The compound semiconductor market is estimated to experience various growth opportunities in the upcoming years. The growth in the global market has been on the back of rising demand along with the implementation of GaN as well as SiC in the industry. There has also been a noticeable increase in the application of compound semiconductors in the LED that is likely to fuel the growth impetus in the global compound semiconductor market during the forecast period.
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The LEDs are commonly used in recent years as the replacement of various light sources, for instance, incandescent bulbs, CFLs, and fluorescent applications. In addition to this, LEDs have been penetrating at an increased pace for different applications, for example, automotive lighting, signage displays, and general lighting. Thus, with the growing use of these LEDs across various industry applications, the compound semiconductor market is predicted to encounter innumerable demand opportunities in the foreseeable years.
The materials of compound semiconductors have been comprised of LEDs. Group III, as well as group V materials from the periodic table, are used for the production of these semiconductors. Gallium arsenide (GaAs), gallium phosphide (Gap), and gallium nitride (GaN) are the materials from group III-V that have been applied in these semiconductors.
Growing Use of RF Power Estimated to Drive Growth Impetus in Compound Semiconductor Market
In the ongoing period, RF power is used at an increased rate in different applications, for example, defense, military, and aerospace. Thus, this rising application of the products from the compound semiconductor market is expected to create growth avenues in the following years. Along with this, RF power is also used at an increased rate in different devices in various fields, for instance, avionic as well as radar systems. This factor is also projected to create growth prospects in the compound semiconductor market in the foreseeable years. The expenditure for the entire industry procedures is comparatively costly and this factor is estimated to curtail the growth avenues in the compound semiconductor market.
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