Compound Semiconductor Market

Compound Semiconductor Market by Type (GaN, GaAs, InP, SiGe, SiC, GaP), Product (LED, RF, Optoelectronics, Power Electronics), Application (Telecommunications, General Lighting, Military & Defense, Datacom, Automotive), Geography - Global Forecast to 2024

Report Code: SE 2588 Dec, 2019, by marketsandmarkets.com
Updated date -

The compound semiconductor market forecasts is expected to grow from USD 37.2 billion in 2019 to USD 53.0 billion by 2024, at a compound annual growth rate (CAGR) of 7.3%. Increase in government and stakeholder funding, rise in demand and implementation of gallium nitride (GaN) and silicon carbide (SiC) in semiconductor industry, and high use of compound semiconductors in light emitting diodes (LED) applications are the major factors driving the growth of market. Increasing importance of compound semiconductors in automotive, telecom and power devices industries further provides opportunity for the compound semiconductor market.

Compound Semiconductor Market

See how this study impacted revenues for other players in Compound Semiconductor Market

Client’s Problem Statement

A prominent player of GaN LED market, was looking to understand the current market trends of GaN LED and was interested to expand its business for leading applications. Client was also interested to launch advanced technology-based LEDs.

MnM Approach

Client engaged MnM to conduct a study with the following objectives
• Market sizing and forecasting for various applications of GaN LEDs such as general lighting, consumer displays, commercial and automotive to target fastest growing applications
• To understand and analyze advanced technologies used for manufacturing LEDs such as GaN-on-Silicon, value chain and recent developments for GaN-on-Silicon technology
• Profiling and competitive benchmarking of key vendors offering GaN LEDs

Revenue Impact (RI)

Revenue impacted value was approx. USD 100 million

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By type, GaN to be largest contributor in compound semiconductor market during forecast period

Gallium nitride (GaN) is among the most prominent compound semiconductor materials. It is an alternative material to pure silicon in the field of semiconductors and electronics. GaN is a high electron mobility transistor (HEMT) semiconductor, which is expected to usher in new power devices that are superior to current Si-based MOSFETs. Owing to its abilities to emit UV and visible light, as well as the ability to tolerate high temperatures and voltages, GaN is used in lighting and power transistor applications.Some of advantages of GaN include: It offers high power density and superior thermal conductivity; it can operate at higher voltages due to high voltage breakdown; GaN devices can deliver much high current density; it can be used for 5G mmwave applications due to high frequency and high efficiency; It can be cost effective for some applications if it is made of silicon substrate. GaN finds applications in LEDs, optoelectronics, RF, and power electronics. LEDs contribute to the largest share of the GaN market. RF and power electronics segments are expected to grow at faster rates for GaN compared to LED segment. Deployment of 5G networks, will bring a huge opportunity for GaN devices during the forecast period. GaN devices are able to deliver the power or efficiency level required for next generation high frequency telecom networks

Based on product type, LEDs to account for largest market during forecast period

LED is a major shareholder of the compound semiconductor market. Various compound semiconductors are used to manufacture LEDs; GaN is mainly used for manufacturing white LEDs. GaN LED can be made on substrate sapphire, SiC or silicon. GaN on Si LEDs are gaining traction in the compound semiconductor market. Sapphire is majorly used substrate for LEDs. SiC substrates are very expensive and silicon is a very common substrate in the semiconductor industry, and the costs are much lower than either sapphire or SiC. Hence market for GaN on silicon LED expected to grow at a very high rate in coming years compared to other substrates. Various developments by players for GaN on silicon LED would also help to grow the compound semiconductor market. Automotive is fastest growing application of LED. Improved LED performance, lower power consumption, and flexible design and cost reductions helped LED technology to spread to all vehicle categories which was earlier limited to premium vehicles

Based on Application, automotive to grow at highest CAGR during the forecast period

Automotive is the fastest-growing application due to adoption of compound semiconductor (GaN and SiC) based power devices in segments such as charging infrastructure and EV/HEV. SiC-based power devices can operate at higher temperatures with higher thermal conductivity, higher breakdown voltage at lower on-stage resistance, faster switching speed, lower conduction, and switching on-state loss. GaN is also gaining importance in power electronics.

Compound Semiconductor Market

APAC to grow at highest CAGR during forecast period

Major players, such as Nichia (Japan), Samsung Electronics (South Korea), Mitsubishi Electric (Japan), and other providers, have their presence in APAC and are expected to dominate the compound semiconductor market. LEDs are expected to dominate the overall compound semiconductor market owing to the high adoption in lighting applications in APAC. China and Japan are leading countries for consumption of LEDs; however, developing countries in APAC are also expected to exhibit potential during the forecast period. Automotive lighting is the fastest growing application of the LED market. Telecommunications is among the most important applications of market in APAC. The market is driven by increasing adoption of compound semiconductor in telecom infrastructure as well as in devices such as smartphones. Increasing adoption of LTE and 5G networks is expected to provide opportunities during the forecast period. Countries such as China, Japan, and South Korea are focusing on wide adoption of 5G technology, which would further provide opportunities for compound semiconductors, particularly for base station infrastructure. Currently, GaAs heavily dominates the telecom market; however, GaN technology also has the potential that results in high adoption of GaN in the telecommunications industry during the forecast period. Power supply and automotive are among fastest growing applications in APAC. Rising adoption of compound semiconductor materials for power devices is major factor for the growth of compound semiconductor market. 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.

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 various 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). Among the mentioned materials, GaN is mainly used in LEDs. GaN-based compounds are crucial for short wavelength light emitters used in solid state lighting systems. LEDs are used in general lighting, automotive lighting, digital signage and others. LEDs are used in displays in most of the consumer electronic devices such as mobile phones, tablets, laptops, PCs, TVs, smart bands, smart watches, and fitness trackers. Most of these devices are battery operated and are designed for operations at lower voltages. GaN on sapphire is mainstream technology for LEDs while GaN on Silicon exhibits potential due to low cost of manufacturing.

Restraint: High material and fabrication costs associated with compound semiconductors

The major factor restraining the compound semiconductor market growth 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, newer, employ advanced technologies, and require state-of-the-art high priced equipment, as well as lack familiarity and required expertise in manufacturing processes among the engineering personnel and executives of compound semiconductor industry players.

Opportunity: Growing automotive, telecom and power industries

The telecommunications industry is witnessing high growth due to the growing trends in 5G telecom infrastructure. GaN, GaAs, and InP materials are used in telecom applications. Players such as Skyworks, Qorvo, Broadcom, and others provide compound semiconductor-based devices for telecom base stations for 5G. The automotive application is expected to witness a high growth rate owing to the adoption of compound semiconductors in electric vehicles, hybrid vehicles, automotive lighting, and LiDAR. GaN-based devices are mainly used for automotive lighting applications in headlights, tails lamps, car interior lighting, fog lights, stop lights, and dome lights. There is high demand for SiC-based MOSFETs in automotive for EV charging infrastructure, electric vehicle, and motor drive applications. Power supply applications are expected to witness high growth with the use of compound semiconductor devices in wireless charging, power supply, and UPS. Currently, SiC-based devices are mainly used for power supply applications in electric vehicles, charging infrastructure, and photovoltaic inverters however GaN based devices are also expected to grow significantly in these applications

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. The efficiency surge increases the operating time in battery-powered products, thereby reducing the electricity consumption of wireless base stations and similar applications

Compound Semiconductor Market

Scope of the Report

Report Metric

Detail

Compound Semiconductor Market Years

2015–2024

Base Year

2018

Forecast Period

2019–2024

Forecast Units

Value (USD)

Segments Covered

By Type, Product, Application, and Region

Geographies Covered

North America, Europe, APAC, and RoW

Companies Covered

Nichia (Japan), Samsung Electronics (South Korea), OSRAM (Germany), Qorvo (US), and Skyworks (US), Cree (US), GaN Systems (Canada); Infineon (Germany); Mitsubishi Electric  (Japan); NXP Semiconductors (Netherlands); and ON Semiconductor (US); Analog Devices (US); Broadcom (US); Efficient Power Conversion Corporation (US); Lumentum (US); NeoPhotonics (US); San’an Optoelectronics (China); and STMicroelectronics (Switzerland)

A total of 25 players are covered.

This research report categorizes the compound semiconductor market by type, product, application, and region.

Based on type, the compound semiconductor market has been classified into the following segments:

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

Based on application, the compound semiconductor market has been classified into the following segments:

  • General Lighting
  • Consumer Displays
  • Consumer Devices
  • Commercial
  • Automotive
  • Telecommunications
  • Datacom
  • Military & Defense
  • Power Supply
  • Others

Based on product, the compound semiconductor market has been classified into the following segments:

  • LED
  • Optoelectronics
  • RF Power
  • RF Switching
  • Power Electronics
  • Other RF  (low noise amplifiers, variable optical attenuators, mixers, and multipliers)

Based on region, the compound semiconductor market has been classified into the following segments:

  • North America
  • Europe
  • APAC
  • RoW

Key Market Players

Nichia (Japan), Samsung Electronics (South Korea), OSRAM (Germany), Qorvo (US), Skyworks (US), Cree (US), GaN Systems (Canada), Infineon (Germany), Mitsubishi Electric (Japan), NXP Semiconductors (Netherlands), ON Semiconductor (US), Analog Devices (US), Broadcom (US), Efficient Power Conversion (US), Lumentum (US), NeoPhotonics (US), San’an Optoelectronics (China), and STMicroelectronics (Switzerland), MACOM (US), ROHM (Japan) are among the major players in the compound semiconductor market.

Nichia (Japan) was founded in 1956 and is headquartered in Tokushima, Japan. Nichia is involved in the development, manufacturing, and sale of fine chemicals, particularly inorganic luminescent materials (phosphors). It was the first company to invent and commercialize blue LEDs in 1993 and then developed the world’s first white LED by combining yellow phosphor and blue LED, followed by the successful development of blue–violet semiconductor laser. Further, the invention of nitride-based LED and laser diodes led to the technological innovation of light source in the field of display, general lighting, automotive, industrial equipment, and medical care and measurement. Company focuses on R&D activities to launch new products frequently in order to expand it’s presence in the compound semiconductor market. In November 2018, Nichia launched color tunable Chip-on-Board (COB) series general lighting LEDs—NJCWL024Z-V1MT and NVCWJ024Z-V1MT. In Septmber 2018, Nichia launched 585 series of mid-power LEDs including NF2W585AR and NF3W585AR having high flux output at ~0.5W

Recent Developments

  • In January 2019, OSRAM unveiled PLPVCQ 850 and PLPVCQ 940, the latest additions to its Bidos product family. Applications of vertical cavity surface emitting lasers (VCSELs) include machine vision or facial recognition, as well as object or architectural scanning that involves mapping an area in 3D and positioning virtual furniture and other items.
  • In December 2018, Qorvo launched 28 GHz gallium nitride (GaN) front-end module (FEM). This new FEM reduces overall system costs for base station equipment manufacturers as they expand into 5G.
  • In November 2018, Nichia launched color tunable Chip-on-Board (COB) series general lighting LEDs—NJCWL024Z-V1MT and NVCWJ024Z-V1MT.
  • September 2018, Skyworks launched SKY5 - 8250, SKY5 - 3728, SKY5 - 5811, and SKY5 - 9256—5G solutions for transmitting/receiving, integrated filtering and dual-path low noise amplifiers (LNAs), integrated bypass LNA, and antenna tuning switch.
  • In October 2018, Cree signed a long-term agreement to produce and supply its Wolfspeed silicon carbide wafers to one of the world’s leading power device companies. The agreement was valued at more than USD 85 million.
  • In August 2018, GaN Systems and PowerSyphr (US), an innovator in wireless charging, entered into an agreement to develop GaN-based wireless power systems to compound semiconductor market high power applications across consumer, industrial, and automotive sectors.

Key Questions Addressed by the Aeport

  • What are different market trends pertaining to different types of compound semiconductors?
  • Which are major applications of compound semiconductors?
  • Which region would lead the compound semiconductor market during the forecast period?
  • What are strategies followed by compound semiconductor providers to stay ahead in the market?
  • What are the growth perspectives of this market in different regions?
  • What are drivers, opportunities, and challenges in compound semiconductor market ?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 23)
    1.1 Study Objectives
    1.2 Definition
    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. - 27)
    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
    2.2 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. - 35)
       Figure 7 Power Supply and Automotive to Grow at High Rate in Market During Forecast Period
       Figure 8 Silicon Carbide (SIC) to Witness Highest CAGR in Market During Forecast Period
       Figure 9 LED to Hold Largest Size of Market By 2024
       Figure 10 APAC to Hold Largest Share of Market By 2024

4 Premium Insights (Page No. - 40)
    4.1 Attractive Growth Opportunities in Market
            Figure 11 Increasing Adoption of Compound Semiconductors Including GaN, Gaas and SIC to Drive Growth of Market During Forecast Period
    4.2 Market, By Application and Region
             Figure 12 Telecommunications and APAC Were Largest Share Holders of Compound Semiconductor in 2018
    4.3 Market Growth Rates, By Country
             Figure 13 China, Japan, and US to Grow at Highest Rate in Market During Forecast Period

5 Market Overview (Page No. - 43)
    5.1 Introduction
    5.2 Market Dynamics
           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 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 Semiconductors Industry
           5.2.4 Challenges
                    5.2.4.1 Compound Semiconductors are Complex to Design
    5.3 Compound Semiconductor Value Chain
            Figure 14 Compound Semiconductor Value Chain Analysis
    5.4 Trends of GaN on Silicon Technology
            Figure 15 Value Chain Analysis for GaN on Silicon Technology
    5.5 Recent Developments for GaN on Silicon

6 Compound Semiconductor Market, By Type (Page No. - 52)
    6.1 Introduction
             Figure 16 Compound Semiconductor Market, By Type
             Figure 17 GaN to Hold Largest Size of Market During Forecast Period
             Table 1 Market, By Type, 2015–2024 (USD Million)
    6.2 Gallium Nitride (GaN)
           6.2.1 Increasing Usage of GaN in General Lighting, Signage, and Automotive to Drive GaN LED Market
                     Figure 18 LED to Hold Largest Size of GaN Semiconductor Device Market During Forecast Period
                     Table 2 GaN Semiconductor Device Market, By Product, 2015–2024 (USD Million)
                     Table 3 GaN Semiconductor Device Market, By Application, 2015–2024 (USD Million)
                     Figure 19 Automotive Expected to be Fastest Growing Application for GaN LED Market During Forecast Period
                     Table 4 GaN LED Market, By Application, 2015–2024 (USD Million)
                     Table 5 GaN Optoelectronics Market, By Application, 2015–2024 (USD Million)
                     Figure 20 Telecommunications to Hold Largest Size of GaN Rf Market During Forecast Period
                     Table 6 GaN Rf Device Market, By Application, 2015–2024 (USD Million)
                     Table 7 GaN Power Electronics Market, By Application, 2015–2024 (USD Million)
    6.3 Gallium Arsenide (Gaas)
           6.3.1 High Electron Mobility in Gaas Provides Opportunity for High Speed Devices
                     Figure 21 Rf Power to Hold Largest Size of Gaas Semiconductor Device Market During Forecast Period
                     Table 8 Gaas Semiconductor Device Market, By Product, 2015–2024 (USD Million)
                     Table 9 Gaas Semiconductor Device Market, By Application, 2015–2024 (USD Million)
                     Table 10 Gaas LED Market, By Application, 2015–2024 (USD Million)
                     Table 11 Gaas Optoelectronics Market, By Application, 2015–2024 (USD Million)
                     Figure 22 Telecommunications to Dominate Gaas Rf Market During the Forecast Period
                     Table 12 Gaas Rf Device Market, By Application, 2015–2024 (USD Million)
    6.4 Silicon Carbide (SIC)
           6.4.1 Increasing Adoption of Ev Provides Ample Opportunities for SIC Power Electronics Market
                     Figure 23 Automotive to be Fastest Growing Application for SIC Device Market During the Forecast Period
                     Table 13 SIC Device Market, By Application, 2015–2024 (USD Million)
    6.5 Indium Phosphide (Inp)
           6.5.1 Higher Electron Velocity Drives Inp Device Market Growth for Telecom and Datacom Applications
                     Figure 24 Optoelectronics to Hold Largest Size of Inp Semiconductor Device Market During Forecast Period
                     Table 14 Inp Semiconductor Device Market, By Product, 2015–2024 (USD Million)
                     Figure 25 Telecommunications and Datacom to Drive Inp Device Market Growth
                     Table 15 Inp Semiconductor Device Market, By Application, 2015–2024 (USD Million)
                     Table 16 Inp Optoelectronics Device Market, By Application, 2015–2024 (USD Million)
                     Table 17 Inp Rf Device Market, By Application, 2015-2024 (USD Million)
    6.6 Silicon Germanium (Sige)
           6.6.1 Optoelectronics and Rf Support Sige Market Growth
                     Figure 26 Rf Power to Dominate Sige Semiconductor Device Market During Forecast Period
                     Table 18 Sige Semiconductor Device Market, By Product, 2015–2024 (USD Million)
                     Table 19 Sige Semiconductor Device Market, By Application, 2015–2024 (USD Million)
                     Table 20 Sige Optoelectronics Device Market, By Application, 2015-2024 (USD Million)
                     Table 21 Sige Rf Device Market, By Application, 2015-2024 (USD Million)
    6.7 Gallium Phosphide (GAP)
           6.7.1 Low Power LEDs is Key Application of GAP
                     Table 22 GAP LED Market, By Application, 2015–2024 (USD Million)

7 Compound Semiconductor Market, By Product (Page No. - 73)
    7.1 Introduction
             Figure 27 Compound Semiconductor Market, By Product
             Figure 28 LED to Hold Largest Size of Market During Forecast Period
             Table 23 Market, By Product, 2015–2024 (USD Million)
    7.2 LED
           7.2.1 Decreasing Prices of LED and Favorable Government Initiatives Drive LED Market Growth
                     Figure 29 GaN to Hold Largest Size of Market During Forecast Period
                     Table 24 Market for LEDs, By Type, 2015–2024 (USD Million)
                     Table 25 Market for LEDs, By Application, 2015–2024 (USD Million)
    7.3 Optoelectronics
           7.3.1 Increasing Demand for High-Speed Data Transfer Devices Creates Opportunity for Optoelectronics Market
                     Figure 30 Inp to Hold Largest Size for Optoelectronics During Forecast Period
                     Table 26 Market for Optoelectronics, By Type, 2015–2024 (USD Million)
                     Table 27 Market for Optoelectronics, By Application, 2015–2024 (USD Million)
    7.4 Rf Power
           7.4.1 Increasing Trends for Adoption of Lte and 5g to Provide Opportunities for Rf Power Market
                     Figure 31 Gaas to Hold Largest Size for Rf Power During Forecast Period
                     Table 28 Market for Rf Power, By Type, 2015–2024 (USD Million)
    7.5 Rf Switching
           7.5.1 Telecommunications and Military & Defense are Important Applications of Rf Switching Market
                     Figure 32 Gaas to Hold Largest Size for Rf Switching During Forecast Period
                     Table 29 Market for Rf Switching, By Type, 2015–2024 (USD Million)
    7.6 Other Rf Devices
            Figure 33 Gaas to Hold Largest Size for Other Rf Devices During Forecast Period
            Table 30 Market for Other Rf Devices, By Type, 2015–2024 (USD Million)
    7.7 Power Electronics
           7.7.1 Increasing Importance of GaN and SIC Devices in Power Supply, Ups, and Wireless Charging Provides Opportunity for Power Electronics Segment
                     Figure 34 SIC to Hold Largest Size for Power Electronics During Forecast Period
                     Table 31 Market for Power Electronics, By Type, 2015–2024 (USD Million)
                     Table 32 Market for Power Electronics, By Application, 2015–2024 (USD Million)

8 Compound Semiconductor Market, By Application (Page No. - 87)
    8.1 Introduction
            Figure 35 Telecommunications to Hold Largest Size Compound Semiconductor Market During Forecast Period
            Table 33 Market, By Application, 2015–2024 (USD Million)
    8.2 General Lighting
           8.2.1 Increasing Penetration of LEDs in General Lighting Applications Provides Opportunity for GaN and GaN-On-Silicon LED Market
                     Figure 36 GaN to Lead General Lighting Market During Forecast Period
                     Table 34 Market for General Lighting Applications, By Type, 2015–2024 (USD Million)
                     Figure 37 APAC to Dominate Market for General Lighting Application During Forecast Period
                     Table 35 Semiconductor Market for General Lighting Applications, By Region, 2015–2024 (USD Million)
    8.3 Telecommunications
           8.3.1 Increasing Adoption of Compound Semiconductors for Telecom Infrastructure and Communication Devices Drives the Market
                     Figure 38 Gaas to Dominate Market for Telecommunications Application During Forecast Period
                     Table 36 Market for Telecommunications Applications, By Type, 2015–2024 (USD Million)
                     Figure 39 APAC to Grow at Higest Rate in Market for Telecommunications Application During Forecast Period
                     Table 37 Market for Telecommunications Application, By Region, 2015–2024 (USD Million)
    8.4 Military, Defense, and Aerospace
           8.4.1 High Power Capability of GaN Makes It Suitable Material for Its Adoption in Military & Defense Applications
                     Figure 40 GaN Market to Grow at Highest Rate for Military, Defense, & Aerospace Application During Forecast Period
                     Table 38 Market for Military, Defense, & Aerospace Applications, By Type, 2015–2024 (USD Million)
                     Figure 41 North America to Lead Market for Military, Defense & Aerospace Application During Forecast Period
                     Table 39 Market for Military, Defense, & Aerospace Application, By Region, 2015–2024 (USD Million)
    8.5 Automotive
           8.5.1 Increasing Importance of Advanced Power Semiconductor Devices in Automotive Application Drives SIC and GaN Power Electronics Market
                     Figure 42 SIC to Grow at the Highest CAGR for Automotive Application During Forecast Period
                     Table 40 Market for Automotive Applications, By Type, 2015–2024 (USD Million)
                     Table 41 Market for Automotive Application, By Region, 2015–2024 (USD Million)
    8.6 Power Supply
           8.6.1 Wireless Charging to Provide Opportunity for GaN and SIC Devices Market
                     Figure 43 GaN Market to Grow at Highest Rate for Power Supply Application During Forecast Period
                     Table 42 Market for Power Supply Applications, By Type, 2015–2024 (USD Million)
                     Table 43 Market for Power Supply Application, By Region, 2015–2024 (USD Million)
    8.7 Datacom
           8.7.1 Increasing Demand for High-Speed Transceivers in Data Center Drives Compound Semiconductor Market Growth
                     Table 44 Market for Datacom Applications, By Type, 2015–2024 (USD Million)
                     Table 45 Market for Datacom Application, By Region, 2015–2024 (USD Million)
    8.8 Consumer Displays
           8.8.1 Demand for GaN LEDs for Backlighting Plays an Important Role for Consumer Display Application
                     Table 46 Market for Consumer Displays Applications, By Type, 2015–2024 (USD Million)
                     Table 47 Market for Consumer Display Application, By Region, 2015–2024 (USD Million)
    8.9 Commercial
           8.9.1 Increasing Importance of Digital Signage Provides Opportunity for Compound Semiconductor-Based LED Market
                     Table 48 Market for Commercial Applications, By Type, 2015–2024 (USD Million)
                     Table 49 Market for Commercial Application, By Region, 2015–2024 (USD Million)
    8.10 Others
                     Table 50 Market for Other Applications, By Type, 2015–2024 (USD Million)
                     Table 51 Market for Other Applications, By Region, 2015–2024 (USD Million)

9 Geographic Analysis (Page No. - 107)
    9.1 Introduction
            Figure 44 APAC to Dominate Market During Forecast Period
            Table 52 Market, By Region, 2015–2024 (USD Million)
    9.2 North America
            Figure 45 North America: Snapshot of Compound Semiconductor Market
            Figure 46 US to Dominate the Market in North America
            Table 53 Market in North America, By Country, 2015–2024 (USD Million)
            Table 54 Market in North America, By Application, 2015–2024 (USD Million)
           9.2.1 US
                    9.2.1.1 Rising Adoption of Compound Semiconductors in Military and Defense to Boost Market Growth
           9.2.2 Canada
                    9.2.2.1 Rising Trends of Electric Vehicles and Solar Energy to Boost Market
           9.2.3 Mexico
                    9.2.3.1 Increasing Government Initiatives in 5g and Renewable Energy Sources Drives Market Growth
    9.3 Europe
            Figure 47 Europe: Snapshot of Market
            Figure 48 Germany to Hold the Largest Size of the Market in Europe
            Table 55 Market in Europe, By Country, 2015–2024 (USD Million)
            Table 56 Market in Europe, By Application, 2015–2024 (USD Million)
           9.3.1 Germany
                    9.3.1.1 Germany to Dominate European Market Owing to Growing Automotive Industry and Need for Electric Vehicles
           9.3.2 UK
                    9.3.2.1 Growing Initiatives From UK Government and Private Players to Augment Market Growth
           9.3.3 France
                    9.3.3.1 Telecom and Automotive Industries to Provide Opportunities for Market
           9.3.4 Italy
                    9.3.4.1 Growing Automotive Industry in Italy Provides Opportunities for Market for LED and Power Electronics Segments
           9.3.5 Rest of Europe
    9.4 APAC
            Figure 49 APAC: Snapshot of Market
            Figure 50 China to Dominate Market in APAC During Forecast Period
            Table 57 Market in APAC, By Country, 2015–2024 (USD Million)
            Table 58 Market in APAC, By Application, 2015–2024 (USD Million)
           9.4.1 China
                    9.4.1.1 Increasing Trends of 5g and Ev to Drive Semiconductor Market Growth
           9.4.2 Japan
                    9.4.2.1 Growth is Driven By Rising Adoption of Compound Semiconductor Devices in Telecommunications, Lighting, and Automotive Applications
           9.4.3 South Korea
                    9.4.3.1 Compound Semiconductor Market Growth Mainly Driven By Telecommunications Application
           9.4.4 Rest of APAC
    9.5 RoW
            Figure 51 South America to Lead Market in RoW During Forecast Period
            Table 59 Semiconductor Market in RoW, By Region, 2015–2024 (USD Million)
            Table 60 Market in RoW, By Application, 2015–2024 (USD Million)
           9.5.1 South America
                    9.5.1.1 GaN and Gaas Markets Expected to Grow Significantly
           9.5.2 Middle East and Africa
                    9.5.2.1 Telecommunications Application Provides Growth Prospects for Market

10 Competitive Landscape (Page No. - 127)
     10.1 Overview
              Figure 52 Organic and Inorganic Strategies Adopted By Companies Operating in Compound Semiconductor Market
     10.2 Ranking Analysis of Market Players
              Figure 53 Ranking Analysis of Market Players, 2018
     10.3 Competitive Leadership Mapping
             10.3.1 Visionary Leaders
             10.3.2 Dynamic Differentiators
             10.3.3 Innovators
             10.3.4 Emerging Players
                        Figure 54 Market (Global) Competitive Leadership Mapping (2018)
     10.4 Developments
             10.4.1 Product Launches/Developments
                        Table 61 Product Launches, 2018–2019
             10.4.2 Agreements, Collaborations, Partnerships, and Contracts
                        Table 62 Agreements, Collaborations, Partnerships, and Contracts, 2017–2018
             10.4.3 Acquisitions
                        Table 63 Acquisitions, 2018
             10.4.4 Expansions
                        Table 64 Expansions, 2018

11 Company Profiles (Page No. - 133)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     11.1 Introduction
     11.2 Key Players
             11.2.1 Nichia
                        Figure 55 Nichia: Company Snapshot
             11.2.2 Samsung Electronics
                        Figure 56 Samsung Electronics: Company Snapshot
             11.2.3 OSRAM
                        Figure 57 OSRAM: Company Snapshot
             11.2.4 Qorvo
                        Figure 58 Qorvo: Company Snapshot
             11.2.5 Skyworks
                        Figure 59 Skyworks: Company Snapshot
             11.2.6 Cree
                        Figure 60 Cree: Company Snapshot
             11.2.7 GaN Systems
             11.2.8 Infineon
                        Figure 61 Infineon: Company Snapshot
             11.2.9 Mitsubishi Electric
                        Figure 62 Mitsubishi Electric: Company Snapshot
             11.2.10 NXP
                           Figure 63 NXP: Company Snapshot
             11.2.11 on Semiconductor
                           Figure 64 on Semiconductor: Company Snapshot
     11.3 Other Key Players
             11.3.1 Analog Devices
             11.3.2 Broadcom
             11.3.3 EPC
             11.3.4 Lumentum
             11.3.5 Macom
             11.3.6 Microsemi
             11.3.7 NeoPhotonics
             11.3.8 Renesas Electronics
             11.3.9 Rohm
             11.3.10 San'an
             11.3.11 STMicroelectronics
             11.3.12 Exagan
             11.3.13 Visic Technologies
             11.3.14 Transphorm

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 172)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details

The study involved 4 major activities to estimate the market size for compound semiconductors. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market. After that, market breakdown and data triangulation methods were used to estimate the market for segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The compound semiconductor market comprises several stakeholders, such as R&D, material and substrate providers, epitaxy providers, component/device manufacturers, OEMs, and regulatory organizations in the supply chain. The demand side of this market includes general lighting, consumer displays, telecommunications, power supply, military and defense, automotive, and datacom applications. Various primary sources from both supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as follows

Compound Semiconductor Market

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the compound semiconductor market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size is as follows:

  • Key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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. 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 demand and supply sides in general lighting, consumer displays, telecommunications, power supply, military and defense, automotive, and datacom 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 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, contracts, agreements, and partnerships in the market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players
Report Code
SE 2588
Published ON
Dec, 2019
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