The compound semiconductor market will rise at a CAGR of 11.24% from $40.452bn in 2017 to $68.915bn by 2022, driven by next-generation 5G technologies requiring greater speed and minimum latency, according to a report from Knowledge Sourcing Intelligence.
The consumer electronics segment accounted for the most market share in 2016 and is expected to grow at a decent CAGR, driven largely by the introduction of smartphones powered by gallium arsenide (GaAs)-based solar cells coupled with an increase in the number of smartphones and other smart devices on the market. Moreover, increasing adoption of LEDs in consumer electronics is expected to boost growth further.
Geographically, the Asia Pacific region is expected to grow rapidly due to industrialization and urbanization, especially in emerging economies such as India, China and South Korea. Growing demand for power applications, coupled with developing wireless infrastructure, is expected to boost compound semiconductor market growth. North America is expected to grow moderately, with high demand originating from the USA.
Major players cited in the report include Cree, IQE, Skyworks Solution, Qorvo, Broadcom, NXP Semiconductors, Taiwan Semiconductor Manufacturing Company (TSMC), Ericsson, and Analog Devices.