PUBLISHER: The Business Research Company | PRODUCT CODE: 1414308
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414308
“Indium Phosphide Compound Semiconductor Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on indium phosphide compound semiconductor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for indium phosphide compound semiconductor? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The indium phosphide compound semiconductor market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Indium phosphide is a binary semiconductor consisting of indium and phosphorus, possessing a face-centered cubic (zincblende) crystal structure, which is similar to that of GaAs and most III-V semiconductors. This material serves as the foundation for optoelectronic components, high-speed electronics, and photovoltaic applications.
The primary products derived from indium phosphide compound semiconductors include power semiconductors, transistors, integrated circuits, diodes and rectifiers, among others. Power semiconductors function as switches or rectifiers in power electronics, playing a role in controlling the speed of devices such as fans, managing electricity ON/OFF states, or amplifying signals in power amplifiers. These devices find application in power electronics, sensing, photonics, radio frequency (RF) and microwave technologies, as well as quantum applications. End-users across various industries, including information technology (IT) and telecommunications, industrial and energy, aerospace and defense, automotive, consumer electronics, healthcare, and test and measuring instruments, utilize indium phosphide compound semiconductors for their specific applications.
The indium phosphide compound semiconductor market research report is one of a series of new reports from The Business Research Company that provides indium phosphide compound semiconductor market statistics, including the indium phosphide compound semiconductor industry's global market size, regional shares, competitors with an indium phosphide compound semiconductor market share, detailed indium phosphide compound semiconductor market segments, market trends, and opportunities, and any further data you may need to thrive in the indium phosphide compound semiconductor industry. This indium phosphide compound semiconductor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The indium phosphide compound semiconductor market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The expansion observed in the historical period can be attributed to factors such as the growth of telecommunications infrastructure, demand in defense and aerospace applications, deployments of fiber optic networks, the establishment of satellite communication systems, and the increased need for high-speed data transmission.
The indium phosphide compound semiconductor market size is expected to see rapid growth in the next few years. It will grow to $9.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The anticipated growth in the forecast period can be attributed to the emergence of quantum computing, an increasing demand in healthcare imaging, applications in optical sensing and LiDAR, advancements in space exploration and satellite technology, and the expansion of data centers. Key trends expected in the forecast period involve a focus on monolithic microwave integrated circuits (MMICs), advancements in power electronics, innovations in quantum dot lasers, the development of high-speed transistors, and an increasing emphasis on environmentally friendly manufacturing.
The expected surge in demand from the aerospace and defense industries is set to drive the growth of the indium phosphide compound semiconductor market. The aerospace and defense sectors encompass activities related to the design, development, production, and maintenance of aircraft, spacecraft, and defense systems. These industries include companies that supply products and services to military, government agencies, and commercial customers. Within the aerospace and defense sectors, indium phosphide wafers find application in optoelectronic devices such as laser diodes, photodetectors, LEDs, and optical transceivers used in optical fiber communication systems. Notably, the Aerospace Industries Association (AIA) reported an 11.2% increase in exports from the aerospace and defense industry, reaching a total value of $100.4 billion between 2020 and 2021. Consequently, the heightened demand in the aerospace and defense industries is a significant factor fueling the expansion of the indium phosphide compound semiconductor market.
The escalating penetration of the internet is anticipated to drive the growth of the indium phosphide compound semiconductor market. As a vital component for high-performance internet technologies, indium phosphide plays a crucial role in enhancing speed and efficiency in fiber optic communications, optical networking, and high-frequency electronics. Recent statistics from DataReportal indicate that a total of 5.07 billion people worldwide use the internet, constituting 63.5% of the global population. Internet usage continues to grow, with over 170 million new users added in the past 12 months. This upward trend in internet penetration is a key driver propelling the growth of the indium phosphide compound semiconductor market.
Technological advancements represent a prominent trend in the indium phosphide compound semiconductor market. Companies operating in this market are adopting new technologies to maintain their competitive edge. For example, Infinera, a US-based optical networking solutions company, recently conducted the industry's first testing of point-to-multipoint coherent pluggable transceiver technology in Japan in collaboration with Sumitomo Electric. This testing showcased the role of XR optics technology in cost-effectively addressing the 5G bandwidth growth in Japan. Indium phosphide's advantages, such as its ability to handle high frequencies and high power, make it an ideal choice for high-speed transmission in XR optics technology.
Major players in the indium phosphide compound semiconductor market are introducing innovative products, such as integrated equipment, to enhance their market profitability. Integrated equipment for supporting compound semiconductor manufacturing refers to a comprehensive system or set of machinery designed to facilitate and optimize production processes involved in manufacturing compound semiconductors. Shengmei Semiconductor Equipment Co., Ltd., a China-based semiconductor equipment manufacturer, launched a new series of compound semiconductor equipment designed to assist in the production of compound semiconductors, including silicon carbide (SiC), gallium nitride (GaN), and gallium arsenide (GaAs) processes. This product line comprises various equipment, offering automatic compatibility with different wafer types and ensuring high precision in processes such as wet etching.
In July 2022, II-VI Incorporated, a US-based company specializing in engineered materials and optoelectronic components, completed the acquisition of Coherent for an undisclosed amount. This strategic move broadens, diversifies, and enriches II-VI's portfolio, positioning it as a global leader in materials, networking, and lasers. The acquisition is expected to leverage disruptive technology platforms and complementary scale to address an expanded customer base. Coherent Inc., the acquired company, operates in the indium phosphide compound semiconductor market.
Major companies operating in the indium phosphide compound semiconductor market report are AXT Inc., Sumitomo Electric Industries Ltd., II-VI Incorporated, Wafer World Inc., IQE plc, Intelligent Epitaxy Technology Inc., Xiamen Powerway Advanced Material Co. Ltd., Infinera Corporation, Keysight Technologies, Beijing Tongmei Xtal Technology Co., MACOM Technology Solutions, Logitech Ltd., Semiconductor Wafer Inc., CoorsTek, Samsung Semiconductor Inc., Western Minmetals Corporation, Century Goldray Semiconductor Co. Ltd., Ding Ten Industrial Inc., JX Nippon Mining & Metals Corporation, Lumentum Operations LLC, NeoPhotonics Corporation, Broadcom Inc., Finisar Corporation, Oclaro Inc., Emcore Corporation, Fujitsu Optical Components Limited, Foxconn interconnect technology Ltd., Accelink technologies Co Ltd., Sony Corporation, ThousandEyes Inc.
Asia-Pacific was the largest region in the indium phosphide compound semiconductor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global indium phosphide compound semiconductor market report during the forecast period. The regions covered in the indium phosphide compound semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the indium phosphide compound semiconductor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The indium phosphide compound semiconductor market consists of sales of solar cells, electro-optic devices, and high-speed and high-power devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.