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Unlike the silicon semiconductor industry, the compound semiconductor industry does not have an international consensus for a few selected applications and markets to set priorities for investments. The main purpose of this paper is to increase the awareness among industrial decision-makers about the need for an international consensus or technology roadmap concerning selected compound semiconductors. Reasons are given for why there needs to be more wide-spread involvement in technology roadmaps for compound semiconductors. The technical challenges presented by predictive computer simulations, high performance analog-to-digital converters, and RF power devices are three areas from among many for which technology roadmaps would be appropriate.