Allied Market Research recently published a report, titled, “Indium Phosphide Compound Semiconductor Market by Product (Power Semiconductors, Transistors, Integrated Circuits, Diodes & Rectifiers, and Others), Application (Power Electronics, RF or Microwave, Photonics, Sensing, and Quantum), and End User (IT & Telecom, Industrial and Energy & Power, Aerospace & Defense, Automotive, Consumer Electronics, Healthcare, Test & Measuring Instruments, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030″. As per the report, the global indium phosphide compound semiconductor industry was pegged at $4.5 billion in 2020, and is expected to reach $13.4 billion by 2030, growing at a CAGR of 11.9% from 2021 to 2030.
Drivers, restraints, and opportunities
Increase in the need for high-speed internet connectivity in telecom and datacom application, benefits of indium phosphide compound semiconductor, and emerging trend toward compound semiconductor wafers in the automotive industry have boosted the growth of the global indium phosphide compound semiconductor market. However, high-cost and disadvantages associated with compound semiconductor materials and components hinder the market growth. On the contrary, advent of compound semiconductors in smart technologies is expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic led to falling business confidence, uncertainty in the stocks, and immense slowing of the supply chain operation. Moreover, it affected the production processes of semiconductor and electronics industry.
- The restrictions on international trade put constraints on the demand and supply outlook. In addition, the prolonged lockdown negatively affected the market.
The power semiconductors segment held the lion’s share
By product, the power semiconductors segment held the largest share in 2020, accounting for more than one-fourth of the global indium phosphide compound semiconductor market, due to rise in demand for efficient energy management in high-voltage power electronics such as solar inverters and hybrid vehicles. However, the transistors segment is expected to register the highest CAGR of 14.4% during the forecast period, owing to their advantages over transitional transistors that make them suitable for commercial applications.
The sensing segment to manifest the highest CAGR through 2030
By application, the sensing segment would showcase the highest CAGR of 15.0% from 2021 to 2030. However, the power electronics segment held the largest share in 2020, contributing to nearly one-third of the global indium phosphide compound semiconductor market, as indium phosphide compound semiconductor enhanced electron velocity.
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Asia-Pacific, followed by Europe and North America, held the largest share
By region, the market across Asia-Pacific, followed by Europe and North America, held the largest share in 2020, accounting for nearly half of the market. Moreover, the region is expected to manifest the highest CAGR of 13.7% during the forecast period. On the other hand, the global indium phosphide compound semiconductor market across North America is expected to register a CAGR of 8.7% during the forecast period.
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Major market players
- Sumitomo Electric Industries, Ltd.
- AXT Inc.
- II-VI Incorporated
- Wafer World Inc.
- Semiconductor Wafer, Inc. (SWI)
- MACOM Technology Solutions
- IQE
- IntelliEPI
- Logitech Ltd.
- Xiamen Powerway Advanced Material Co., Ltd.
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