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The Global Indium Phosphide Compound Semiconductor Market size is expected to reach $7.6 billion by 2027, rising at a market growth of 9.7% CAGR during the forecast period.
The binary semiconductor indium phosphide (InP) is made up of two elements: indium and phosphorus. GaAs and other III-V semiconductors are similar to this form of compound semiconductor. When compared to silicon (Si) and gallium arsenide (GaAs), it possesses a faster electron velocity, lower base sheet resistance, higher base electron diffusivity, and a direct band gap. The rise in demand for high-speed internet connectivity in a variety of telecom and datacom applications, significant growth in the use of indium Phosphide wafers in photonic and semiconductor applications, and emerging trends toward compound semiconductor wafers in the automotive industry are all driving the growth of the indium phosphide compound semiconductor market.
The outbreak of the COVID-19 pandemic has impacted various business domains. Due to the worldwide lockdown scenario, which has disrupted the complete supply chain of electrical components, production has come to a halt. This pandemic was declared a Public Health Emergency of International Concern on January 30, 2020. In addition, WHO named the new Coronavirus disease 2019 novel coronavirus (2019-nCoV). The COVID-19 crisis has resulted in a loss of corporate confidence, stock market instability, and a significant slowdown in supply chain activities.
The most important and critical application of indium phosphide (InP) compound semiconductor nowadays is in fibre optic communications. Because InP can emit and detect wavelengths over 1000 nm, high-speed fibre optic communication dominates the InP Wafer. InP wafers are used in high-power, high-frequency optoelectronic devices such as laser diodes, photodetectors, LEDs, and optical transceivers in optical fibre communication systems. Manufacturers are introducing advanced communication technologies by using InP semiconductor, which would fuel the growth of the market over the forecast period.
Essentially, automobiles are transforming into mobile computers. Heads-up displays, autonomous driving assistance, sensors, mobile phone and communication integration, and high-performance components are now included in their engines. This is made feasible by compound semiconductors, which are driving automotive improvement through innovation. Although these semiconductors used in automobiles account for a small percentage of total semiconductor production, they must meet stringent technical and quality standards. Application-specific system definitions and manufacturing consistency provide the foundation for a compound semiconductor's applicability in a motor vehicle application. The bar for quality is really high.
In the design of compound semiconductor devices, there is a significant level of design complexity. The main issue for designers is to increase efficiency while simplifying the structure. Furthermore, the variable needs of different applications add to the power and RF device's design complexity. Aside from their complicated architecture, the packaging of these devices has a significant impact on the functioning of the circuits and systems in which they will be put.
Based on End User, the market is segmented into Telecom & IT, Aerospace & Defense, Healthcare, Industrial, Energy & Power, Automotive, Consumer Electronics, Test & Measuring Instruments and Others. The aerospace and defense segment acquired a significant revenue share in the indium phosphide compound semiconductor market in 2020. It is owing to the factors like increasing government investment in defense and the rising requirement for better and advanced components across aerospace industry.
Based on Application, the market is segmented into Power Electronics, Sensing, Photonics, RF or Microwave and Quantum. The sensing segment procured a substantial revenue share. It is owing to the rising adoption of indium phosphide compound sensing by the manufacturers of various devices, which would accelerate the growth of the segment in the forecast period.
Based on Product, the market is segmented into Power Semiconductors, Diodes & Rectifiers, Integrated Circuits, Transistors and Others. Diodes and Rectifiers segment acquired a significant revenue share in indium phosphide compound semiconductor market in 2020. A rectifier is a diode that transforms alternating current (AC) to direct current (DC) (DC). This is a crucial procedure because alternating current might reverse direction on a regular basis, but direct current always flows in one direction, making it easy to govern.
|Market size value in 2020
|USD 4.2 Billion
|Market size forecast in 2027
|USD 7.6 Billion
|2017 to 2019
|2021 to 2027
|Revenue Growth Rate
|CAGR of 9.7% from 2021 to 2027
|Number of Pages
|Number of Tables
|Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling
|Product, Application, End User, Region
|US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The growing demand for compound semiconductor devices in numerous verticals, including telecommunication, automotive and military, and aerospace and defence, in Asian countries such as China, Japan, Taiwan, the Philippines, and India, presents enormous opportunities for the compound semiconductor device in APAC.
Free Valuable Insights: Global Indium Phosphide Compound Semiconductor Market size to reach USD 7.6 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., II-VI Incorporated, AXT, Inc., Semiconductor Wafer, Inc., Wafer World, Inc., IQE plc, MACOM Technology Solutions Holdings, Inc., and Xiamen Powerway Advanced Material Co., Ltd.
By End User
The indium phosphide compound semiconductor market size is projected to reach USD 7.6 billion by 2027.
Rise in the usage of compound semiconductors across automotive industry are driving the market in coming years, however, complicated design of the semiconductors have limited the growth of the market.
Sumitomo Electric Industries, Ltd., II-VI Incorporated, AXT, Inc., Semiconductor Wafer, Inc., Wafer World, Inc., IQE plc, MACOM Technology Solutions Holdings, Inc., and Xiamen Powerway Advanced Material Co., Ltd.
The Telecom & IT market is leading the Global Indium Phosphide Compound Semiconductor Market by End User 2020, and would continue to be a dominant market till 2027.
The Power Semiconductors market acquired maximum revenue share in the Global Indium Phosphide Compound Semiconductor Market by Product 2020, and would continue to be a dominant market till 2027.
The Asia Pacific market is the leading region in the Global Indium Phosphide Compound Semiconductor Market by Region 2020, and would continue to be a dominant market till 2027.
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