New York, Feb. 27, 2023 (GLOBE NEWSWIRE) -- In 2023, value of the Indium Phosphide Market would total US$ 5.1 billion. In the following ten years, it would display a CAGR of 5.6%. It would generate an absolute dollar opportunity worth US$ 3.7 billion. By 2033, the market would be worth US$ 8.8 billion.
Indium phosphide is used to create lasers, photodetectors, and modulators. It has the ability to generate laser signals. It can recognize them after converting them into electronic form.
They are used for commercial networks and data centers. They are also utilized in long-distance optical fiber communications. Indium phosphides are used in base stations for LTE, 5G, and 3G.
Clean components are integrated under high pressure and heat to produce indium phosphide wafers. Heat breakdown of the chemical is another way to make wafers.
It is produced with phosphine and trialkyl indium. Superior quality indium phosphide wafers are made by a multi-stage process.
Widespread use of indium phosphide can be seen in fiber-optic high-speed communication. More than 1000 nm of light is detected and produced by it. It is employed in optoelectronics.
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In North America, wearable technology would become very popular. It is flexible enough to be applied to any area of the body. It makes gadgets functional for daily tasks.
It also adapts to shifting lifestyles. In North America, there is a huge demand for wearable technology. This is because of its capacity to provide opportunities for data exchange.
It can exchange data between a network and a device. It has a web connection as well. In North America, urbanization rates are rising.
It has increased demand for modern, attractive products. These devices can effectively satisfy time management and functionality requirements.
Millennial generation as a whole has embraced smartwatches. They now have more purchasing power, which explains this. They want to invest money on items to keep track of their usual working hours and opulent requirements.
Key Takeaways from Indium Phosphide Market:
- From 2018 to 2022, the global indium phosphide market witnessed 3.3% CAGR.
- By type, the industrial grade category would exhibit 5.4% CAGR from 2023 to 2033.
- By application, the optoelectronic devices segment would showcase 5.2% CAGR by 2033.
- Indium phosphide sales in China would expand at US$ 753.4 million in 2033.
- Indium phosphide demand in the USA would elevate at US$ 2.8 billion by 2033.
- “Demand would benefit from advancements in technology, electronic mobility, and digitalization. Need for high functionality from a single device has increased demand for small-sized gadgets. Silicon wafer's cost will go up as a result,” says a lead analyst.
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Competitive Landscape: Indium Phosphide Market Sumitomo Electric Industries
- Sumitomo Electric Industries
- AXT
- JM Gallium
- Showa Denko
- II-VI Incorporated
- Semiconductor Wafer, Inc.
- Wafer World, Inc.
- IQE plc. And more
New product introductions are the focus of a few top indium phosphide providers. Large-scale manufacturers' presence would aid in the market's growth. According to Persistence Market Research, the market would experience fierce competition over the next ten years.
For instance,
- In June 2021, Coherent Corporation launched 100Gbps indium phosphide directly modulated lasers. They will be used in transceivers in data centers across the world. 400 and 800Gigabit Ethernet transceivers are widely in demand. This is attributed to low cost and low power consumption. The company’s lasers are of high modulation speed and output quality. These lasers are built on indium phosphide technology platform.
- In December 2020, JePPIX Pilot Line launched designing and manufacturing services. These are meant for indium phosphide-based photonic technology. It offers indium phosphide-based process design kit.
- In November 2018, Coherent Corporation acquired Finisar for US$ 3.2 billion. Both these companies invested in vertical cavity surface emitting lasers. This step will help Coherent develop an indium phosphide wafer fabrication facility. It will double sales and employees. It will also help to get additional Datacom transceivers. This deal will add five fabrication factories of gallium arsenide. Coherent will produce photonic components with them.
Get More Valuable Insights into Indium Phosphide Market
Persistence Market Research, in its new offering, provides an unbiased analysis of the indium phosphide market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
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The study incorporates compelling insights on the indium phosphide market based on type (industrial grade, electronics grade), application (wireless communication, optoelectronics devices), and region.
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