Gallium Arsenide (GaAS) Wafer Market Size, Share & Industry Analysis

Posted by Ankit Dwivedi on March 9th, 2022

The global and China gallium arsenide (GaAS) wafer market size was 260 million in 2019. The abrupt emergence of the COVID-19 pandemic has severely impacted the global economy. The global and China gallium arsenide (GaAS) wafer market has observed a negative impact of the coronavirus outbreak. According to our research, the market is projected to reach USD 330 million by 2024 and exhibit a CAGR of 4.5% during the forecast period. The sudden increase in the CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels after the pandemic is over.

https://www.businessresearchinsights.com/market-reports/gallium-arsenide-gaas-wafer-market-100045

COVID-19 IMPACT

\"Swift Internet Penetration Amidst Pandemic to Limit the Pandemic’s Impact\"

The humanitarian crisis has inflicted unparalleled challenges on the global economic structure and stagnated the growth of several industries and markets. However, the global and China gallium arsenide (GaAS) wafer market has witnessed a moderate impact of the COVID-19 pandemic. The shutdown of manufacturing facilities and production plants has affected the market growth. The low production of GaAS wafers due to the low available workforce has negatively impacted the market\'s growth. However, the number of internet users has dramatically surged during the pandemic. The demand for high-speed and WiFi networks has risen immensely amidst the pandemic. The high adoption of IoT and the high growth rate of mobile data have benefited the market. The market is expected to gain steep growth in the coming years due to rapid digitization across developing and developed countries.

SEGMENTATION

Based on product type, the market segments into VGF grown GaAS, LEC grown GaAS, and others. Based on product application, the market fragments into optoelectronic devices, wireless communication, and others. Out of these, the wireless communication and VGF grown GaAS segments are expected to witness the highest growth. The VGF grown GaAS segment holds more than 60% share in the global gallium arsenide (GaAS) wafer market. Geographically, the market is classified into five major regions- North America, Asia Pacific, Europe, the Middle East & Africa.

List of Key Market Players Profiled:

• Freiberger Compound Materials
• AXT
• Sumitomo Electric
• China Crystal Technology
• Shenzhou Crystal Technology
• Tianjin Jinming Electronic Materials
• Yunnan Germanium
• DOWA Electronics Materials
• II-VI Incorporated
• IQE Corporation
• Wafer Technology

KEY INDUSTRY DEVELOPMENTS:

April 2020: NASA announced that its upcoming NG-11 mission would carry 60 small satellites powered by gallium arsenide solar cells manufactured by Alta Devices.

REPORT COVERAGE

The market is highly competitive and comprises several key players operating domestically and internationally. The global and China gallium arsenide (GaAS) wafer market report provides a comprehensive market assessment and focuses on several critical factors such as applications, end-users, types, and leading companies. Other than this, the report provides valuable insights into the regulatory scenarios of the market and current market trends. It also features the latest industry developments. In addition to the factors mentioned above, the report incorporates significant factors contributing to the market’s growth in recent years.