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Gallium Arsenide Wafer Market Report
Gallium Arsenide Wafer Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028
The Gallium Arsenide Wafer Market is estimated to grow from USD 1028.72 million in 2021 to USD 2306.83 million by 2028 at a healthy CAGR of 12.16% during the forecast period of 2022-2028.
Gallium Arsenide (GaAs) wafer is produced as a combination of gallium and arsenic. It is synthesized by melting metals such as aluminum and zinc, as well as Arsenic. It is highly preferred over silicon and other compound semiconductor devices owing to its better scalability, functionality, and compatibility with the IoT network. Also, it offers better network connectivity by allowing better data transmission and superior quality when compared to other semiconductor-based devices and can be manufactured on a commercial scale with a high yield rate.
The gallium arsenide wafer market is mainly driven by rising internet penetration across the globe, specifically in developing countries such as Brazil and India. In addition, the demand for base stations, backhaul, and fiber-optic networks in wireless communication infrastructure & Wi-Fi connectivity products have accelerated and thus promote the increasing penetration of the internet. The strong growth rates for such technologies and other products about wireless communications are augmenting the adoption of GaAs wafers in the coming years.
The outbreak of COVID-19 has negatively impacted the gallium arsenide wafer industry mainly due to lockdowns imposed by the governments around the world to prevent the spread of COVID-19. The manufacturing activities have been affected significantly due to limited workforce and lockdown measures coupled with supply chain disruption further affected the industry growth in the coming years.
Key players operating in the Gallium Arsenide Wafer Market are-
The target audience of Gallium Arsenide Wafer Market includes-
Based on application, the gallium arsenide wafer market has been classified into mobile devices, wireless communications, radio frequency electronics, aerospace and defense, and others. The radiofrequency electronics segment accounted for the largest market share in 2021 The radio-frequency devices developed with GaAs substrates are most commonly used in wireless communication applications, such as mobile communication, wireless networks (WLAN), satellite communications, 4G/5G base stations, and Wi-Fi communications, thus bolstering the segment growth.
By region, the Asia-Pacific Gallium Arsenide Wafer market accounted for the largest share in 2021 and is expected to grow at a significant CAGR during the review period. The gallium arsenide wafer market growth is mainly propelled by a dense population coupled with the rising smartphone penetration in the region. Also, China, Japan, and India have surging demand for advanced technological devices such as smart devices, smartphones, computers, and laptops, further augmenting the regional market growth.
The North America Gallium Arsenide Wafer market is expected to grow at a healthy CAGR during the review period. The regional growth is ascribed to a large presence of key industry players in the region, high disposable income, strong product innovation, and increasing sales of consumer electronic devices.
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The market is segmented in the following ways:
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
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The following are the key features of the report:
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The gallium arsenide wafer market is expected to witness an impressive growth of 12.16% CAGR in the coming years.
Semiconductor Wafer Inc (Taiwan), AXT Inc. (US), Freiberger Compound Materials GmbH (Germany), Xiamen Powerway Advanced Material Co. Ltd. (China), Sumitomo Electric Industries Ltd. (Japan), Wafer Technology Ltd. (UK), MTI Corporation (US), Vital Materials Co Limited (US), Advanced Wireless Semiconductor Co. (Taiwan), GCS Holdings Inc. (US) are among the key players in the gallium arsenide wafer market.
The gallium arsenide wafer market size is expected to reach USD 2306.83 million in 2028.
The radiofrequency electronics segment accounted for the largest share in the gallium arsenide wafer market in 2021.
Asia-pacific is expected to grow at a significant CAGR in the gallium arsenide wafer market in the next five years.
Gallium Arsenide Wafer Vendors, Gallium Arsenide Wafer Manufacturers, Gallium Arsenide Wafer Distributors, Organizations, Government Bodies are the target audience in the gallium arsenide wafer market.
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