What Is The Overview Of The Global Gallium Arsenide (Gaas) Wafer Market?
A gallium arsenide (GaAs) wafer is a thin slice of semiconductor material composed of gallium and arsenic, used primarily in the fabrication of electronic devices. It is used in electronics and optoelectronics for their efficient performance in high-frequency and light-emitting applications.
Gallium Arsenide (GaAs) Wafer Global Market Report 2024 provides data on the global gallium arsenide (gaas) wafer market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The gallium arsenide (gaas) wafer market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Gallium Arsenide (Gaas) Wafer Market?
The gallium arsenide wafer market has seen rapid growth, increasing from $1.06 billion in 2023 to $1.2 billion in 2024, reflecting a CAGR of 12.5%. Key growth factors include the expansion of the LED industry, optoelectronic applications in displays and lighting, automotive radar integration, high-efficiency solar cells, and early adoption in telecom and satellite communications. By 2028, the market is projected to reach $1.93 billion, with a CAGR of 12.7%, driven by the adoption of VCSELs in facial recognition and LiDAR, satellite communication growth, and GaAs wafer applications in medical devices. Trends include GaAs-on-insulator technology, hybrid integration for multifunctionality, research into next-gen GaAs materials, and integration with silicon substrates to enhance semiconductor efficiency.
What Are The Core Factors Supporting Growth In The Gallium Arsenide (Gaas) Wafer Market?
The widespread adoption of 5G infrastructure is expected to support the growth of the gallium arsenide (GaAs) wafer market. 5G infrastructure enables faster data speeds and lower latency, and GaAs wafers are essential for processing high-frequency signals in these networks. In 2023, North America’s 5G penetration rate reached 40%, with projections indicating continued growth. This surge in 5G adoption will drive demand for GaAs wafers.
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What Are The Major Segments Within The Global Gallium Arsenide (Gaas) Wafer Market?
The gallium arsenide (GaAs) wafer market covered in this report is segmented –
1) By Type: Vertical Gradient Freeze Gallium Arsenide (GaAs), Liquid-Encapsulated Czochralsky Gallium Arsenide (GaAs), Other Types
2) By Application: Radio Frequency, Light Emitting Diode, Vertical-Cavity Surface-Emitting Laser (VCSEL), Photovoltaic
3) By End-Use: Telecommunication, Consumer Devices, Aerospace, Defense And Satcom, Automotive, Community Antenna Television (CATV) And Wired Broadband, Other End-Users
Which Trends Are Expected To Transform The Gallium Arsenide (Gaas) Wafer Market?
In the gallium arsenide (GaAs) wafer market, companies are focusing on advancing technologies such as epitaxial GaN and GaAs wafers to improve the performance of electronic and optoelectronic devices. For instance, in May 2023, IQE launched a 200mm RGB epi for micro-LED displays, crucial for new technologies like wearables and augmented reality devices.
What Is The Fastest Growing Region In The Gallium Arsenide (Gaas) Wafer Market?
North America was the largest region in the gallium arsenide (GaAs) wafer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gallium arsenide (GaAs) wafer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
