What are the Historical Developments and Current Growth Metrics of the Gallium Arsenide (GaAs) Wafer Market?
The gallium arsenide (gaas) wafer market has seen considerable growth due to a variety of factors.
• The gallium arsenide (GaAs) wafer market has experienced rapid growth in recent years. It will grow from $1.2 billion in 2024 to $1.35 billion in 2025 at a compound annual growth rate (CAGR) of 12.9%.
This growth can be attributed to the growth of the LED industry, increased use of GaAs wafers in optoelectronics like displays and lighting, integration of GaAs wafers in automotive radar and driver assistance systems, and innovations in photovoltaics.
What is the Forecasted Market Size and CAGR for the Gallium Arsenide (GaAs) Wafer Market?
The gallium arsenide (gaas) wafer market is expected to maintain its strong growth trajectory in upcoming years.
• The gallium arsenide (GaAs) wafer market is projected to reach $2.17 billion by 2029, growing at a CAGR of 12.6%.
The market's growth will be driven by the adoption of VCSELs in facial recognition and LiDAR systems, the expansion of satellite communication networks, and growing demand for GaAs wafers in medical devices and industrial automation. Key trends will include the development of GaAs-on-insulator (GaAsOI) technology, hybrid integration technologies, increased investment in next-generation GaAs materials, and the integration of GaAs wafers with silicon substrates for enhanced performance.
What Key Factors and Trends Are Driving The Growth Gallium Arsenide (GaAs) Wafer Market?
The increase in 5G infrastructure adoption is expected to drive the growth of the gallium arsenide (GaAs) wafer market. The adoption of 5G infrastructure, necessary for faster internet and improved communication, is driven by the demand for reliable, high-speed connections. GaAs wafers play a crucial role in enabling high-frequency signal processing for 5G. According to 5G Americas in September 2023, North America's 5G penetration reached 40%, with 5G connections projected to reach 669 million by 2028, supporting the GaAs wafer market's growth.
What Are The Market Segments In The 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 Czochralski 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
Subsegments:
1) By Vertical Gradient Freeze Gallium Arsenide (GaAs): High Purity Gaas Wafer, Low Defect Density Gaas Wafer, High-Performance Gaas For Optoelectronic Applications
2) By Liquid-Encapsulated Czochralsky Gallium Arsenide (GaAs): Czochralsky Gaas Wafers For Semiconductor Devices, Gaas For High-Speed Electronics, Gaas For Microwave And Rf Applications
3) By Other Types: Horizontal Gradient Freeze Gaas, Epitaxial Gaas Wafers, Gaas For Photovoltaic Applications, Gaas For Photonics And Laser Technology
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What Emerging Trends Are Influencing The Growth Of The Gallium Arsenide (GaAs) Wafer Market?
Companies in the gallium arsenide (GaAs) wafer market are focusing on advanced technologies like epitaxial gallium nitride (GaN) and GaAs wafers to improve device performance. For example, in May 2023, IQE, a UK-based epiwafer foundry company, launched a 200mm RGB epi for micro-LED displays. These wafers use GaN and GaAs, essential for developing new display technologies in wearables and AR/VR headsets.
Who Are the Key Players In The Gallium Arsenide (GaAs) Wafer Market?
Major companies operating in the gallium arsenide (GaAs) wafer market are:
• Sumitomo Electric Industries Ltd.
• Shin-Etsu Chemical Co. Ltd.
• Hitachi Metals Ltd.
• Skyworks Solutions Inc.
• Umicore
• Siltronic AG
• Win Semiconductor Corp
• IQE PLC
• AXT Inc.
• Yunnan Germanium Co.Ltd.
• Advanced Wireless Semiconductor Company
• Anadigics Inc.
• Kopin Corporation
• Xiamen Powerway Advanced Material Co.Ltd.
• IntelliEPI Inc.
• Nichia America Corporation
• Wafer Technology Ltd.
• Freiberger Compound Materials
• Vital Materials Co. Ltd.
• Xinxiang Shenzhou Crystal Technology Co. Ltd
What Are The Regional Insights Into 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.
