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Compound Semiconductor Market Size 2023, Business Growth, Analysis and Forecast to 2028

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Compound Semiconductor Market Size 2023, Business Growth, Analysis and Forecast to 2028

March 02
20:00 2023
Compound Semiconductor Market Size 2023, Business Growth, Analysis and Forecast to 2028
Compound Semiconductor Industry 2023-2028
The global compound semiconductor market size reached US$ 112.2 Billion in 2022. By 2028, it will reach a value of US$ 150.4 Billion Billion, growing at a CAGR of 4.9% (2023-2028).

IMARC Group latest research study “Compound Semiconductor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global compound semiconductor market size reached US$ 112.2 Billion in 2022. Looking forward, the market is expected to reach US$ 150.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

Compound semiconductors are produced from two or more chemical elements belonging to different groups in the periodic table. Some common elements used to make compound semiconductors include silicon-germanium (SiGe), zinc selenide (ZnSe), gallium arsenide (GaAs), zinc sulfide (ZnS), silicon carbide (SiC), indium phosphide (InP), indium antimonide (InSb), gallium phosphide (GAP), and gallium nitride (GaN). It can generate microwave signals and enhance frequency, quick operation, high electron mobility and bandgap, temperature resistance, and better current and voltage holding capacity. As a result, compound semiconductors are extensively utilized in automotive, telecommunications, electronics, information and technology (IT), defense, healthcare, aerospace, and industrial sectors.

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Compound Semiconductor Market Trends and Drivers:

The market is primarily driven by the rising demand for compound semiconductors in high-frequency optical devices and information displays. In addition, the increasing use of electronic wafers, film coatings, and integrated circuits (IC) is contributing to the market growth. Moreover, the widespread adoption of light-emitting diode (LED) in the automotive sector for lighting and signage displays is providing a positive thrust to the market growth.

Besides this, the increasing utilization of artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT)  to manufacture compound semiconductors represents another major growth-inducing factor. The market is propelled by the growing product applications in the healthcare sector for diagnosis and imaging equipment, biomedical electronics, and implantable medical devices.

Furthermore, numerous government initiatives to encourage the installation of energy-efficient lighting sources, extensive research and development (R&D) activities, mergers and acquisitions (M&A), and strategic collaborations among key players are creating a favorable market outlook across the globe.

Compound Semiconductor Market Report Scope

Report Coverage


Market size value in 2022

US$ 112.2 Billion

Market forecast in 2028

US$ 150.4 Billion

Growth Rate

CAGR of 4.9% from 2023 to 2028

Base year for estimation


Historical data


Forecast period


Global Compound Semiconductor Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Compound Semiconductor Companies:

Infineon Technologies AG (OTCMKTS: IFNNY)

Microchip Technology Inc. (NASDAQ: MCHP)

Mitsubishi Electric Corporation (OTCMKTS: MIELY)

NXP Semiconductors N.V. (NASDAQ: NXPI)


Qorvo Inc.

Renesas Electronics Corporation


Texas Instruments Incorporated

WIN Semiconductors Corp.

Wolfspeed Inc.

The report has segmented the market on the basis of region, type, product, deposition technology and application.

Breakup by Type:

  • III-V Compound Semiconductor
    • Gallium Nitride
    • Gallium Phosphide
    • Gallium Arsenide
    • Indium Phosphide
    • Indium Antimonide
  • II-VI Compound Semiconductor
    • Cadmium Selenide
    • Cadmium Telluride
    • Zinc Selenide
  • Sapphire
  • IV-IV Compound Semiconductor
  • Others

Breakup by Product:

  • Power Semiconductor
  • Transistor
  • Integrated Circuits
  • Diodes and Rectifiers
  • Others

Breakup by Deposition Technology:

  • Chemical Vapor Deposition
  • Molecular Beam Epitaxy
  • Hydride Vapor Phase Epitaxy
  • Ammonothermal
  • Atomic Layer Deposition
  • Others

Breakup by Application:

  • IT and Telecom
  • Aerospace and Defense
  • Automotive
  • Consumer Electronics
  • Healthcare
  • Industrial and Energy and Power

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure:

If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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