Compound Semiconductor Quarterly Market Monitor
19
2020 Sample From Technologies to Markets Compound Semiconductor Quarterly Market Monitor Compound Semiconductor Service 2020
Transcript of Compound Semiconductor Quarterly Market Monitor
2020
Sample
From Technologies to Markets
Compound Semiconductor Quarterly
Market Monitor
Compound Semiconductor
Service 2020
2
Ezgi DOGMUS, Ph.D.,Technology & Market Analyst
Compound Semiconductor &
Emerging Materials
Ahmed Ben SLIMANE,
Ph.D.,Technology & Market Analyst
Compound Semiconductor &
Emerging Materials
Ivan DONALDSON
VP of Yole Finance
Claire TROADEC
Divisional Director
Power & Wireless
Jean-Christophe ELOY
President & CEO
Experience
8+ years in Compound Semiconductors
Experience:
9+ years in Compound Semiconductors
Experience:
14 years in Semiconductor Industry
Strategy, Business Development and IR
Experience
20 years in Semiconductors & Business
Management
Experience
25+ years in Semiconductor Industry
Strategy
At Yole
GaAs, InP, Ga2O3, AlN, Diamond, GaN,
SiC Technology platform for Power
Electronics, RF and LEDs
At Yole:
GaAs, InP, Ga2O3, AlN, Diamond, GaN,
SiC Technology Platform for Power
Electronics, RF and LEDs
At Yole:
Manages all services
and relationships
for global financial clients
At Yole
Power Elec. & Compound. Semi., RF
Technologies and Applications, MEMS
& Sensors Manufacturing, Fabs &
Foundries.
At Yole
All technical topics
Previous companies
IEMN Lab, CEAPrevious companies:
TOTAL, AGRICOOL, IPVF & CNRS
Previous companies:
Micron Technology
Previous companies
Philips, NXP, Au Claire de la Terre
Previous companies
Ernst & Young, CEA Marketing Office
Education
PhD in Material Science, University of
Lille
Education:
PhD in Material Science, KAUST
Education:
MBA in Finance, Magna Cum Laude,
Boise State University
Education
M. Business Management
M. Sc. Applied Physics
Education
MBA EM Lyon
M.Sc. Electrical Engineering
INPG/ENSERG
ABOUT THE COMPOUND SEMICONDUCTOR TEAM AT YOLE
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Ezgi Dogmus, Technology & Market Analyst, Compound Semiconductors & Emerging Materials
As a Technology & Market Analyst, Compound Semiconductors, Ezgi Dogmus, PhD is member of the Power & Wireless division at Yole Développement
(Yole). She is daily contributing to the development of these activities with a dedicated collection of market & technology reports as well as custom
consulting projects. Prior Yole, Ezgi was deeply involved in the development of GaN-based solutions at IEMN (Lille, France). Ezgi also participated in
numerous international conferences and has authored or co-authored more than 12 papers. Upon graduating from University of Augsburg (Germany)
and Grenoble Institute of Technology (France), Ezgi received her PhD in Microelectronics at IEMN (France).
Contact: [email protected]
ABOUT THE AUTHORS
Biographies and contacts
Ahmed Ben Slimane, Technology & Market Analyst, Compound Semiconductor Monitors
Ahmed Ben Slimane, PhD. is a Technology & Market Analyst, Compound Semiconductors at Yole Développement (Yole). As part of the Power & Wireless team, Ahmed is engaged in the development of dedicated collection of market & technology reports and dedicated monitor. Previously, he worked as an epitaxy (MBE/MOCVD) & fabrication process engineer for GaAsbased photovoltaic applications at TOTAL and IPVF (Paris-Saclay, France). Ahmed also completed his PhD in Material Engineering from KAUST (Saudi Arabia). Ahmed obtained his Master degree in Electronics Engineering from INPG (Grenoble, France).
Contact: [email protected]
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STMicroelectronics, Wolfspeed/Cree, ROHM, Infineon, ON Semiconductor, Mitsubishi Electric, Showa Denko, II-VI, EPC, Power Integrations, Transphorm, GaN Systems, Navitas, IQE
COMPANIES MONITORED IN THIS PRODUCT
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• Compound Semi. Monitor timeline
• Terminology and definitions
o Acronyms
o Explanation and methodology
o Definition of estimated market, terminology at substrate, epitaxy & device level
o Supply chain & business model
o Open and Captive market
o Applicative power electronics market segments
o Formulas used
• Changes since previous quarter and what to look out for
• Compound semiconductor-based power market comparative analysis
o Power device as a function of power & frequency
o Power device market revenues : SiC vs. GaN vs SI
• Power SiC market overview
o Power SiC device market dynamics
o Power SiC open epiwafer market dynamics
o Power SiC wafer market dynamics
o Power SiC device market revenue
o Power Sic epiwafer market shipments
o Power SiC open epiwafer market revenue
o Power SiC wafer shipments
o Power SiC wafer market revenue
o Power SiC wafer pricing
o Power SiC epiwafer pricing
o Quarterly Power SiC device revenue: Near term
o Quarterly Power SiC device revenue: Long term
o Quarterly Power SiC wafer revenue: Near term
o Quarterly Power SiC wafer revenue: Long term
o Quarterly Power SiC open epiwafer revenue: Near term
o Quarterly Power SiC open epiwafer revenue: Long term
• Power SiC market forcasts
o Power SiC device market by segment
o Power SiC device market shares
o Power SiC open epiwafer market by segment
o Power SiC open epiwafer market share
o Power SiC wafer market by segment
o Power SiC wafer market shares
• Power SiC technology
• Power SiC device market by device type ($M)
• Power SiC bare die device market by device type ($M)
• SiC wafer development timeline
• Power SiC wafer market by wafer size ($M)
• Power SiC wafer market by wafer size (Units)
• Power SiC open epiwafer market by wafer size ($M)
• Power SiC open epiwafer market by wafer size (Units)$
TABLE OF CONTENT
Part 1/2
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• Power SiC market players
• STMicroelectronics - Power SiC device revenue
• Wolfspeed/CREE - Power SiC device revenue
• ROHM - Power SiC device revenue
• Infineon - Power SiC device revenue
• ON Semiconductor - Power SiC device revenue
• Mitsubishi Electric - Power SiC device revenue
• CREE - Power SiC epiwafer revenue
• Showa Denko - Power SiC epiwafer revenue
• CREE – Power SiC wafer revenue
• II-VI - Power SiC wafer revenue
• Power GaN market overview
o Power GaN market dynamics
o Power GaN open epiwafer market dynamics
o Power GaN device market revenue
o Power GaN open epiwafer market revenue
o Power GaN open + captive epiwafer market shipments
o Power GaN open epiwafer market shipments
o Power GaN epiwafer pricing
o Quarterly Power GaN device revenue: Near term
o Quarterly Power GaN device revenue: Long term
o Quarterly Power GaN epiwafer revenue: Near term
o Quarterly Power GaN epiwafer revenue: Long term
• Power GaN market forecasts
o Power GaN device market by segment
o Power GaN device market share
o Power GaN open epiwafer market by segment
o Power GaN open epiwafer market share
• Power GaN technology
o Power GaN device market by device type
o Power GaN bare die device market by device type
o Power GaN device market by technology platform ($M)
o Power GaN open epiwafer market by wafer type (in units)
o Power GaN open epiwafer market by wafer size (in units)
• Power GaN market players
o Infineon - Power GaN device revenue
o EPC - Power GaN device revenue
o Transphorm - Power GaN device revenue
o GaN Systems - Power GaN device revenue
o Power Integration- Power GaN device revenue
o Navitas - Power GaN device revenue
o IQE - Power GaN epiwafer revenue
TABLE OF CONTENT
Part 1/2
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COMPOUND SEMICONDUCTOR MONITOR - EVOLUTION
Compound Semiconductor Monitor
GaN & SiC Power
GaN & GaAs RF
GaAs & InP Photonics
(VCSELs & EELs)
Module I
Module II
Module III
2019 Q4 released
2020 Q3
Publication Date
*Under evaluation
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COMPOUND SEMICONDUCTOR MONITOR - TIMELINE
Dec
2019
March
2020
Jun
2020
Sep
2020
Dec
2020
March
2021
Jun
2021
Sep
2021
CS Monitor:
Module I
Q4 2019
CS Monitor
Module I
Q1 2020
update
CS Monitor
Module I
Q2 2020
update
CS Monitor
Module I
Module II
Q3 2020
update
CS Monitor
Module I
Module II
Q4 2020
update
CS Monitor
Module I
Module II
Module III
Q1 2021
update
CS Monitor
Module I
Module II
Module III
Q2 2021
update
CS Monitor
Module I
Module II
Module III
Q3 2021
update
Dec
2021
CS Monitor
Module I
Module II
Module III
Q4 2021
update
QUARTERLY MONITOR VERSION
PUBLICATION DATE
Each Quarterly Monitor version, labelled Qx, includes data from the former Quarter (Qx-1) as we need time to collect and
process the data from each company after their quarterly earnings release and after interviews with our analysts. For example,
this second release of the CS Monitor, labelled Q1 2020, is based on company data from Q4-2019.
This Monitor
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EXPLANATION OF CS MONITOR METHODOLOGY
POWER SiC and POWER GaN
Applicative power electronics
markets
CS power devices
CS epi wafer CS wafer
CS wafer CS epi wafer
Top-down approach
Bottom-up approach
MONITOR
Consumer Automotive
Transporta-
tion
IndustrialTelecom &
Infrastructure
Energy
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• As indicated on the previous slide, there are different business models with different levels of integration in Power SiC business.• Some players are vertically integrated from module down to wafer, as is the case for Cree/Wolfspeed, ROHM and STMicroelectronics.• Some players make epiwafer internally, such as Cree/Wolfspeed, Infineon and many others.• Some players, such as Semikron, Danfoss and others, make only module packages and buy dies from Cree, ROHM and others.
• In this context, we need to precisely define the market and the supplier revenue that we estimate:• Device level
• Device market: device market accessible by the suppliers of SiC technology. We estimate the penetration rate of SiC technology with regards to TAM* in the market size forecast.
• Device supply: we include the revenue of both the device players and module players. For example, Cree/Wolfspeed is selling their SiC dies to module packagers. Thus there is double counting. This is common in the Si semiconductor business, where companies such as TSMC is delivering devices to numerous fabless companies. Therefore, in the Monitor, the total revenue of the various device suppliers ($M) is larger than the device market ($M) estimated from a top-down approach. We expect the ratio of “the suppliers’ revenue” / “the estimated market size from the top down approach” to increase as the module business is expected to increase in the future.
• Epiwafer level• Both captive and open markets are counted for the market in terms of volume (units). Only open market is counted for the market size
($M) as the internal transfer pricing of numerous players are unknown to us. An outsourcing ratio is used to estimate the open market size ($M), which is application dependent. Whereas for EV/HEV market we estimate an outsourcing ratio around 80%, in our understanding other applications such as industrial, telecom and consumer have lower outsourcing ratios of around 40-50%.
• Epiwafer market: derived from device market. • Epiwafer supply: only wafers that are sold are counted. For example, for Cree/Wolfspeed, we do not include its internal consumption. As
we do not have access to their internal transfer pricing, we assume that there is no price difference. o Wafer level:
• Both captive and open markets are counted. • Wafer market: derived from device market.• Wafer supply: includes captive market. For example, for Cree/Wolfspeed, we include its internal consumption. As we do not have access to
its internal transfer pricing, we assume that there is no price difference.
POWER SIC: CAPTIVE AND OPEN MARKETS:
Which market and which revenue do we estimate in the Monitor?
* TAM: Total Accessible MarketCompound Semiconductor Quarterly Market Monitor | Sample | www.yole.fr | © 2020
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APPLICATIVE POWER ELECTRONICS MARKET SEGMENTS
• Home appliances
• Mobile fast charging
• Wireless charging
• Audio & Image
Consumer
•EV/HEV
•LIDAR in autonomous vehicles
Automotive
•Wind
•Photovoltaics
Energy
•Rail
Transportation
•Data center, servers
•Envelope tracking
Telecom & Infrastructure
•UPS
•Motor drives
• Industrial power supply
•LIDAR
•EV charging infrastructure
Industrial
•Defense
•Aerospace applications
•Medical
Others
• For the top down approach, all end system numbers are extracted from Yole’s internal database.
• In order to highlight the different market dynamics of the Power Electronics industry, our analyses are categorized into major
applicative market segments as shown below.
• In particular, as the primary driver for SiC market and an important driver for future GaN market, automotive is an independent
segment. Photovoltaics and Wind are positioned in the energy segment. For smaller market contributors, such as Defense or
medical, we have placed them in “others”.
• At Yole Developpement, the following end-applicative markets are tracked :
Mobile &
Consumer
Automotive &
MobilityTelecom &
Infrastructure
Defense &
Aerospace
Industrial Medical
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FORMULAS USED IN THE MONITOR
ASP: Average selling price
o ASP is the average selling price of a product across the market as a whole.
o e.g. in calculating the ASP of GaN epi-wafer: 𝐴𝑆𝑃 =𝑁𝑒𝑡 𝑟𝑒𝑣𝑒𝑛𝑢𝑒
𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑝𝑟𝑜𝑑𝑢𝑐𝑡𝑠 𝑠𝑜𝑙𝑑
YoY: Year-over-year growth
o The year-over-year growth rate calculates the percentage change during the past twelve months.
o e.g. the yearly growth for 2019 : 𝑌𝑜𝑌2019 =𝑌2019−𝑌2018
𝑌2018× 100 (%)
QoQ: Quarter-on-quarter
o Similar to YoY, quarter-over-quarter growth rate calculates the percentage change of one period with the same period from the previous year.
o e.g. the growth for the 3rd quarter, Q3, of 2019 : (𝑄𝑜𝑄3)2019=(𝑄3)2019−(𝑄3)2018
(𝑄3)2018× 100 (%)
Q/Q: Quarter-over-quarter
o quarter-over-quarter growth rate calculates the percentage change of one period with the previous period of the same year.
o e.g. the growth for the 3rd quarter, Q3, of 2019 : (𝑄/𝑄3)2019=(𝑄3)2019−(𝑄2)2019
(𝑄2)2019× 100 (%)
QoQ is commonly used for financial reports, while it is more relevant to report the Q/Q for SiC and GaN market which is growing very rapidly, in our opinion. We therefore report both QoQ & Q/Q in the quarter market overview forecasts and Q/Q for the rest.
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POWER SIC DEVICE MARKET DYNAMICS – Q2Q*
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NAVITAS – POWER GAN DEVICE REVENUE
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POWER GAN DEVICE MARKET DYNAMICS AND NEAR TERM DEVICE REVENUE
Device Market Revenues
Device Market Revenues: Quarterly updated
Device Revenues (in M$) Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21
Infineon X X X X X X X X X X X X X X
EPC X X X X X X X X X X X X X X
Power Integration X X X X X X X X X X X X X X
Transphorm X X X X X X X X X X X X X X
GaN Systems X X X X X X X X X X X X X X
Navitas X X X X X X X X X X X X X X
Others X X X X X X X X X X X X X X
Forecast X X X X X X X X X X X X X X
Total X X X X X X X X X X X X X X
Revenue growth Q/Q (%) X X X X X X X X X X X X X
Revenue growth QoQ (%) X X X X X X X X X X X X X
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CS MONITOR
Compound Semiconductor Market Monitor- Module 1 Q4 2019Covering the entire Power electronics market: Automotive, Consumer, Industry…
Report Quarter Q4-19
Power SiC Power GaN Si vs. SiC vs. GaNPower SiC Market Overview Power GaN Market Overview Market Projection by Material (Si vs. SiC vs. GaN)
Device Market Revenues Device Market Revenues
Open Epiwafer Market Revenues Open Epiwafer Market Revenues
Open & Captive Epiwafer Shipment Open & Captive Epiwafer Shipment
Wafer Market Revenues Epiwafer ASP (6 inch)
Wafer Shipment
Epiwafer & Wafer ASP (6 inch)
Power SiC Device Applicative Market Power GaN Device Applicative Market
Power Device Market by segment Power Device Market by segment
Power Device Market by Device type Power Device Market by Device type
Power Bare Die Market by Device type Power Bare Die Market by Device type
Power Device Market by Technology
Power SiC Wafer Applicative Market
Power Wafer Market by Segment Power GaN Epiwafer Applicative Market
Power Wafer Market by Size Open Epiwafer Market & Shipment By Segment
Power GaN on Si Open Epiwafer By Wafer Size
Power SiC Epiwafer Applicative Market Power GaN on Sapphire Open Epiwafer By Wafer Size
Power Epiwafer Market by Segment Power GaN Open Epiwafer By Wafer Size
Power Epiwafer Market by Size Power GaN Open Epiwafer By Technology
Power SiC Market Players Power GaN Market Players
STMicroelectronics Infineon
Cree Transphorm
ROHM EPC
Infineon GaN Systems
Mitsubishi Electric Power Integrations
OnSemiconductor Navitas
Showa Denko IQE
II VI
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Contact our
Sales Team
for more
information
Power SiC 2019: Materials, Devices,
and Applications
Power GaN 2019: Epitaxy, Devices, Applications & Technology Trends
YOLE GROUP OF COMPANIES RELATED REPORTS
YOLE DEVELOPPEMENT
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Contact our
Sales Team
for more
information
SiC MOSFET Comparison 2019GaN-on-Si HEMT vs SuperjunctionMOSFET Comparison 2019
YOLE GROUP OF COMPANIES RELATED REPORTS
SYSTEM PLUS CONSULTING
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19About Yole Développement | www.yole.fr | ©2020
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