According to the recent study the IV-IV compound semiconductor market is projected to reach an estimated $29.4 billion by 2028 from $21 billion in 2023, at a CAGR of 7.0% from 2023 to 2028. Growth in this market is primarily driven by increase in initiatives by governments in funding the semiconductor industry, along with growing demand for SiC semiconductors and higher usage of these compounds in the LED applications globally.

A more than 150-page report is developed to Understand trends, opportunities and forecast in IV-IV compound semiconductor market by material type (SiC, SiGe, and others), end use industry (healthcare, automotive, aerospace & defense, telecommunication, and consumer electronics), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“SiC market is expected to remain the largest segment during the forecast period.”

Based on type, the IV-IV compound semiconductor market is segmented into SiC, SiGe, and others. Lucintel forecasts that the SiC market is expected to remain the largest segment due to growing demand for optoelectronic devices that are utilized for detecting and controlling light.

“Within the IV-IV compound semiconductor market, the telecommunication segment is expected to remain the largest end use industry”

Based on end use industry the telecommunication segment is expected to witness the highest growth over the forecast period due to an increase in demand of GaAs substrates from wireless and mobile communication application on account of its high speed and efficiency.

“Asia pacific will dominate the IV-IV compound semiconductor market in near future”

APAC is expected to witness the highest growth during the forecast period due to increasing adoption of semiconductors in various industries, such as automotive, healthcare, telecommunication, and consumer electronics.

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Major players of IV-IV compound semiconductor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Nichia, Samsung Electronic, Osram, Qorvo, Skyworks, ON Semiconductor, GAN Systems, Mitsubishi Electric, Infineon, and NXP are among the major IV-IV compound semiconductor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/iv-iv-compound-semiconductor-market.aspx or [email protected]