Compound Semiconductor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Compound Semiconductor Market is expected to register at a CAGR of 11% over the forecast period. The COVID-19 pandemic halted the manufacturing of several products in the compound semiconductor production industry owing to continued lockdown in critical global regions. In addition, country-wise lockdowns inflicted by governments across the globe further resulted in sectors taking a hit and disrupting supply chains and manufacturing operations worldwide. Most manufacturing operations, including the factory floor work, were significantly affected, resulting in decreased productivity.
Key HighlightsThe Compound Semiconductor Market is highly competitive and is dominated by several major players like Broadcom, Skyworks Solutions, Cree, Qorvo, Analog Devices, OSRAM, GaN Systems, Skyworks Solution, and Infineon Technologies. These major players with a prominent share of the market are focusing on expanding their customer base across foreign countries. These companies leverage strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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