The market across Asia-Pacific, followed by Europe and North America, held the largest share in 2020, accounting for nearly half of the market. Moreover, the region is expected to manifest the highest CAGR of 13.7 per cent during the forecast period
The global indium phosphide compound semiconductor industry was pegged at $4.5 billion in 2020, and is expected to reach $13.4 billion by 2030, growing at a CAGR of 11.9 per cent from 2021 to 2030. Increase in the need for high-speed internet connectivity in telecom and datacom application, benefits of indium phosphide compound semiconductor, and emerging trend toward compound semiconductor wafers in the automotive industry have boosted the growth of the global indium phosphide compound semiconductor market.
However, high-cost and disadvantages associated with compound semiconductor materials and components hinder the market growth. On the contrary, advent of compound semiconductors in smart technologies is expected to open new opportunities for the market players in the future.
The market across Asia-Pacific, followed by Europe and North America, held the largest share in 2020, accounting for nearly half of the market. Moreover, the region is expected to manifest the highest CAGR of 13.7 per cent during the forecast period. On the other hand, the global indium phosphide compound semiconductor market across North America is expected to register a CAGR of 8.7 per cent during the forecast period.
By product, the power semiconductors segment held the largest share in 2020, accounting for more than one-fourth of the global indium phosphide compound semiconductor market, due to rise in demand for efficient energy management in high-voltage power electronics such as solar inverters and hybrid vehicles. However, the transistors segment is expected to register the highest CAGR of 14.4 per cent during the forecast period, owing to their advantages over transitional transistors that make them suitable for commercial applications.
The sensing segment would showcase the highest CAGR of 15.0% from 2021 to 2030. However, the power electronics segment held the largest share in 2020, contributing to nearly one-third of the global indium phosphide compound semiconductor market, as indium phosphide compound semiconductor enhanced electron velocity.
