Portland, OR, Sept. 15, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global epitaxial wafer market for compound semiconductor was pegged at $2.65 billion in 2019 and is expected to hit $7.27 billion by 2027, registering a CAGR of 13.2% from 2020 to 2027. The report provides an all-inclusive analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
On the other hand, surge in cost of wafer manufacturing impedes the growth to certain extent. However, emerging usage of compound semiconductors in smart technologies and increase in popularity of IoT in wafer manufacturing are projected to pave the way for an array of opportunities for the key players in the industry.
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Covid-19 scenario-
- The pandemic accrued a number of regulations and the manufacturing and supply of epitaxial wafers were greatly impacted during the first phase of the lockdown. This, in turn, led to limited production of the compounds.
- Nevertheless, government bodies across the world are now bringing in relaxations on the current regulations and restrictions, thereby enabling the global epitaxial wafer market for compound semiconductor to renew their projects and plans with a full sway.
The global epitaxial wafer market for compound semiconductor is analyzed across applications, end-users, and regions. By application, the global CS power electronics segment accounted for around one-third of the total market revenue in 2019 and is projected to lead the trail by 2027. At the same time, the CS sensing segment would register the fastest CAGR of 16.3% throughout the forecast period.
By end user, the industrial and energy & power segment contributed to nearly one-fourth of the total market share in 2019 and is anticipated to rule the roost till 2027. The digital economy segment, on the other hand, would portray the fastest CAGR of 17.0% during the estimated period.
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By geography, the U.S held the highest share in 2019, generating nearly one-fourth of the global market. Simultaneously, China would manifest the fastest CAGR of 16.0% from 2020 to 2027. The other segments covered in the report include the UK and Rest of the World.
The key market players analyzed in the global epitaxial wafer market for compound semiconductor report include Cree Inc., Epistar Corporation, GLC Semiconductor Group, Masimo Semiconductor, SK Siltron Co., Ltd., Sumitomo Electric Industries Ltd., Nichia Corporation, Intelligent Epitaxy Technology Inc., II-VI Incorporated, and IQE PLC. These market players have implemented several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
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