The Indium Phosphide Compound Semiconductor Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Indium Phosphide Compound Semiconductor Global Market Report 2024, The indium phosphide compound semiconductor market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to telecommunications infrastructure growth, demand in defense and aerospace, fiber optic network deployments, satellite communication systems, rise in high-speed data transmission.
The indium phosphide compound semiconductor market size is expected to see rapid growth in the next few years. It will grow to $9.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to emergence of quantum computing, growing demand in healthcare imaging, optical sensing and lidar applications, space exploration and satellite technology, data center expansion. Major trends in the forecast period include focus on monolithic microwave integrated circuits (mmics), emergence in power electronics, innovations in quantum dot lasers, development of high-speed transistors, increasing focus on environmentally friendly manufacturing.
The rising demand in the aerospace and defense industries is expected to propel the growth of the indium phosphide compound semiconductor market going forward. The aerospace and defense industries refer to the sectors involved in the design, development, production, and maintenance of aircraft, spacecraft, and defense systems. These industries are comprised of companies that manufacture and supply products and services to the military, government agencies, and commercial customers. In the aerospace and defense industries, indium phosphide wafers are used in optoelectronic devices such as laser diodes, photodetectors, LEDs, and optical transceivers in optical fiber communication systems. For instance, in November 2022, according to the Aerospace Industries Association (AIA), a US-based trade association, the aerospace and defense industry’s exports increased by 11.2% to a total value of $100.4 billion between 2020 and 2021. Therefore, the rising demand in the aerospace and defense industries is driving the growth of the indium phosphide compound semiconductor market.
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The indium phosphide compound semiconductor market covered in this report is segmented –
1) Indium Phosphide Compound Semiconductor Market By Product: Power Semiconductors, Transistors, Integrated Circuits, Diodes And Rectifiers, Other Products
2) Indium Phosphide Compound Semiconductor Market By Application: Power Electronics, Sensing, Photonics, Rf (Radio Frequency) And Microwave, Quantum
3) Indium Phosphide Compound Semiconductor Market By End-User: IT And Telecom, Industrial And Energy And Power, Aerospace And Defense, Automotive, Consumer Electronics, Healthcare, Test And Measuring Instruments, Other End-Users
Top Major Players
AXT Inc.
Sumitomo Electric Industries Ltd.
II-VI Incorporated
Wafer World Inc.
IQE PLC
Technological advancements are a key trend gaining popularity in the indium phosphide compound semiconductor market. Companies operating in the indium phosphide compound semiconductor market are adopting new technologies to sustain their position in the market. For instance, in May 2023, Infinera, a US-based optical networking solutions company, completed the industry’s first testing of point-to-multipoint coherent pluggable transceiver technology in Japan in collaboration with Sumitomo Electric. The testing showed the role of XR optics technology in helping network operators in Japan cost-effectively keep pace with 5G bandwidth growth. Indium phosphide offers several advantages in XR optics technology as it can handle high frequencies and high power, making it ideal for high-speed transmission.
The indium phosphide compound semiconductor market report table of contents includes:
1. Executive Summary
2. Indium Phosphide Compound Semiconductor Market Characteristics
3. Indium Phosphide Compound Semiconductor Market Trends And Strategies
4. Indium Phosphide Compound Semiconductor Market – Macro Economic Scenario
5. Global Indium Phosphide Compound Semiconductor Market Size and Growth
….
31. Global Indium Phosphide Compound Semiconductor Market Competitive Benchmarking
32. Global Indium Phosphide Compound Semiconductor Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Indium Phosphide Compound Semiconductor Market
34. Indium Phosphide Compound Semiconductor Market Future Outlook and Potential Analysis
35. Appendix
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