Indium(III) phosphide is widely used in optoelectronics and high-speed electronic devices. It serves as a key material in the production of infrared light-emitting diodes (LEDs), laser diodes, and photodetectors due to its favorable direct bandgap and high electron mobility. It is also employed in high-efficiency solar cells, especially in multi-junction photovoltaic devices used in space and concentrated solar power systems. Its compatibility with heterojunction bipolar transistors (HBTs) and integrated circuits for microwave and millimeter-wave applications makes it valuable in telecommunications and radar systems. Additionally, it acts as a substrate or buffer layer for growing other III-V semiconductor compounds in advanced device structures.