LONDON--(BUSINESS WIRE)--The global GaAs wafers market is expected to post a CAGR of about 12% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the demand for GaAs wafers is the growth of the solar power industry. The demand for solar cells has been increasing because of the growth of the solar power industry in different regions. As solar cells are made up of GaAs wafers, the growth of the solar power industry is expected to contribute to an increased demand for GaAs wafers. The launch of several solar-backed schemes in countries such as China, the US, Japan, India, France, and Australia are promoting the sales of solar cells.
This market research report on the global GaAs wafers market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emerging concept of the Internet of Things (IoT) as one of the key emerging trends in the global GaAs wafers market:
Global GaAs wafers market: Emerging concept of the Internet of Things (IoT)
Several industries are concentrating on the expansion of communication infrastructure. The demand for high-frequency communication devices has been increasing, particularly due to the advent of the IoT concept. Therefore, the demand for Ga-As based ICs has also been rising as Ga-As-based devices are particularly compatible with the IoT network.
“GaAs devices offer better functionality in IoT devices as compared with silicon and other compound semiconductor devices. GaAs devices permit better data transmission when used in IoT devices, which enables better network connectivity. GaAs devices allow high-speed data transfer when integrated into mobile devices,” says a senior analyst at Technavio for research on embedded systems.
Global GaAs wafers market: Segmentation analysis
This market research report segments the global GaAs wafers market by application (wireless communication network, mobile devices, and aerospace and defense) and geography (the Americas, APAC, and EMEA).
The mobile devices segment held the largest market share in 2017, accounting for nearly 62% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with close to 79% of the market share, followed by the Americas and EMEA respectively. APAC is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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