Compound Semiconductor Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024

Description

The Global Compound Semiconductor Market, valued at USD 44.5 billion in 2023, is projected to grow at 10.9% CAGR from 2024 to 2032. This growth is driven by the distinct advantages of compound semiconductors, which provide superior performance in high-frequency, high-power, and energy-efficient applications. These materials excel in telecommunications, electric vehicles, renewable energy, and aerospace, where their ability to handle extreme conditions, higher power, and heat resistance surpasses traditional silicon semiconductors.

One of the key drivers of the market is the growing demand for advanced technologies that require high-performance materials. Compound semiconductors outperform silicon in terms of power efficiency and heat resistance, making them well-suited for next-generation applications. For example, in telecommunications, these materials are critical for 5G infrastructure and satellite communications, where high frequencies and minimal energy loss are essential. Additionally, their ruggedness makes them ideal for use in harsh environments, such as defense and aerospace, where reliability is paramount.

The market is segmented based on material type, including GaN, gallium arsenide (GaAs), silicon carbide (SiC), indium phosphide (InP), silicon germanium (SiGe), and gallium phosphide (GaP), among others. The GaN segment is anticipated to grow significantly, reaching USD 25 billion by 2032. GaN is highly sought after for its wide bandgap, which enables it to handle high voltages, frequencies, and temperatures. This makes it a key material for power electronics, radio frequency (RF) devices, and high-efficiency systems, particularly in applications such as 5G.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$44.5 Billion
Forecast Value	$111.6 Billion
CAGR	10.9%

In terms of deposition technologies, the market includes methods such as Chemical Vapor Deposition (CVD), Molecular Beam Epitaxy (MBE), and Hydride Vapor Phase Epitaxy (HVPE). Among these, MBE is gaining traction due to its ability to precisely control thin film deposition at the atomic level, ensuring the production of high-quality, defect-free layers. This is particularly valuable in fields like quantum computing, optoelectronics, and high-frequency devices, where material purity is crucial.

U.S. compound semiconductor market in 2023 held 30.6% share in 2023. The region is seeing rapid growth driven by investments in high-performance applications, such as 5G networks, electric vehicles, and renewable energy technologies. The U.S. is also a leader in semiconductor research and development, bolstered by initiatives aimed at enhancing domestic manufacturing and reducing dependence on imports.

Product Code: 12298

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Key news & initiatives
3.5 Regulatory landscape
3.6 Impact forces
- 3.6.1 Growth drivers
  - 3.6.1.1 Electric vehicles and renewable energy
  - 3.6.1.2 Miniaturization and compact design requirements
  - 3.6.1.3. Rapid development of 5 G networks
  - 3.6.1.4 Rising R&D investment
  - 3.6.1.5 Growing photonics and optoelectronics demand
- 3.6.2 Industry pitfalls & challenges
  - 3.6.2.1 High production costs
  - 3.6.2.2 Material availability and supply chain risks
3.7 Growth potential analysis
3.8 Porter's analysis
3.9 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Deposition Technologies, 2021-2032 (USD Million)

5.1 Key trends
5.2 Chemical Vapor Deposition (CVD)
5.3 Molecular Beam Epitaxy
5.4 Hydride Vapor Phase Epitaxy (HVPE)
5.5 Ammonothermal
5.6 Liquid phase epitaxy
5.7 Atomic Layer Deposition (ALD)
5.8 Others

Chapter 6 Market Estimates & Forecast, By Type, 2021-2032 (USD Billion & Units)

6.1 Key trends
6.2 GaN
- 6.2.1 Aluminum Gallium Nitride (AlGaN)
- 6.2.2 Indium Gallium Nitride (INGAN)
6.3 Gallium Arsenide (GAAS)
- 6.3.1 Aluminum Gallium Arsenide (ALGAAS)
6.4 Silicon Carbide (SiC)
6.5 Indium Phosphide (INP)
6.6 Silicon Germanium (SIGE)
6.7 Gallium Phosphide (GAP)
- 6.7.1 Aluminum Gallium Phosphide (ALGAP)
6.8 Others

Chapter 7 Market Estimates & Forecast, By Product, 2021-2032 (USD Billion & Units)

7.1 Key trends
7.2 LED
7.3 Optoelectronics
7.4 RF Devices
- 7.4.1 RF Power
- 7.4.2 RF switching
- 7.4.3 Other RF devices
7.5 Power electronics
- 7.5.1 Discrete
  - 7.5.1.1 Transistor
    - 7.5.1.1.1 Metal Oxide Field-Effect Transistor (MOSFET)
    - 7.5.1.1.2 High Electron Mobility Transistor (HEMT)
- 7.5.2 Diode
  - 7.5.2.1 Schottky diode
  - 7.5.2.2 PIN diode
- 7.5.3 Bare die
- 7.5.4 Module

Chapter 8 Market Estimates & Forecast, By Application, 2021-2032 (USD Billion & Units)

8.1 Key trends
8.2 General lighting
8.3 Telecommunication
8.4 Military, defense and aerospace
8.5 Automotive
8.6 Power supply
8.7 Datacom
8.8 Consumer display
8.9 Commercial
8.10 Consumer devices
8.11 Others

Chapter 9 Market Estimates & Forecast, By Region, 2021-2032 (USD Billion & Units)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia

Chapter 10 Company Profiles

10.1 Advanced Wireless Semiconductor Company
10.2 Ams osram ag
10.3 Cree Inc.
10.4 Gan systems
10.5 GaN Systems Inc.
10.6 Infineon technologies ag
10.7 Microsemi Corporation (Microchip Technology Inc.)
10.8 Mitsubishi electric corporation
10.9 Mitsubishi Electric Corporation
10.10 Nichia corporation
10.11 Nxp semiconductors n.v.
10.12 ON Semiconductor Corp. (Semiconductor Components Industries Llc)
10.13 Qorvo, inc.
10.14 Renesas electronics corporation
10.15 Samsung electronics co., ltd.
10.16 Skyworks solutions, inc.
10.17 STMicroelectronics N.V.
10.18 Taiwan Semiconductor Manufacturing Company Ltd.
10.19 Texas Instruments Inc.
10.20 WIN Semiconductors Corp.
10.21 Wolfspeed, inc.

Compound Semiconductor Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032