Global GaAs wafer market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 12.5% during the forecast period.
Global GaAs wafer market Dynamics
Growing adoption of GaAs wafer for various real-world applications and increasing requirement of GaAs in the manufacturing of devices such as monolithic microwave integrated circuits, microwave frequency integrated circuits, laser diodes, IR light-emitting diodes, optical windows, and solar cells are the major driving factors behind the growth of the market. The growing transition towards GaAs wafer over silicon wafer as GaAs wafer has advanced properties and increasing use of GaAs in the applications like mobile phones, radar systems, and satellite communication and for space applications and growing market for semiconductor industry across the globe are expected to improve the growth of the market during the forecast period. GaAs wafer offers some benefits such as flexibility and lightweight design, great Resistance, high efficiency, and low light performance which are ultimately propelling the growth of the market.