rising adoption of smartphones and tablets is driving the Gallium Arsenide Components Market
Technavio analyzes that the Gallium Arsenide Components Market is expected to grow at a CAGR of 6.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3518.2 million.There are various factors that contribute to the growth of the market. The Gallium Arsenide (GaAs) components market is experiencing significant growth, driven primarily by the increasing adoption of advanced electronic devices such as smartphones and tablets. GaAs is a preferred material for manufacturing high-frequency, high-power, and high-speed electronic components due to its superior electrical properties. The proliferation of 5G technology and the Internet of Things (IoT) are further fueling the demand for GaAs components in various applications. As a result, the market for GaAs components is projected to expand at a robust CAGR during the forecast period.
The LEC-grown Gallium Arsenide (GaAs) segment holds a significant market share in the global GaAs components industry, particularly in the production of Filter and Duplexer, RF Mixer, Switch, and other related components. This dominance is attributed to the increasing demand for GaAs in wireless communication, telecommunication, consumer devices, aerospace, defense and satellite communication, and community antenna television industries. The primary driver for the growth of this segment is the extensive usage of semi-insulating GaAs single crystals in the semiconductor industry. LEC-grown GaAs offers several advantages, including ease of scalability, improved effectiveness, reduced harmful temperature fluctuations, control over crystal carbon content, and excellent insulation properties. These benefits, coupled with the expanding semiconductor industry, are expected to fuel the market's growth during the forecast period.
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Gallium Arsenide Components Market Segmentation
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The Gallium Arsenide (GaAs) components market encompasses various applications in industries such as Aerospace and Electronics, including Laser Diodes and Light Emitting Diodes for optoelectronic devices, and Microwave Integrated Circuits for the Communications Industry and 5G Networks. GaAs semiconductor materials, such as Indium Gallium Arsenide Phosphide (InGaAsP), are used in 5G Cellular Network components like Power Amplifiers, Low Noise Amplifiers, Filters and Duplexers, RF Mixers, Switches, and VGF Technology. GaAs is preferred due to its high frequency operation, low noise, and high operating voltage capabilities. Wafer sizes vary from small to large, and the semiconductor industry employs plasma etching for fabrication. Silicon alternatives are also compared in this context.
The Gallium Arsenide (GaAs) components market is a significant segment of the larger global semiconductor materials and equipment market. Key GaAs components include Laser Diodes, Light Emitting Diodes, Optoelectronic Devices, Microwave Integrated Circuits, and are extensively used in various industries such as Aerospace, Electronics, and Communications. The market's growth is driven by increasing investments in fabrication, particularly in the establishment of new facilities to meet the surging demand for ICs in sectors like 5G Networks and 5G Wireless Communication. This trend is expected to continue, boosting the revenue of manufacturers involved in the production of GaAs components, as well as those supplying wafer processing, mask/reticle manufacturing, wafer manufacturing, fab facilities equipment, assembly and packaging, and test equipment.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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