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The indium phosphide (InP) wafers market is projected to grow by USD 106.9 million with a CAGR of 13.57% during the forecast period 2021 to 2026.
The research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by application (telecommunication, healthcare, pharmaceuticals, military and defense, and others), type (100 mm or 4 inches and above, 76.2 mm or 3 inches, and 50.8 mm or 2 inches), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The market report also offers information on several market vendors, including Advanced Engineering Materials Ltd., American Elements, AXT Inc., Broadcom Inc., DingTen Industrial Inc., Engis Corp., Gelest Inc., InPACT, IQE Plc, JX Nippon Mining & Metals Corp., Logitech Ltd., NANOGRAFI Co. Inc., Reade International Corp., Semiconductor Wafer Inc., Stanford Advanced Materials, Sumitomo Electric Industries Ltd., Vital Materials Co. Ltd., Wafer World Inc., Western Minmetals SC Corp., and Xiamen Powerway Advanced Material Co. Ltd. among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the market.
Key INP Wafers Market Driver
The rising adoption of smartphones and tablets is one of the key drivers supporting the market's growth. Shipments of smartphones reached over 1.37 billion units in 2021 due to the availability of low-cost smartphones in emerging markets such as China and India and increasing Internet penetration worldwide. The growth in the shipments of smartphones will drive the demand for the indium phosphide (InP) wafers used in mobile handsets. Smartphones currently require more InP wafers, as they need many frequency bands to accommodate 3G and 4G networks. Moreover, the increasing demand for tablets is also contributing to market growth. There are many local market participants that have started introducing tablets in their respective countries, such as Micromax in India and Xiaomi in China, and the number of such vendors is expected to increase during the forecast period.
Key INP Wafers Market Trend
An increase in the number of fabless semiconductor companies and M&A activities are one of the key market trends contributing to market growth. The majority of semiconductor companies are focusing more on the design and development of innovative solutions. Hence, they outsource their fabrication and other foundry-related activities to companies that provide such foundry solutions. Therefore, the ratio of fabless companies to foundries is 1:11 in the global semiconductor market. Furthermore, due to high costs, companies merge with or acquire other companies to increase their production capabilities and market shares. This, in turn, is driving consolidation in the semiconductor industry and increasing the bargaining power of customers, which could lead to higher price negotiations, negatively affecting the profit margins of the vendors.
Key INP Wafers Market Challenge
The cyclical nature of the semiconductor industry is one of the factors hampering market growth. The global market is highly dependent on the growth in sales of semiconductor ICs, which, in turn, depends on the sales of electronic devices. The rise and fall in demand for electronic products make forecasting the semiconductor market difficult, leading to an oversupply or undersupply of semiconductor ICs. In the case of oversupply, fabs can fulfil the demand for semiconductor ICs without expanding their manufacturing capacities. This reduces their capital spending. As a result, vendors have to ensure that they meet the varying demands as per their production capacities and maintain the demand-supply equation.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global indium phosphide (InP) wafers market as a part of the global semiconductor equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our In-house experts produce extensive information on the value chain and parent market of the indium phosphide (InP) wafers market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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41% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for indium phosphide (InP) wafers in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The high demand for InP wafers from communication device manufacturers will facilitate the market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The regional market witnessed certain challenges in 2020, owing to the COVID-19 outbreak. However, as the vaccination drives started taking place, travel restrictions were eased, and the manufacturing units of end-user industries began to operate at full capacity with the containment of the disease. Thus, the regional market is expected to witness growth during the forecast period.
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The market share growth in the telecommunication segment will be significant during the forecast period. The growth of mobile data and the IoT is propelling the need for Wi-Fi and related products. The installation of these products is essential to ensure seamless telecommunication between smart devices. Mobile data is expected to grow at a CAGR of more than 40% during the forecast period, and IoT is estimated to grow at a CAGR of more than 10%. The high growth rates of these technologies and products related to telecommunication aid the adoption of InP wafers. Hence, the demand for InP wafers for telecommunication will continue to increase during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
Indium Phosphide Wafers Market Scope |
|
Report Coverage |
Details |
Page number |
136 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 13.57% |
Market growth 2022-2026 |
$106.9 million |
Market structure |
Fragmented |
YoY growth (%) |
17.79 |
Regional analysis |
APAC, North America, Europe, the Middle East and Africa, and South America |
Performing market contribution |
APAC at 41% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Advanced Engineering Materials Ltd., American Elements, AXT Inc., Broadcom Inc., DingTen Industrial Inc., Engis Corp., Gelest Inc., InPACT, IQE Plc, JX Nippon Mining & Metals Corp., Logitech Ltd., NANOGRAFI Co. Inc., Reade International Corp., Semiconductor Wafer Inc., Stanford Advanced Materials, Sumitomo Electric Industries Ltd., Vital Materials Co. Ltd., Wafer World Inc., Western Minmetals SC Corp., and Xiamen Powerway Advanced Material Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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