Compound Semiconductor Industry Forecast to Reach $55.8 Billion by 2027
The Compound Semiconductor Market size is projected to reach USD 55.8 billion by 2027 at a CAGR of 6.6% during the forecast period. increasing use of GaN in general lighting, signage, and automotive applications to drive the GaN segment GaN is used in various applications, such as power drives, radio frequency, lighting and lasers, and supplies and inverters, which can be adopted in different verticals, including automotive, telecommunications, consumer display and devices, military, defense, and aerospace, and datacom. One of the other major driving factors for the GaN material is the massive demand from the RF semiconductor device industry. The RF industry started its quest for alternate semiconductor materials. Owing to its ability to deliver high power amplification at high-frequency ranges, GaN semiconductor devices penetrated the RF power semiconductor device industry, bolstering its growth. Compound semiconductors, formed by combining two or more elements from the periodic ta