Global Gallium Arsenide (GaAs) Wafer Market is valued approximately at USD 787 million in 2019 and is anticipated to grow with a healthy growth rate of more than 12.2% over the forecast period 2020-2026. Gallium Arsenide (GaAs) is a type of semiconductor compound made up of two elements gallium (Ga) and arsenic (As) in which gallium is rare, and arsenic is poisonous. Gallium is a biproduct manufactured after smelting of zinc and aluminum. GaAs is widely used in several applications that includes manufacturing of LEDs, solar cells, monolithic microwave integrated circuit (MMIC), laser diodes, wireless communication, and more. GaAs wafers are appropriate for fast electronic switching applications and ultra-high radio frequency. GaAs wafers possess variety of attributes including high thermal stability, better signal to noise ratio, high electron mobility, and wider temperature operating range. Increasing 4G and 5G networks around the world, rapid change in new smartphone technologies and growing penetration of light emitting diode (LED) in general lighting are the few factors responsible for high CAGR of the market over the forecast period. For instance, global 5G subscription will reach 1 billion by 2023 and it will cover over 20% of the population till 2023.
Also, as per the World Economic Forum, the impact of 5G in goods and services will reach USD 12 trillion till 2035. Similarly, in 2019, the UK government has announced that it will invest nearly USD 49.6 million (?45.01 million) in trials and testbed projects ahead of widespread of 5G rollout in the UK. This, in turn, is expected to accelerate the demand of Gallium Arsenide (GaAs) Wafer around the world. However, the COVID-19 outbreak around the world and the resulting strong actions implemented by the government will have far more severe impact on the semiconductor industry thus, affecting the production of semiconductor compounds and reduced the consumer demand therefore, hampering the market growth worldwide. In addition, high production cost is also the major factor limiting the market growth over the forecast period of 2020-2026.
The regional analysis of global Gallium Arsenide (GaAs) Wafer market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to rising smartphone penetration, along with the favorable government support for 4G networks and 5G rollouts in the countries, especially China and India. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to the rise in demand for opto-electric devices in the region.
Major market player included in this report are:
- Global Communication Semiconductors, LLC
- Ommic S.A.
- Visual Photonics Epitaxy Co, Ltd.
- WIN Semiconductors Corporation
- AXT Inc.
- Century Epitech Co Ltd.
- Powerway Advanced Material Co., Ltd.
- Intelligent Epitaxy Technology, Inc.
- Sumitomo Electric Semiconductor Materials Inc.
- Freiberger Compound Materials GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Production Method:
- Vertical Gradient Freeze (VGF)
- Liquid Encapsulated Czochralski (LEC)
- Molecular Beam Epitaxy (MBE)
- Metal-Organic Vapor Phase Epitaxy (MOVPE)
- Mobile Devices
- Photovoltaic Devices
- Wireless Communication
- Optoelectronic Devices
- Aerospace & Defense
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2016, 2017, 2018
- Base year – 2019
- Forecast period – 2020 to 2026
Target Audience of the Global Gallium Arsenide (GaAs) Wafer Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers