Indium Phosphide Compound Semiconductor Market Expected to Reach $13.40 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Indium phosphide compound semiconductor Market by Product, Application, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030”, The global indium phosphide compound semiconductor market size was valued at $4.5 Billion in 2020, and is projected to reach $13.40 Billion by 2030, registering a CAGR of 11.90%. Asia-Pacific is expected to be the leading contributor to the global Indium phosphide compound semiconductor industry during the forecast period, followed by North America and Europe.

A compound semiconductor is a semiconductor composed of elements from two or more different groups of the periodic table, and is synthesized using deposition technologies. Indium phosphide (InP) is a binary semiconductor which is composed of indium and phosphorus. This type of compound semiconductor is identical to GaAs and other III-V semiconductors. It offers superior electron velocity compare to silicon (Si) and gallium arsenide (GaAs); lower base sheet resistance; higher base electron diffusivity; and has direct band gap. An in-depth analysis of the indium phosphide compound semiconductor market and their revenue across North America, Europe, Asia-Pacific, and LAMEA has also been included in the report.

The indium phosphide compound semiconductor market analysis is segmented on the basis of product, application, end user, and region. According to the product, the market is segmented into power semiconductors, transistors, integrated circuits, diodes & rectifiers, and others. By application, the market is divided into power electronics, RF or microwave, photonics, sensing, and quantum. The end user type segment is further categorized into IT & telecom, industrial and energy & power, aerospace & defense, automotive, consumer electronics, healthcare, test & measuring instruments, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Region wise, the Indium phosphide compound semiconductor market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America indium phosphide compound semiconductor market is experiencing a significant growth rate. In addition, this region is expected to hold a dominant position in the compound semiconductor market, owing to the availability of advanced technology in the region along with presence of major players operating in the market. The region has major players offering advanced solutions, which is expected to propel the Indium Phosphide Compound Semiconductor market growth.

Covid-19 Impact Analysis

The emergence of coronavirus has become a disastrous issue worldwide. There is a halt in production process, owing to the global lockdown scenario causing disruption in the overall supply chain of electronic components. COVID-19 outbreak has also caused lag in meeting requirements of end users as the epicenter of virus outbreak Wuhan, China accounts for the largest manufacturing items of electronic components. On January 30, 2020, the outbreak of this disease on a global scale was acknowledged as a Public Health Emergency of International Concern. On February 11, 2020, WHO announced the name for the new Coronavirus disease as 2019 novel coronavirus (2019-nCoV) and the disease as 2019 Coronavirus disease (COVID-19) caused due to Coronavirus SARS-Cov-2.

Key Findings of The Study

• The power semiconductors segment is projected to be dominate type segment during the forecast period followed by diodes and rectifiers.
• Asia-Pacific and North America collectively accounted for about 73.65% of the Indium phosphide compound semiconductor market share in 2020.
• Sensing segment is anticipated to witness highest growth rate during the forecast period.
• China was the major shareholder in the Asia-Pacific Indium phosphide compound semiconductor market, accounting for approximately 29.81% share in 2020.

The key players profiled in the report include Sumitomo Electric Industries, Ltd., II-VI Incorporated, AXT Inc., Semiconductor Wafer, Inc. ( SWI ), Wafer World Inc., IQE, MACOM Technology Solutions, Logitech Ltd., IntelliEPI, and Xiamen Powerway Advanced Material Co., Ltd. These players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the industry.