The Compound Semiconductor Market size is estimated at USD 32.59 billion in 2024, and is expected to reach USD 54.69 billion by 2029, growing at a CAGR of 10.91% during the forecast period (2024-2029).
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.
The 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 prominent players with a significant market share focus on extending their customer base across foreign nations. These companies leverage strategic cooperative initiatives to increase their market share and profitability. However, with technological advancements and product innovations, mid-size to smaller companies are growing their market by securing unique contracts and tapping new markets.
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