South Korea Compound Semiconductor Market Size Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 5.8% from 2023 to 2033.
• The South Korea Compound Semiconductor Market Size is Expected to Hold a Significant Share by 2033.

The South Korea Compound Semiconductor Market Size is expected to hold a significant share by 2033, at a CAGR of 5.8% during the forecast period 2023 to 2033.

Market Overview

A compound semiconductor is formed by combining two or more elements from separate or the same periodic table groupings. It has expanded rapidly in recent years as a result of rising demand for apps on electronic and mobile devices. Chemical vapor deposition, atomic layer deposition, and other deposition processes are utilized to make the compound semiconductor. Moreover, the market depends to some extent by factors such as the advantages of compound semiconductor wafers over silicon-based wafers, the increase in demand for compound semiconductor epitaxial wafers in consumer electronics, and the introduction of wafer-related trends in the automotive industry. Furthermore, growth in the market is being driven by the South Korea expanding automotive industry, which is pushing up demand for high-performance and power-efficient semiconductors for EVs and autonomous driving technologies. Along with this, rising investment in renewable energy sources that use compound semiconductors in solar inverters and energy storage systems is driving market expansion. Aside from that, the implementation of South Korea government regulations, combined with expenditures in research and development (R&D) to stimulate innovation in advanced materials and semiconductor technologies, is expected to boost market growth.

Report Coverage

This research report categorizes the market for South Korea compound semiconductor market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea compound semiconductor market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the South Korea compound semiconductor market.

Driving Factors

The increasing deployment of advanced compound semiconductor technologies for complex defense and aerospace applications, such as radar, satellites, and electronic warfare systems, is driving market expansion in South Korea. Along with this, the market is being driven by an increase in the use of renewable energy products such as solar photovoltaic systems and power converters, which aligns with the country's commitment to sustainability. In addition, the extensive use of compound semiconductors in medical devices for imaging and diagnostic equipment is driving market expansion.

Restraining Factors

The last stages, such as assembly, testing, and packing, are more expensive due to a lack of innovative technology-based suitable equipment. Due to the reasons stated above, semiconductor industry firms are hesitant to enter the compound semiconductor market. As a result, the growth of the compound semiconductor industry value chain and the development of industrial segments are stifled, limiting the number of participants in this market.

Market Segment

• In 2023, the GaN segment accounted for the largest revenue share over the forecast period.

Based on the type, the South Korea compound semiconductor market is segmented GaN, GaAs, SiC, and InP. Among these, the GaN segment has the largest revenue share over the forecast period. The high breakdown voltage and low conduction resistance features of GaN enable high-speed switching and device downsizing. GaN devices are small (low parasitic capacitance), enabling for fast switching, high electron mobility and density, and easy downsizing. Unlike typical silicon devices, which require a larger chip area to reduce on-resistance, GaN devices are easily shrunk.

• In 2023, the IT & telecom segment accounted for the largest revenue share over the forecast period.

On the basis of application, the South Korea compound semiconductor market is segmented into IT & telecom, energy & power, aerospace & defense, automotive, consumer electronics, healthcare, others. Among these, the IT & telecom segment has the largest revenue share over the forecast period. Telecommunications is a significant application category in the compound semiconductor market, owing to the rising use of compound semiconductors like GaAs, GaN, Sic and InP. The telecommunications application market is anticipated to have the greatest share over the forecast period. 5G presents a significant opportunity for compound semiconductors in telecom applications.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea compound semiconductor market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Nextin
• Nepes
• Samsung Electronics
• Eugene Technology
• DB Hitek
• Sk Hynix
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea compound semiconductor market based on the below-mentioned segments:

South Korea Compound Semiconductor Market, By Type

• GaN
• GaAs
• SiC
• InP

South Korea Compound Semiconductor Market, By Application

• IT & Telecom
• Energy & Power
• Aerospace & Defense
• Automotive
• Consumer Electronics
• Healthcare
• Others