The North America Indium Phosphide Compound Semiconductor Market would witness market growth of 9.5% CAGR during the forecast period (2021-2027).
A compound semiconductor is made up of elements from two or more different periodic table groups and is made using deposition techniques. Compound semiconductors' capacity to emit and perceive light in the form of general illumination (LEDs) and fiber-optic lasers and receivers is fuelling the demand. LEDs have become more widely used in lights and fixtures as the cost of production and installation has decreased. Megacities focus on infrastructure development to fulfill the requirements of a growing population, and governments assist consumers in installing energy-efficient lighting to lower their electricity consumption expenses.
The semiconductor sector in this region is expected to be impacted by the current COVID-19 pandemic. Due to a shortage of parts, the entire supply chain has been affected. Several regional manufacturers are using indium phosphide compound semiconductor in their products. This compound is used to make diodes that are employed in optoelectronic circuits like LED components, laser diodes, and photo detectors, among other things. These diodes can be easily produced tiny enough to fit on IC chips for integration with other components essential for the device's functioning because they have a low dark current and a high sensitivity of roughly 80%. Due to this rise in applications, the demand and growth of the regional market would witness a spike in the coming years.
The US market dominated the North America Indium Phosphide Compound Semiconductor Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,576 million by 2027. The Canada market is estimated to grow at a CAGR of 12% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 11% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Indium Phosphide Compound Semiconductor Market is Estimated to reach $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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