor (HEMT)
                                             8.5.1.1.2.1 HEMTs find applications in power supply, charging, and motor drives
                    8.5.1.2 Diode
                               8.5.1.2.1 Schottky diode
                                             8.5.1.2.1.1 Schottky diodes are majorly used in power supply applications
                               8.5.1.2.2 PIN diode
                                             8.5.1.2.2.1 PIN diodes are used to for voltage multiplier applications
           8.5.2 Bare die
                    8.5.2.1 Bare die is a small block of semiconducting material embedded with the required functional circuit
           8.5.3 Module
                    8.5.3.1 Electric vehicles to provide attractive opportunities
                               Table 59 Compound semiconductor market for power electronics, by type, 2016–2019 (USD million)
                                       Figure 31 SiC to hold a larger share of compound semiconductor market for power electronics
                                       Table 60 Compound semiconductor market for power electronics, by type, 2020–2025 (USD million)
                                       Table 61 Gallium nitride power electronics market, by application, 2016–2019 (USD million)
                                       Table 62 Gallium nitride power electronics market, by application, 2020–2025 (USD million)
                                       Table 63 Silicon carbide power electronics market, by application, 2016–2019 (USD million)
                                       Table 64 Silicon carbide power electronics market, by application, 2020–2025 (USD million)
                                       Table 65 Compound semiconductor market for power electronics, b application, 2016–2019 (USD million)
                                       Table 66 Compound semiconductor market for power electronics, by application, 2020–2025 (USD million)

    8.6 Impact of COVID-19 on Compound Semiconductor Products
           Figure 32 Growth of led market to decline considerably due to the COVID-19 pandemic

9 COMPOUND SEMICONDUCTOR MARKET, BY APPLICATION (Page No. - 107)
    9.1 Introduction
           Table 67 Compound semiconductor market, by application, 2016–2019 (USD million)
              Figure 33 Telecommunication application to hold the largest market share during forecast period
              Table 68 Compound semiconductor market, by application, 2020–2025 (USD million)

    9.2 General Lighting
           9.2.1 Increasing penetration of leds in general lighting applications provides opportunity for gan and gan-on-silicon led market
                    Table 69 Compound semiconductor market for general lighting application, by type, 2016–2019 (USD million)
                         Table 70 Compound semiconductor market for general lighting application, by type, 2020–2025 (USD million)
                         Table 71 Compound semiconductor market for general lighting application, by region, 2016–2019 (USD million)
                         Table 72 Compound semiconductor market for general lighting application, by region, 2020–2025 (USD million)

    9.3 Telecommunication
           9.3.1 Increasing adoption of compound semiconductors for telecom infrastructure and communication devices drives the market
                    Table 73 Compound semiconductor market for telecommunication application, by type, 2016–2019 (USD million)
                         Figure 34 GaN segment to grow at the highest CAGR in telecommunication market during forecast period
                        Table 74 Compound semiconductor market for telecommunication application, by type, 2020–2025 (USD million)
                        Table 75 Compound semiconductor market for telecommunication application, by region, 2016–2019 (USD million)
                        Figure 35 APAC to hold largest share of telecommunication market during forecast period
                        Table 76 Compound semiconductor market for telecommunication application, by region, 2020–2025 (USD million)

    9.4 Military, Defense, and Aerospace
           9.4.1 High power capability of gan makes it suitable material for its adoption in military & defense applications
           9.4.2 Radar
           9.4.3 Electronic Warfare
                    Table 77 Compound semiconductor market for military, defense, and aerospace application, by type, 2016–2019 (USD million)
                        Table 78 Compound semiconductor market for military, defense, and aerospace application, by type, 2020–2025 (USD million)
                        Table 79 Compound semiconductor market for military, defense, and aerospace application, by region, 2016–2019 (USD million)
                        Table 80 Compound semiconductor market for military, defense, and aerospace application, by region, 2020–2025 (USD million)

    9.5 Automotive
           9.5.1 Increasing importance of advanced power semiconductor devices in automotive application drives SiC and GaN power electronics market
           9.5.2 Electric Vehicles & Charging Infrastructure
                    Table 81 Compound semiconductor market for automotive application, by type, 2016–2019 (USD million)
                        Table 82 Compound semiconductor market for automotive application, by type, 2020–2025 (USD million)
                        Table 83 Compound semiconductor market for automotive application, by region, 2016–2019 (USD million)
                        Table 84 Compound semiconductor market for automotive application, by region, 2020–2025 (USD million)

    9.6 Power Supply
           9.6.1 Wireless charging to provide opportunity for GaN and SiC devices market
                    Table 85 Compound semiconductor market for power supply application, by type, 2016–2019 (USD million)
                        Figure 36 GaN to grow at highest CAGR in power supply application market during forecast period
                        Table 86 Compound semiconductor market for power supply application, by type, 2020–2025 (USD million)
                        Table 87 Compound semiconductor market for power supply application, by region, 2016–2019 (USD million)
                        Table 88 Compound semiconductor market for power supply application, by region, 2020–2025 (USD million)

    9.7 Datacom
           9.7.1 Increasing demand for high-speed transceivers in data center drives compound semiconductor market growth
                    Table 89 Compound semiconductor market for datacom application, by type, 2016–2019 (USD million)
                         Table 90 Compound semiconductor market for datacom application, by type, 2020–2025 (USD million)
                         Table 91 Compound semiconductor market for datacom application, by region, 2016–2019 (USD million)
                         Table 92 Compound semiconductor market for datacom application, by region, 2020–2025 (USD million)

    9.8 Consumer Display
           9.8.1 Demand for GaN leds for backlighting plays an important role for consumer display application
                    Table 93 Compound semiconductor market for consumer display application, by type, 2016–2019 (USD million)
                        Table 94 Compound semiconductor market for consumer display application, by type, 2020–2025 (USD million)
                        Table 95 Compound semiconductor market for consumer display application, by region, 2016–2019 (USD million)
                        Table 96 Compound semiconductor market for consumer display application, by region, 2020–2025 (USD million)

    9.9 Commercial
           9.9.1 Increasing importance of digital signage provides opportunity for compound semiconductor-based led market
                    Table 97 Compound semiconductor market for commercial application, by type, 2016–2019 (USD million)
                         Table 98 Compound semiconductor market for commercial application, by type, 2020–2025 (USD million)
                         Table 99 Compound semiconductor market for commercial application, by region, 2016–2019 (USD million)
                         Table 100 Compound semiconductor market for commercial application, by region, 2020–2025 (USD million)

    9.10 Consumer Devices
           9.10.1 Increasing applications of 3D sensing to create growth opportunities for consumer devices market
                               Table 101 Compound semiconductor market for consumer devices application, by type, 2016–2019 (USD million)
                                      Table 102 Compound semiconductor market for consumer devices application, by type, 2020–2025 (USD million)
                                      Table 103 Compound semiconductor market for consumer devices application, by region, 2016–2019 (USD million)
                                      Table 104 Compound semiconductor market for consumer devices application, by region, 2020–2025 (USD million)

    9.11 Others
           9.11.1 Photovoltaics (PV)
                    9.11.1.1 Increasing initiatives by governments in the production of clean energy
           9.11.2 Wind Turbine
                    9.11.2.1 Electricity generation using wind turbines to increase the demand for compound semiconductors
                                  Table 105 Compound semiconductor market for other applications, by type, 2016–2019 (USD million)
                                          Table 106 Compound semiconductor market for other applications, by type, 2020–2025 (USD million)
                                          Table 107 Compound semiconductor market for other applications, by region, 2016–2019 (USD million)
                                          Table 108 Compound semiconductor market for other applications, by region, 2020–2025 (USD million)

    9.12 Impact of COVID-19 on Compound Semiconductor Applications
                    Figure 37 Consumer display application segment highest affected due to COVID-19 pandemic

10 GEOGRAPHIC ANALYSIS (Page No. - 130)
     10.1 Introduction
               Table 109 Compound semiconductor market, by region, 2016–2019 (USD million)
                   Figure 38 Compound semiconductor market in APAC to hold largest share during forecast period
                  Table 110 Compound semiconductor market, by region, 2020–2025 (USD million)

     10.2 North America
               Figure 39 Compound semiconductor market snapshot in North America
                  Table 111 Compound semiconductor market in North America, by country, 2016–2019 (USD million)
                  Table 112 Compound semiconductor market in North America, by country, 2020–2025 (USD million)
                  Table 113 Compound semiconductor market in North America, by application, 2016–2019 (USD million)
                  Table 114 Compound semiconductor market in North America, by application, 2020–2025 (USD million)

             10.2.1 US
                       10.2.1.1 Growing adoption of compound semiconductors in the military and defense industry
             10.2.2 Canada
                       10.2.2.1 Rising trends of electric vehicles and solar energy to boost the compound semiconductor market
             10.2.3 Mexico
                       10.2.3.1 Increasing government initiatives in 5G and renewable energy sources
     10.3 Europe
               Figure 40 Compound semiconductor market snapshot in Europe
                  Table 115 Compound semiconductor market in Europe, by country, 2016–2019 (USD million)
                  Table 116 Compound semiconductor market in Europe, by country, 2020–2025 (USD million)
                  Table 117 Compound semiconductor market in Europe, by application, 2016–2019 (USD million)
                  Table 118 Compound semiconductor market in Europe, by application, 2020–2025 (USD million)

               10.3.1 Germany
                       10.3.1.1 Germany to dominate the European compound semiconductor market owing to expanding automotive industry and growing need for electric vehicles
             10.3.2 UK
                       10.3.2.1 Increasing initiatives from the UK government and private players are expected to boost market growth
             10.3.3 France
                       10.3.3.1 Telecom and automotive industries to provide opportunities for compound semiconductor market
             10.3.4 Italy
                       10.3.4.1 Growing automotive industry in Italy provides opportunities for compound semiconductor market for LED and power electronics segments
             10.3.5 Rest of Europe
     10.4 APAC
               Figure 41 Compound semiconductor market snapshot in APAC
                  Table 119 Compound semiconductor market in APAC, by country, 2016–2019 (USD million)
                  Table 120 Compound semiconductor market in APAC, by country, 2020–2025 (USD million)
                  Table 121 Compound semiconductor market in APAC, by application, 2016–2019 (USD million)
                  Table 122 Compound semiconductor market in APAC, by application, 2020–2025 (USD million)

             10.4.1 China
                       10.4.1.1 Increasing trend of 5G and EV to drive compound semiconductor market in China
             10.4.2 Japan
                       10.4.2.1 Growing adoption of compound semiconductor devices in telecommunication, lighting, and automobile applications
             10.4.3 South Korea
                       10.4.3.1 Compound semiconductor market growth is mainly driven by telecommunication application
             10.4.4 Rest of APAC
     10.5 Row
               Table 123 Compound semiconductor market in RoW, by country, 2016–2019 (USD million)
                  Figure 42 South America to hold the largest market share in RoW during forecast period
                  Table 124 Compound semiconductor market in RoW, by country, 2020–2025 (USD million)
                  Table 125 Compound semiconductor market in RoW, by application, 2016–2019 (USD million)
                  Table 126 Compound semiconductor market in RoW, by application, 2020–2025 (USD million)

             10.5.1 South America
                       10.5.1.1 GaN and GaAs markets expected to grow significantly
             10.5.2 Middle East & Africa
                       10.5.2.1 Telecommunication application provides growth prospects for compound semiconductor market
     10.6 Impact of Covid-19 on Major Regions
               Figure 43 APAC compound semiconductor market to be the most affected due to covid-19 pandemic

11 COMPETITIVE LANDSCAPE (Page No. - 152)
     11.1 Overview
               Figure 44 Players in the compound semiconductor market adopted product launch as the key strategy for business expansion from 2018 to 2020
     11.2 Ranking Analysis of Market Players
               Figure 45 Ranking analysis of market players, 2019
     11.3 Competitive Leadership Mapping
             11.3.1 Visionary Leaders
             11.3.2 Dynamic Differentiators
             11.3.3 Innovators
             11.3.4 Emerging Players
                         Figure 46 Compound semiconductor market (global) competitive leadership mapping, 2019
     11.4 Strength of Product Portfolio (25 Players)
               Figure 47 Product portfolio analysis of top players in compound semiconductor market
     11.5 Business Strategy Excellence (25 Players)
               Figure 48 Business strategy excellence of top players in compound semiconductor market
     11.6 Competitive Situations and Trends
             11.6.1 Product launches
                         Table 127 Product launches, 2019–2020
             11.6.2 Agreements, collaborations, partnerships, and contracts
                         Table 128 Agreements, collaborations, partnerships, and contracts, 2018–2020
             11.6.3 Acquisitions
                        Table 129 Acquisitions, 2018 to 2020
             11.6.4 Expansion
                         Table 130 Expansion, 2018–2019

12 COMPANY PROFILES (Page No. - 163)
     12.1 Introduction
     12.2 Key Players
(Business Overview, Products Offered, Recent Developments, COVID-19-Specific Developments SWOT Analysis, and MnM View)*
             12.2.1 Nichia
             12.2.2 Samsung Electronics
                         Figure 49 Samsung Electronics: Company snapshot
             12.2.3 AMS
                         Figure 50 AMS: Company snapshot
             12.2.4 QORVO
                         Figure 51 QORVO: Company snapshot
             12.2.5 Skyworks
                         Figure 52 Skyworks: Company snapshot
             12.2.6 Cree
                         Figure 53 Cree: Company snapshot
             12.2.7 GaN Systems
             12.2.8 Infineon
                         Figure 54 Infineon: Company snapshot
             12.2.9 Mitsubishi Electric
                        Figure 55 Mitsubishi Electric: Company snapshot
             12.2.10 NXP
                           Figure 56 NXP: Company snapshot
             12.2.11 ON Semiconductor
                           Figure 57 ON Semiconductor: Company snapshot
* Business Overview, Products Offered, Recent Developments, COVID-19-Specific Developments SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
     12.3 Right to Win
     12.4 Other Key Players
             12.4.1 Analog Devices
             12.4.2 Broadcom
             12.4.3 EPC
             12.4.4 Lumentum
             12.4.5 Macom
             12.4.6 Microchip
             12.4.7 Neophotonics
             12.4.8 Qualcomm
             12.4.9 Renesas Electronics
             12.4.10 Rohm
             12.4.11 San’an
             12.4.12 II-VI
             12.4.13 Stmicroelectronics
             12.4.14 Transphorm
             12.4.15 Visic Technologies

13 ADJACENT & RELATED MARKETS (Page No. - 216)
     13.1 Introduction
     13.2 Limitations
     13.3 Silicon Carbide Market
             13.3.1 Market definition
                       13.3.1.1 Inclusions and exclusions
             13.3.2 Market overview
             13.3.3 Silicon carbide market by device
                       Figure 58 SiC bare die segment of silicon carbide market is projected to grow at higher CAGR from 2020 to 2025
                            Table 131 Silicon carbide market, by device, 2017–2025 (USD million)
                            Table 132 Silicon carbide market, by device, 2017–2025 (Million units)

                       13.3.3.1 SiC discrete device
                                      Table 133 Silicon carbide market for SiC discrete device, by type, 2017–2025 (USD million)
                                              Table 134 Silicon carbide market for SiC discrete device, by region, 2017–2025 (USD million)

                                   13.3.3.1.1 SiC diode
                                                    Table 135 Silicon carbide market for SiC diode, by region, 2017–2025 (USD million)
                                   13.3.3.1.2 SiC MOSFET
                                                     Table 136 Silicon carbide market for SiC mosfet, by region, 2017–2025 (USD million)
                                   13.3.3.1.3 SiC Module
                                                     Table 137 Silicon carbide market for SiC module, by region, 2017–2025 (USD million)
                       13.3.3.2 SiC bare die
                                      Table 138 Silicon carbide market for SiC bare die, by type, 2017–2025 (USD million)
             13.3.4 Silicon carbide market by application
                          Figure 59 EV motor drives segment of silicon carbide market is projected to grow at highest CAGR from 2020 to 2025
                               Table 139 Silicon carbide market, by application, 2017–2025 (USD million)

                       13.3.4.1 Power grid devices
                                      Table 140 Silicon carbide market for power grid devices, by region, 2017–2025 (USD million)
                       13.3.4.2 Flexible AC transmission systems (FACTS)
                                     Table 141 Silicon carbide market for flexible ac transmission systems (facts), by region, 2017–2025 (USD million)
                       13.3.4.3 High-Voltage Direct Current Systems (HVCD)
                                     Table 142 Silicon carbide market for high-voltage direct current systems (HVDC), by region, 2017–2025 (USD million)
                       13.3.4.4 Power supplies and inverters
                                     Table 143 Silicon carbide market for power supplies & inverters, by region, 2017–2025 (USD million)
                       13.3.4.5 RF devices & cellular base stations
                                     Table 144 Silicon carbide market for RF devices & cellular base stations, by region, 2017–2025 (USD million)
                       13.3.4.6 Lighting control systems
                                     Table 145 Silicon carbide market for lighting control systems, by region, 2017–2025 (USD million)
                       13.3.4.7 Industrial motor drives
                                     Table 146 Silicon carbide market for industrial motor drives, by region, 2017–2025 (USD million)
                       13.3.4.8 Flame detectors
                                     Table 147 Silicon carbide market for flame detectors, by region, 2017–2025 (USD million)
                       13.3.4.9 EV motor drives
                                     Table 148 Silicon carbide market for EV motor drives, by region, 2017–2025 (USD million)
                       13.3.4.10 EV charging stations
                                       Table 149 Silicon carbide market for EV charging stations, by region, 2017–2025 (USD million)
                       13.3.4.11 Electronic combat systems
                                        Table 150 Silicon carbide market for electronic combat systems, by region, 2017–2025 (USD million)
                       13.3.4.12 Wind turbines
                                         Table 151 Silicon carbide market for wind turbines, by region, 2017–2025 (USD million)
                       13.3.4.13 Solar power systems
                                        Table 152 Silicon carbide market for solar power systems, by region, 2017–2025 (USD million)
                       13.3.4.14 Others
                                         Table 153 Silicon carbide market for others, by region, 2017–2025 (USD million)
             13.3.5 Silicon carbide market by region
                         Figure 60 APAC to witness highest growth during forecast period (USD million)
                              Table 154 Silicon carbide market, by region, 2017–2025 (USD million)

                       13.3.5.1 North America
                       13.3.5.2 Europe
                       13.3.5.3 APAC
                       13.3.5.4 RoW
     13.4 RF Semiconductor Market
             13.4.1 Market definition
                       13.4.1.1 inclusions and exclusions
             13.4.2 Market overview
             13.4.3 RF semiconductor market, by material
                        Figure 61 Gallium Nitride (GaN) based rf devices to grow at highest CAGR during forecast period
                              Table 155 RF semiconductor market, by material 2017–2025 (USD million)

                       13.4.3.1 Gallium Arsenide (GaAs) and piezoelectric substrate
                                     Table 156 RF semiconductor market for Gallium Arsenide (GaaS) and piezoelectric substrate, by region, 2017–2025 (USD million)
                       13.4.3.2 Silicon (Si)
                                     Table 157 RF semiconductor market for Silicon (si), by region, 2017–2025 (USD million)
                       13.4.3.3 Silicon Germanium (SiGe)
                                     Table 158 RF semiconductor market for Silicon Germanium (SiGe), by region, 2017–2025 (USD million)
                       13.4.3.4 Gallium Nitride (GaN)
                                     Table 159 RF semiconductor market for Gallium Nitride (GaN), by region, 2017–2025 (USD million)
                       13.4.3.5 Indium Phosphide (InP)
                                     Table 160 rf semiconductor market for indium phosphide (InP), by region, 2017–2025 (USD million)
             13.4.4 RF semiconductor market, by application
                         Figure 62 Consumer devices to lead RF semiconductor market during forecast period
                               Table 161 RF semiconductor market, by application, 2017–2025 (USD million)

                       13.4.4.1 Consumer devices
                                      Table 162 RF semiconductor market for consume devices, by region, 2017–2025 (USD million)
                       13.4.4.2 Telecommunication
                                      Table 163 RF semiconductor market for telecommunication, by region, 2017–2025 (USD million)
                       13.4.4.3 Aerospace & defense
                                   13.4.4.3.1 Radar
                                   13.4.4.3.2 Electronic warfare
                                                     Table 164 RF semiconductor market for aerospace & defence, by region, 2017–2025 (USD million)
                       13.4.4.4 Automotive
                                      Table 165 RF semiconductor market for automotive, by region, 2017–2025 (USD million)
                       13.4.4.5 CATV & wired broadband
                                      Table 166 RF semiconductor market for CATV & wired broadband, by region, 2017–2025 (USD million)
                       13.4.4.6 Others
                                      Table 167 RF semiconductor market for other applications, by region, 2017–2025 (USD million)
             13.4.5 RF semiconductor market, by region
                         Figure 63 RF semiconductor market in APAC to grow at highest CAGR during forecast period
                              Table 168 RF semiconductor market, by region, 2017–2025 (USD million)

                       13.4.5.1 North America
                       13.4.5.2 Europe
                       13.4.5.3 Asia Pacific (APAC)
                       13.4.5.4 Rest of the World (RoW)

14 APPENDIX (Page No. - 250)
     14.1 Discussion Guide
     14.2 Knowledge Store: MarketsandMarkets’ Subscription Portal
     14.3 Available Customizations
     14.4 Related Reports
     14.5 Author Details

The study involved four major activities in estimating the current size of the global compound semiconductor market. Exhaustive secondary research has been done to collect information about the market, the peer market, and the parent market. Validating findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.

Secondary Research

The secondary sources referred to for this research study include semiconductor industry organizations such as the Semiconductor Industry Association (SIA), Global Semiconductor Alliance (GSA), and corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by primary research.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the compound semiconductor market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand-and supply-side players across four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World (Middle East & Africa and South America). Approximately 70% and 30% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Compound Semiconductor Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down and bottom-up approaches have been used to estimate and validate the overall size of the compound semiconductor market. These methods have also been used extensively to estimate the size of various market subsegments.

The research methodology used to estimate the market size by top down approach includes the following:

  • Focusing initially on top-line investments and expenditures being made in the ecosystems of the compound semiconductor market
  • Calculating the market size considering revenues generated by major players through the sale of compound semiconductor materials. Estimating 2020 values by considering COVID-19 impact across the value chain of compound semiconductor market. Analyzing recovery scenarios across the globe to further forecast values
  • Conducting multiple on-field discussions with key opinion leaders across major companies involved in the development of compound semiconductors to understand the pre-COVID-19 and post-COVID-19 scenarios
  • Estimating the geographic split using secondary sources based on various factors, such as the number of OEMs in a specific country and region, role of major players in the market for the development of innovative products, and adoption and penetration rates in particular country for various end-user applications

Compound Semiconductor Market Top Down Approach

The research methodology used to estimate the market size by bottom up approach includes the following:

  • Identifying entities in the compound semiconductor market that influence the entire market, along with the related component players
  • Analyzing major manufacturers of compound semiconductor devices and material providers, OEMs, studying their portfolios, and understanding different components and products. Analyzing developments pre- and post-COVID-19. Studying the measures/steps taken by companies to deal with the COVID-19 pandemic
  • Analyzing the anticipated change in demand in the post-COVID-19 scenario
  • Analyzing trends pertaining to the use of different types of compound semiconductor devices for different kinds of applications
  • Tracking the ongoing and upcoming developments in the market, such as investments made, R&D activities, product launches, collaborations, and partnerships, and forecasting the market based on these developments and other critical parameters
  • Carrying out multiple discussions with key opinion leaders to understand different types of compound semiconductor market, components, and applications and recent trends in the market, thereby analyzing the breakup of the scope of work carried out by major companies
  • Arriving at the market estimates by analyzing revenues of companies generated and then combining the same to get the market estimate
  • Segmenting the overall market into various other market segments
  • Verifying and cross-checking the estimate at every level from the discussion with key opinion leaders such as CXOs, directors, and operations managers, and finally with the domain experts in MarketsandMarkets
  • Studying various paid and unpaid sources of information such as annual reports, press releases, white papers, and databases

Compound Semiconductor Market Bottom Up Approach

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides, in the general lighting, consumer display, telecommunication, consumer devices, commercial, automotive, military, defense, and aerospace, Datacom, and power supply among other applications.

Report Objectives

  • To describe and forecast the compound semiconductor market, in terms of value, by type, product, and application
  • To describe and forecast the market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
  • To provide a detailed overview of the value chain pertaining to the compound semiconductor ecosystem
  • To strategically analyze micromarkets with regard to individual growth trends, prospects, and contributions to the total market
  • To strategically profile key players and comprehensively analyze their market position
    in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To analyze strategic approaches such as product launches, acquisitions, agreements, and partnerships in the compound semiconductor market

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