Portland, OR, Aug. 03, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Research, the global generated $89.94 billion in 2019, and is estimated to reach $212.95 billion by 2027, registering a CAGR of 11.1% from 2020 to 2027. The report offers an extensive analysis of changing dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for epitaxial wafer in LED technology and growing adoption of compound semiconductors compared to silicon-based technology drive the growth of the global compound semiconductor market. However, high cost associated with compound semiconductor components and materials is anticipated to restrain the market growth. Furthermore, rise in usage in smart technologies is expected to provide new growth opportunities during the forecast period.
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Covid-19 scenario:
- Major compound semiconductor manufactrurers across the globe have halted their production activities due to disrupted supply of raw materials such as gallium and arsenide due to restrictions on mobility amid lockdown.
- Electronic components such as LED chips, PCBs, ICs, and wafers are mostly imported from China. Due to the shutdown of manufacturing units in China amid the lockdown, the prices of compound semiconductor components have been increased by 2-3% due to shortage of supplies.
The report offers a detailed segmentation of the global compound semiconductor market based on type, deposition technology, product, application, and region.
Based on type, the III-V compound semiconductors segment contributed to the largest share in 2019, accounting for nearly one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the sapphire segment is estimated to portray the highest CAGR of 13.5% during the forecast period.
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Based on deposition technology, the chemical vapour deposition segment accounted for the largest share in 2019, holding more than one-fourth of the total share, and is expected to maintain the largest share throughout the forecast period. However, the molecular beam epitaxy segment is expected to register the highest CAGR of 12.8% from 2020 to 2027.
Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the total share in 2019, and will maintain its dominance throughout the forecast period. In addition, it is expected to grow at the highest CAGR of 13.2% from 2020 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.
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Leading players analyzed in the research include Nichia Corporation, Cree Inc., Qorvo, Samsung Electronics, Taiwan Semiconductor Manufacturing Company Ltd., NXP Semiconductor N.V., Texas Instruments Inc., Renesas Electronics Corporation, Infineon Technologies AG, and STMicroelectronics NV.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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