WiseGuyReports.com adds “Compound Semiconductor Market 2017 Global Analysis, Growth, Opportunities Research Report Forecasting to 2022”reports to its database.
Compound Semiconductor Market is expected to grow at a CAGR of 11.24% to reach US$68.915 billion by 2022, increasing from US$40.452 billion in 2017. The compound semiconductor is formed by combining two or more elements of the different or same group of the periodic table. Factors like high-temperature resistance due to the high band gap, faster operation and optoelectronic properties due to direct band gap are some of the key advantages augmenting the demand of compound semiconductors over the forecast period. Compound semiconductor market will be driven by next-generation 5G technologies which would require greater speed and minimum latency.
By End-User Industry
By end-user industry segment, consumer electronics accounted for the major market share in 2016 and is expected to grow at a decent CAGR. This growth is largely driven by the introduction of smartphones powered by GaAs-based solar cells coupled wit an increase in the number of smartphones and other smart devices in the market. Moreover, increasing adoption of LEDs in consumer electronics segment is further expected to boost this segment’s growth.
Geographically, Asia Pacific region is expected to grow at a high rate owing to rapid industrialization and urbanization, especially in emerging economies like India, China, and South Korea. The growing demand for power applications coupled with developing wireless infrastructure is expected to boost the compound semiconductor market growth over the forecast period. North America is expected to grow at a moderate rate, with high demand originating from the United States.