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Compound Semiconductor Market Size

Report ID: GMI12298
Published Date: Nov 2024
Report Format: PDF

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Compound Semiconductor Market Size

The global compound semiconductor market was valued at USD 44.5 billion in 2023 and is anticipated to grow at a CAGR of 10.9% between 2024 and 2032.

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The compound semiconductor industry is growing due to the unique properties of these materials, which support high-frequency, high-power, and efficient operation across advanced applications. As demand rises in telecommunications (especially for 5G and satellite communications), electric vehicles, and renewable energy, compound semiconductors outperform silicon with better power efficiency, heat resistance, and compactness. They’re also ideal for rugged environments like aerospace and defense, where reliability under extreme conditions is crucial. Increased R&D investment further supports these materials' adoption in emerging technologies, driving their growth across multiple high-tech industries.

Compound Semiconductor Market Report Attributes
Report Attribute	Details
Base Year:	2023
Compound Semiconductor Market Size in 2023:	USD 44.5 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	10.9%
2032 Value Projection:	USD 111.6 Billion
Historical Data for:	2021 - 2023
No. of Pages:	200
Tables, Charts & Figures:	353
Segments covered:	By Deposition Technologies, Type, Product, Application
Growth Drivers:	Electric Vehicles and Renewable Energy Miniaturization and Compact Design Requirements Rapid development of 5G networks Demand for High-Efficiency Radar Solutions Growing Photonics and Optoelectronics Demand
Pitfalls & Challenges:	High Production Costs Material Availability and Supply Chain Risks

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For instance, In August 2022, Qorvo, Inc announced the release of the highest gain 100-watt L-band (1.2–1.4 GHz) compact solution: a GaN-on-SiC PAM aimed for commercial and defense radar applications. The QPA2511 GaN-on-SiC PAM provides an integrated two-stage amplifier solution with 60% power-added efficiency in a circuit footprint 70% lower than analogous two-stage solutions. This exceptional performance cuts total system power usage dramatically. Their resilience in harsh environments makes them suitable for aerospace and defense. Additionally, advancements in photonics and optoelectronics are unlocking further applications, accelerating market expansion.

Authors: Suraj Gujar, Saptadeep Das

Frequently Asked Questions (FAQ) :

The global market size for compound semiconductor was valued at USD 44.5 billion in 2023 and is anticipated to reach USD 111.6 billion by 2032, driven by a CAGR of 10.9% from 2024 to 2032.

The circuit protection segment is the fastest-growing, with an expected CAGR of 12.6% between 2024 and 2032, driven by increasing demand for high-efficiency radar solutions and 5G networks.

The GaN segment is projected to reach a value of USD 25 billion by 2032, driven by its superior performance in high-power applications and high-efficiency systems.

Major players in the industry include Wolfspeed, Inc., Infineon Technologies AG, Qorvo, Inc., Skyworks Solutions, Inc., STMicroelectronics N.V., and Samsung Electronics Co., Ltd.