North America's hidden growth opportunity on Compound Semiconductor Market worth .8 BillionPosted by Vikas Gadiya on December 13th, 2022 Attractive Opportunity: Supercharge your Visualization The forecast period. Increasing use of compound semiconductors in LED applications and the rising demand for high-speed and advanced devices in datacom applications play a key role in driving the growth of compound semiconductor market in near future. Growing demand for SiC devices in power electronics, continuous emergence of technologies in GaN ecosystem are among the factors driving the growth of the compound semiconductor market. Industry Trends of the Global Compound Semiconductor Market : The Compound Semiconductor Market size is projected to reach USD 55.8 billion by 2027 from an estimated USD 40.5 billion in 2022, at a CAGR of 6.6% from 2022 to 2027. Increasing use of GaN in general lighting, signage, and automotive applications to drive GaN segment GaN is used in various applications, such as power drives, radio frequency, lighting and lasers, and supplies and inverters, which can be adopted in different verticals, including automotive, telecommunications, consumer display and devices, military, defense and aerospace, and datacom. One of the other major driving factors for the GaN material is the massive demand from the RF semiconductor device industry. The RF industry started its quest for alternate semiconductor materials. Owing to its ability to deliver high power amplification at high-frequency ranges, GaN semiconductor devices penetrated the RF power semiconductor device industry, bolstering its growth. Compound Semiconductor Market : Top Leading Companies Profiles Key Benefits For Stakeholders: The growth of telecommunication application is driven by increasing demand for RF devices. To meet all the requirements for 4G and 5G, including saturated and linear efficiency, it is necessary to use a power amplifier manufactured with a compound semiconductor technology, which is expected to drive market growth during the forecast period. Skyworks Solutions, Inc. focuses on launching RF-based devices, planning to conquer the opportunities in the telecommunications sector. Similarly, NXP Semiconductors N.V. plans to invest in 5G and wireless infrastructure markets with its leadership in GaN, LDMOS, and 5G mm-Wave. The key players operating in the compound semiconductor market include Nichia Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), ams OSRAM AG (Austria), Qorvo, Inc. (US), Skyworks Solutions, Inc. (US), Wolfspeed, Inc. (US), GaN Systems (Japan), Canon Inc. (Canada), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), are some of the key players in the compound semiconductor market. Compound Semiconductor Market - Geographical Regional Vision by MarketsandmarketsTM The market in North America is expected to grow at the second highest CAGR during the forecast period. The growing electric and hybrid vehicle market in North America is expected to support the growth of the compound semiconductor market. North America is a regional hub for many renowned OEMs that deliver quality and high-performance vehicles. OEMs in North America, such as Tesla and GM, focus on developing faster, cleaner, and high-performance electric vehicles Regions & Countries Covered: About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. Contact: Like it? Share it!More by this author |