According to the research report titled ‘Global Gallium Arsenide (GaAs) Wafer Market Size study with COVID-19 impact, by Production Method (Vertical Gradient Freeze (VGF), Liquid Encapsulated Czochralski (LEC), Molecular Beam Epitaxy (MBE), Metal-Organic Vapor Phase Epitaxy (MOVPE)), by Application (Mobile Devices, Photovoltaic Devices, Wireless Communication, Optoelectronic Devices, Aerospace & Defense, Others) and Regional Forecasts 2020-2026’, available with Market Study Report, global gallium arsenide (GaAs) market size accounted for USD 787 million in 2019 and is expected to grow with a CAGR of 12.2% during 2020-2026.
 

For the record, GaAs (gallium arsenide) is a semiconductor compound which comprises of poisonous element Arsenic as well as rare Gallium. The latter is obtained as a biproduct after smelting of aluminum and zinc.
 

Factors such as rapid expansion of 4G & 5G networks and robust advancements in smartphone technologies are driving global GaAs wafer market growth. In fact, worldwide 5G subscription is estimated to reach 1 billion and cover 20% of the population by the year 2023. Moreover, the World Economic Forum stated that the impact of 5G in goods & services sector is predicted to record USD 12 trillion by 2035. Similarly, the UK government in 2019 revealed that it will allot around USD 49.6 million towards trials and testbed projects before expansive deployment of 5G technology in the country.
 

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GaAs wafers are ideal for applications such as fast electronic switching and ultra-high radio frequency. It is widely used in manufacturing LEDs, MMIC (monolithic microwave integrated circuit), solar cells, wireless communications and laser diodes among others. Thus, rising penetration of LED (light emitting diode) is also aiding the market expansion.
 

The widespread outbreak of COVID-19 has however, resulted in imposition of strict lockdowns across the globe, resulting in reduced semiconductor production as well as plunge in consumer demand, which in turn is negatively impacting the growth of global gallium arsenide wafer industry. Additionally, high manufacturing cost associated with GaAs may also act as a restraining factor to the overall market expansion.
 

As per production method, global gallium arsenide wafer market is segmented into MOVPE (metal-organic vapor phase epitaxy), MBE (molecular beam epitaxy), LEC (liquid encapsulated Czochralski and VGF (vertical gradient freeze) among others. Elaborating on the application scope, the industry is bifurcated into aerospace & defense, optoelectronic devices, wireless communication, photovoltaic devices, mobile devices and others.
 

Regionally, Asia-Pacific accounts for a significant share in global gallium arsenide wafer market, primarily driven by rising adoption of smartphones and favorable regulatory scenario regarding deployment of 4G and 5G networks in India and China. Consumer inclination towards opto-electric devices is also facilitating the business scenario in Asia-Pacific.
 

Freiberger Compound Materials GmbH, AXT Inc., Sumitomo Electric Semiconductor Materials Inc., Intelligent Epitaxy Technology Inc., Powerway Advanced Material Co. Ltd., Century Epitech Co. Ltd., WIN Semiconductors Corp., Visual Photonics Epitaxy Co. Ltd., Ommic SA and Global Communication Semiconductors LLC are the major companies in worldwide gallium arsenide wafer market.