The global compound semiconductor market size is expected to reach USD 73.71 billion by 2032, according to a new study by Polaris Market Research. The report “Compound Semiconductor Market Share, Size, Trends, Industry Analysis Report, By Product (LED, Optoelectronics, RF Devices, Power Electronics, Diode, Bare Die, Module, and Others); By Application; By Type; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing use of RF power across various military and aerospace applications and the continuously growing proliferation of INP and GAAS for the development of more advanced and newer products are resulting in higher adoption of compound semiconductors in the sector, thereby fueling the global market growth. In addition, the rapid increase in the number of data transactions and growing rate of industrialization especially in emerging economies like India, Africa, and China along with the high focus on designing application-specific products at lower prices by key companies are also expected to boost the market demand and growth.
For instance, in June 2022, Analog Devices unveiled its new 800MHz-12.8GHz synthesizer for high-performance data converter & synchronization applications. It allows the excellent signal to noise by providing an ultra-clean clock source and further enables next-generation transmitters and receivers to utilize their best dynamic range.
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In recent years, there has been a shift in technology from 3G to 4G and now 5G connectivity that has significantly escalated the network traffic through smartphones and fueled network interferences across several communication channels. Higher adoption and usage of compound semiconductors are scaling up wireless communication by giving higher efficiency and speed as compared to silicon-based semiconductors.
Compound Semiconductor Market Report Highlights
Polaris Market Research has segmented the compound semiconductor market report based on product, application, type, and region:
Compound Semiconductor, Product Outlook (Revenue - USD Billion, 2019 - 2032)
Compound Semiconductor, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Compound Semiconductor, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Compound Semiconductor, Regional Outlook (Revenue - USD Billion, 2019 - 2032)