LOS ANGELES, Aug. 30, 2019 (GLOBE NEWSWIRE) -- The global compound semiconductor market value is expected to reach around USD 55 billion by 2026, at a significant rate of 7.1% during the forecasted period 2019 to 2026.
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The global compound semiconductor market is majorly driven by increase in government and stakeholders funding for compound semiconductors. Continuously increasing use of compound semiconductors in consumer electronics across the globe has driven the growth of the global compound semiconductor market. Additionally, increasing R&D expenditure and government initiatives have boosted the growth of the compound semiconductor market. Increase in adoption of smartphones is also expected to drive the growth of global compound semiconductor market over the forecast period. On the other hand, the compatibility issues with respect to silicon are expected to slow the growth of the compound semiconductor market during the forecasted period.
The global compound semiconductor market is segmented by type, deposition technology, product, application and region.
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On the basis of type, the market is segmented into type (III-V compound semiconductors, II-VI compound semiconductors, IV-IV compound semiconductors, Sapphire, and Others. The IV-IV compound semiconductors are accounted for major share in the compound semiconductor market. Based on deposition technology, the market is segmented into Molecular Beam Epitaxy (MBE), Chemical Vapor Deposition (CVD), Ammonothermal, Hydride Vapor Phase Epitaxy (HVPE), Atomic Layer Deposition (ALD), Liquid Phase Epitaxy (LPE), and others. The CVD segment dominated the global compound semiconductor market owing to its increased use in consumer electronics, automotive, healthcare among others. On the basis of products, the global compound semiconductor market is segmented into transistors. Integrated Circuits (ICs), Power Semiconductor, Diodes & rectifiers and others. On the basis of application, the market is segmented into automotive, industrial and energy & power, IT & telecom, consumer electronics, aerospace & defense and healthcare. Consumer electronics holds the major share in the global compound semiconductor market and is anticipated to witness fastest growth till the end of forecast period.
Geographically, compound semiconductor market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
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Asia-Pacific dominates the global compound semiconductor markets across the globe as it is one of the pioneers in the use of compound semiconductor systems. Also, the rapid adoption of technological innovations and product launches by this region is anticipated to drive the growth of compound semiconductor market. Increasing government support and growing expenditure on R&D are also projected to drive the Europe compound semiconductor market. France and Germany are the largest contributors to Europe market growth owing to increasing investments in consumer electronics sector. Additionally, to meet the upcoming demand and grab the major share of the market, most of the key players are heavily investing in research and development activities and using modern technologies in R&D in this region which has supported the growth of the compound semiconductor market in Europe.
Asia Pacific is the fastest growing region for the compound semiconductor market owing to the presence of the huge developing economy, increasing R&D spending and continuously increasing government support. China, Japan and South Korea are expected to contribute major shares in the Asia Pacific compound semiconductor market.
However, Latin American and the Middle Eastern countries market are projected to drive the LAMEA market. Huge spending power in the Middle East region has also supported the growth of the market.
Some of the top key players in the market are Samsung Electronics, Nichia, OSRAM, Cree, Skyworks, GaN, Mitsubishi Electric, ON Semiconductor, Broadcom and Qurvo. Mergers and acquisitions and product launches are expected to be some of the major strategies adopted by these companies in order to gain larger market shares in compound semiconductor market. Increase in R&D spending and funding has also been one of the major strategies adopted by key players in compound semiconductor market in order to gain strategic advantage over their competitors.
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