[Market Report] Global Market for Compound Semiconductors
Report ID: AA0723551
Promoting innovation, the global market for compound semiconductors is expected to reach 243.5 billion USD by 2031, driven by a CAGR of 11.6%.
The global compound semiconductor market is emerging as a stronghold of innovation and technological advancement, aiming to redefine industries across various fields. Sales in 2022 were approximately \$90.7 billion, and it is projected to reach \$243.5 billion by 2031. This remarkable trajectory reflects a significant compound annual growth rate (CAGR) of 11.6% during the forecast period from 2023 to 2031. The global market for compound semiconductors is at the forefront of driving technological evolution across diverse sectors. These semiconductors, composed of two or more elements from different groups of the periodic table, are reshaping industries by enabling cutting-edge applications in electronics, telecommunications, energy, and automotive sectors. The versatility and efficiency of compound semiconductors are essential elements in pushing the boundaries of innovation. For application methods, please check the [PDF download] button or apply directly through the related links.
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Insights on Segmentation: Application Insights The information and communication technology segment dominated the market in terms of revenue during the forecast period. This is attributed to the increasing demand for semiconductor components in wireless and mobile communications. The speed and high efficiency offered by compound semiconductors compared to silicon semiconductors are key factors driving their application in cutting-edge communication technologies. Furthermore, the integration of several emerging technologies such as artificial intelligence, the Internet of Things, and machine learning has heightened the need for high-speed semiconductor devices, which is propelling growth in this sector. Key Companies: Texas Instruments Inc Renesas Electronics Corporation Infineon Technologies AG STMicroelectronics Taiwan Semiconductor Manufacturing Company Limited Samsung Electronics Co Ltd Qorvo NICHIA CORPORATION Wolfspeed NXP Semiconductors
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