The Compound Semiconductor Market reached USD 22,931 million in 2021 and is expected to register at a CAGR of 11. 1% over the forecast period 2022-2027. The COVID-19 pandemic halted the manufacturing of several products in the compound semiconductor production industry, owing to continued lockdown in critical global regions.
New York, Sept. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Compound Semiconductor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06317787/?utm_source=GNW In addition, country-wise lockdown inflicted by governments across the globe further resulted in sectors taking a hit and disrupting supply chains and manufacturing operations worldwide. Most manufacturing operations, including the factory floor work, were significantly affected, resulting in decreased productivity. Key Highlights Compound semiconductors are made from two or more elements of the different or same group of the periodic table. These are manufactured by using various types of deposition techniques, such as chemical vapor deposition, atomic layer deposition, and others. They possess unique properties like high temperature and heat resistance, enhanced frequency, high sensitivity to magnetism, and faster operation and optoelectronic features are some of the key advantages boosting their demand. Moreover, the decrease in the manufacturing cost of compound semiconductors has increased its application in electronic and mobile devices. The ability of compound semiconductors to emit and sense light in the form of general lighting (LEDs) and lasers and receivers for fiber optics is further driving the demand. The decrease in manufacturing and installation cost of LEDs has increased its application in lamps and fixtures across all sectors. Mega-cities concentrate on investing in infrastructure development to meet the needs of the growing population, and governments are helping customers to install energy-efficient lighting sources to reduce their electricity consumption costs. For instance, during the pandemic, EESL (Energy Efficiency Services Limited) celebrated the completion of its one-year governmental project called the Unnat Jyoti Program (UJALA). Under this program, it substituted more than 10.6 million street light bulbs with LED lights to reduce the carbon dioxide footprint by 20 million tons and the electricity cost. Such initiatives further boost the market studied. In 2020, the Taiwan Semiconductor Manufacturing Company (TSMC) sourced about 31% of spare parts locally in China, which increased to 31% in 2021. According to the US Department of Energy (DOE), LED lights to use about 75-80% less energy than traditional incandescent light bulbs and about 65% less energy than halogen bulbs. Commercial enterprises need lighting for an extended period, whether for long working hours, safety and security in a warehouse or manufacturing facility, or other uses. Thus, switching to LED lights can save millions of dollars annually. For example, US Energy Recovery clients can save about 20-55% on their electric utility bills by swapping out old lighting systems for state-of-the-art LED lighting. Therefore, the shift toward LED adoption is driving the growth of the market studied. The smartphone is the major consumer of compound semiconductors. The smartphone market has been very competitive in recent years. The increasing usage of mobile phones is further anticipated to drive the global market. For instance, according to the Ericsson Mobility Report, 2022, by the end of 2027, there will be 4.4 billion 5G subscriptions globally, accounting for 48% of all mobile subscriptions. The Internet of Things applications are increasing, which is expected to boost the sales of compound semiconductors. Moreover, the wireless communications sector is expected to grow with the growth in 5G networks. Fifth-generation networks also indicate the likelihood of consumers upgrading their mobile handsets or devices to drive global compound semiconductor adoption. The compound semiconductor industry is considered one of the most complex industries, not only due to more than 500 processing steps involved in the manufacturing and various products but also due to the harsh environment it faces, e.g., the volatile electronic market and the unpredictable demand. Key Market Trends Optoelectronics to Have a Significant Growth During the Forecast Period Optoelectronic products covered under the study scope include photodiodes, phototransistors, optical spectrum analyzers, solar panels, and other optoelectronic devices, excluding LED products. GaN-based transistors are discovering new ways, particularly in optoelectronics, compared to SiC-based, as they are faster and more efficient. GaN has 1,000 times the electron mobility of silicon, along with relatively stable operability at higher temperatures. ? Recent advancements in the field of optoelectronics, such as plasmonic nanostructures, perovskite transistors, optically active quantum dots, microscopic light bulbs, low-cost 3D imaging, laser-powered 3D display technology, and Laser Li-Fi, are expected to cause a quantum shift in the dynamic applicability areas of optoelectronic apparatus. In September 2021, the National Science Foundation (NSF) declared that it would support a new project that seeks to give atomic-level accurateness to the gadgets and technologies that underlie much of modern life and will revolutionize industries like information technology in the upcoming years. The Center for Integration of Modern Optoelectronic Materials on Demand or IMOD is a partnership of scientists and engineers from 11 universities headed by the University of Washington. These initiatives will further drive the studied market. In June 2022, a multiwavelength optoelectronic synapse that enables optical data detection, storage, and processing in the same device were created by researchers in the United States (University of Central Florida) and South Korea. The resultant in-sensor artificial visual system, which represents a major improvement in processing effectiveness and picture identification precision, might use robotics, self-driving cars, and machine vision in the future. Like the human eye, where the retina, through the synapse of the optic nerve, carries optical data, optoelectronic synapse allows optical data sensing, memory, and processing to be integrated into the same device. Further, in August 2022, Yokogawa launched two new optical spectrum analyzers (OSAs) to fulfill the market demand for an instrument capable of measuring a wide range of wavelengths to meet unique needs in optical product expansion and manufacturing. The Yokogawa AQ6375E and AQ6376E are the only grating-based OSAs covering SWIR (Short-Wavelength InfraRed) over 2 ?m and MWIR (Mid-Wavelength InfraRed) over 3 ?m, with the advanced optical performance. Middle East and Africa to Witness Significant Growth Prominent countries across the Middle East and Africa, such as Saudi Arabia, Egypt, and the United Arab Emirates, have some of the region’s largest renewable energy programs. Compound semiconductor devices play a significant role in controlling the generation and connection to the network of renewable energy sources. Moreover, the semiconductor industry is slowly gaining momentum in the Middle East and Africa, creating considerable market growth opportunities.? For instance, in March 2022, the King AbdulazizCity for Science and Technology (KACST) announced the launch of the Saudi Semiconductor Program, the first of its kind in the region, which is aimed at supporting the research, development, and qualification of professionals in the field of designing and localizing electronic chips.? Also, in April 2021, Kenya became the first country in Africa to launch a nanotechnology and semiconductor manufacturing factory. The facility in Nyeri County, central Kenya, was established by Semiconductor Technologies Limited (STL) on the 177-acre DedanKimathi University of Technology’s Science and Technology Park in a public-private partnership arrangement. The increasing initiatives taken to boost the overall semiconductor industry in these regions create a positive outlook for the growth of the studied market. Further, Dubai is expected to spend millions of Dirhams on incentives to have 42,000 EVs on its streets by 2030. General Motors expects to boost sales in Middle East & Africa with the launch of its Chevrolet EV. The number of EV Green Charger stations in Dubai may be doubled as part of the ’Smart Dubai’ initiative, which aims to make Dubai the smartest and happiest city in the world. The Dubai Electricity and Water Authority announced the completion of the second phase of its ‘Green Charger’ initiative, which included the installation of additional 100 EV Green Charger stations across Dubai. According to the Climate Reality Project, the world’s largest concentrated solar plant is due to be completed by the end of 2021 near Dubai, and it is expected to have a capacity of 1,000 MW. Dubai aims to produce 75% of its energy from clean sources by 2050, and its target energy mix for 2030 is 25% solar. These initiatives are driving the studied market in the region. Competitive Landscape The Compound Semiconductor Market is highly competitive and is dominated by several major players like Broadcom, Skyworks Solutions, Cree, Qorvo, Analog Devices, OSRAM, GaN Systems, Skyworks Solution, and Infineon Technologies. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies leverage strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets. June 2022 - ams OSRAM announced that Taiwan-based Ledtech had chosen OSLON UV 3636 UV-C LEDs for a sanitization function in its newBioLED intelligent air purifier. The BioLED’s OSLON UV 3636 LEDs can inactivate up to 99.99% of viruses, including SARS-CoV-2, at a dosing rate of 3.6mJ/cm2. June 2022 - Vitesco has signed an agreement with Infineon Technologies to supply silicon carbide power semiconductors. The new partnership with Infineon also includes the targeted development of SiC devices specifically for Vitesco’s e-mobility applications. May 2022 - Qorvo introduced a new generation of 1200V SiCFETs. The new UF4C/SC series of 1200V Gen 4 SiCFETs (from recently acquired UnitedSiC) are designed for 800V bus architectures in onboard chargers for electric vehicles, industrial battery chargers, industrial power supplies, DC/DC solar inverters, welding machines, uninterruptible power supplies, and induction heating applications. May 2022 - ON Semi announced that NIO Inc., a global automotive manufacturer, chose the company’s latest VE-Trac Direct SiC power modules for its next-generation electric vehicles. The silicon carbide (SiC)-based power modules enable longer range, higher efficiency, and faster acceleration for EVs. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06317787/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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