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Quarterly smartphone production jumps 12.1% in Q4/2023
Annual total falls 2.1% to 1.166 billion units in 2023
LED lighting industry to see 5.8 billion units of secondary replacement demand for LED lamps and luminaires in 2024
Secondary replacement to comprise 78% of LED lighting demand by 2028
LED packaging market to grow at 3.9% CAGR from $16bn in 2024 to $19.4bn in 2029
CSP package type and Asia Pacific region to see highest CAGRs
Compound semiconductor substrate market growing at 17% CAGR to $3.3bn in 2029
Markets fueled by strong growth in power electronics and photonics
Consumer electronics 3D sensing VCSEL market to rebound at 11% CAGR to $1.404bn in 2028
Market fell to US$847m in 2023 due to weak consumer demand and pricing pressure
Smartphone production rebounds by 13% in Q3, after eight quarters of year-on-year declines
Further 5–10% growth expected in Q4, limiting full-year decline to under 3% to 1.16 billion units
Gallium nitride and silicon carbide to be essential for enabling scale and potential of AI
Adopting SiC or GaN for power supplies in data centers to cut energy consumption while freeing space for extra computing power
Smartphone shipments on track for recovery after only slight decline in Q3
China shipments fall for tenth consecutive quarter
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