The Asia Pacific Indium Phosphide Compound Semiconductor Market would witness market growth of 9.8% CAGR during the forecast period (2021-2027).
Incandescent bulbs, fluorescent bulbs, and compact fluorescent lights (CFLs) are all being replaced by LEDs. LEDs are becoming more widely used in a variety of applications, including general lighting, vehicle lighting, and signs displays. Compound semiconductor materials, which are made up of elements from groups III and V of the periodic table, are used in LEDs (these are known as III-V materials). Gallium nitride (GaN), gallium arsenide (GaAs), and gallium phosphide are all III-V materials that are routinely utilised to create LEDs (GaP).
The adoption of computers and machines for the effective and efficient control of systems has increased as industrial automation has increased across this region. Compound semiconductor devices, which can endure high temperatures and voltages, play a significant role in guaranteeing efficient power usage within a smaller application. This makes them an ideal component. For example, EESL (Energy Efficiency Services Limited) celebrated the end of its one-year federal project, Unnat Jyoti Program, in 2020. (UJALA). This programme has resulted in the replacement of more than 10.6 million street light bulbs with LED lights, resulting in the reduction of 20 million tonnes of CO2 and a significant reduction in electricity costs.
The China market dominated the Asia Pacific Indium Phosphide Compound Semiconductor Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $822.8 million by 2027. The Japan market is exhibiting a CAGR of 9.2% during (2021 - 2027). Additionally, The India market would witness a CAGR of 10.5% during (2021 - 2027).
Based on End User, the market is segmented into Telecom & IT, Aerospace & Defense, Healthcare, Industrial, Energy & Power, Automotive, Consumer Electronics, Test & Measuring Instruments and Others. Based on Application, the market is segmented into Power Electronics, Sensing, Photonics, RF or Microwave and Quantum. Based on Product, the market is segmented into Power Semiconductors, Diodes & Rectifiers, Integrated Circuits, Transistors and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Indium Phosphide Compound Semiconductor Market is Projected to reach USD 7.6 Billion by 2027, at a CAGR of 9.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., II-VI Incorporated, AXT, Inc., Semiconductor Wafer, Inc., Wafer World, Inc., IQE plc, MACOM Technology Solutions Holdings, Inc., and Xiamen Powerway Advanced Material Co., Ltd.
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