LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global compound semiconductor market is projected to grow to USD 14.1 billion by 2021, at a CAGR of more than 8% over the forecast period.
This research report titled ‘Global Compound Semiconductor Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Compound semiconductors are used in components such as monolithic microwave integrated circuits (ICs), solar cells, infrared light-emitting diodes (LEDs), laser diodes, LEDs, optical sensors, and power devices such as MOSFETs, insulated gate bipolar transistors (IGBTs), and high-electron-mobility transistors (HEMTs). The market is expected to rise at a moderate CAGR rate due to the growing demand for smartphones, high power density products, and energy-efficient products that can reduce power consumption.|
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Based on the type, the report categorizes the global compound semiconductor market into the following segments:
- Gallium arsenide (GaAs)
- Gallium nitride (GaN)
- Silicon carbide (SiC)
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The top three revenue-generating semiconductor segments in the global compound semiconductor market are discussed below:
Gallium arsenide (GaAs)
“The gallium arsenide segment occupied a majority 79% of the global compound semiconductor market in 2016. The market segment is expected to see a moderate growth rate, attributed to the enhanced durability, efficient power consumption, and superior performance of these components,” says Sunil Kumar Singh, a lead analyst at Technavio for semiconductor equipment research.
The benefits of GaAs make these components an attractive solution in sectors such as consumer electronics and communications. This will ultimately increase the market revenue during the forecast period. Also, GaAs-based semiconductors hold a major portion of the global compound semiconductor market due to their wide adoption in smartphones.
Gallium nitride (GaN)
The global compound semiconductor market by GaN is estimated to grow to USD 2.96 billion by 2021. GaN displays brighter emissions than other materials such as Si, SiC, and GaAs, which leads to GaN opto-semiconductor devices being used increasingly in LEDs, laser diodes, and optocouplers. Thus, GaN is largely used in opto-semiconductors that are designed for high-brightness applications.
Additionally, the use of GaN in power semiconductors devices is expected to rise at a rapid rate due to superior characteristics of GaN over silicon. The market for GaN is expected to see a moderate growth rate during the forecast period due to the high demand for GaN opto-semiconductor devices in the LED market.
Silicon carbide (SiC)
“The global compound semiconductor market by silicon carbide is estimated to showcase a CAGR of nearly 36% over the forecast period. Silicon carbide is majorly used for power semiconductors such as power modules, and discrete power devices, namely, Schottky diodes, MOSFETs, and other transistors,” says Sunil.
Other major reasons for the high growth of the SiC market is increased investments in the SiC technology, demand for high power density products, and adoption of clean energy sources globally. The potential of SiC over silicon will also be a major driver as the demand for compact and energy-efficient solutions is increasing at an extraordinary pace. Vendors are trying to reduce the manufacturing expense every year by increasing the production and achieving economies of scale.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Skyworks Solutions
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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