The Compound Semiconductor Market: Growth and Opportunities by 2025


Posted July 8, 2022 by estherwjarrell

The growing use of compound semiconductors in LED applications is likely to boost the market growth.

 
The global compound semiconductor market is projected to grow from USD 32.0 billion in 2020 to USD 43.4 billion by 2025, at a CAGR of 6.3%. The increasing demand and implementation of GaN and SiC in the semiconductor industry is one of the key factors driving the growth of the compound semiconductor market. Also, the growing use of compound semiconductors in LED applications is likely to boost the market growth.

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The compound semiconductor market is competitive, owing to the presence of several players. Key strategies adopted by these players to expand their product portfolio, increase their market share, and expand their presence in the market are agreements and product launches. Many market players adopted product launch as their primary business strategy. For instance, in May 2020, OSRAM, the subsidiary of ams (Austria), launched a new OSRAM 24V TEC Flex family that offers uniform illumination for a broad range of indoor and outdoor applications. TEC Flex Tunable White (TW) can be used for continuously modulating the color temperature from 2700 K to 6500 K while maintaining a high color yield. Apart from this, players have also adopted the agreement strategy to expand their businesses. For instance, in March 2020, ON Semiconductor entered into a 5-year agreement with GT Advanced Technologies (GTAT) (US) for the production and supply of silicon carbide material. With this agreement, GTAT will produce and supply its CrystX silicon carbide (SiC) material to ON Semiconductor. This agreement is valued at a potential of USD 50 million.

Related Article : https://agreatertown.com/new_york_ny/discover_top_5_revenue_growth_opportunities_in_compound_semiconductor_0001034100191

Nichia largely focuses on R&D activities and is an early inventor of various types of LEDs. For example, the company invented blue and white LEDs. It was the first company to invent and commercialize blue LED in 1993 and developed the world’s first white LED by combining yellow phosphor and blue LED, followed by the development of blue–violet semiconductor laser. Further, the invention of nitride-based LED and laser diodes led to the technological innovation of light sources in the field of display, general lighting, automotive, industrial equipment, and medical care and measurement. Therefore, it is expected that the company would invest in GaN-based LEDs and continue to be a leader in the compound semiconductor-based LED market. The company focuses on product launch as its key growth strategy. For instance, in September 2019, the company announced the launch of a tunable 2-in-1 white LED with a single light-emitting surface (LES). This proprietary 2-in-1 LED technology offers a high color quality, in some cases up to ~90 CRI. Also, in April 2019, the company launched a new 280 nm deep UV LED, UCV NCSU334A. This new product finds applications in water purification and air sterilization using solid-state lighting. The company plans to invest and focus on automotive applications to be a leading supplier in the compound semiconductor market.

The Major Players Operating in the Global Compound Semiconductor Market.

Nichia (Japan),
Samsung Electronics (South Korea),
ams (Austria),
Qorvo (US),
Skyworks (US),
Cree (US),
GaN Systems (Canada) and many more.

Don’t miss out on business opportunities in Compound Semiconductor Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
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Issued By Mr. Ashish Mehra
Country Denmark
Categories Advertising
Last Updated July 8, 2022