NEW YORK, Sept. 19, 2023 /PRNewswire/ -- The Gallium Arsenide Components Market is projected to have remarkable growth, with a Compound Annual Growth Rate (CAGR) of 6.19% between 2022 and 2027. This expansion is expected to result in a substantial increase in market size, amounting to an impressive USD 3.26 billion. A comprehensive analysis of the market reveals that the rising adoption of smartphones and tablets, the increased demand for data, and the faster product replacement cycle and increased design complexity are the primary driving forces behind this robust growth. Download a free sample report here

The Gallium Arsenide Components Market report, covering the period from 2023 to 2027, encompasses an extensive examination of market segmentation, including type (LEC grown GaAs and VGF grown GaAs), application (mobile devices, wireless communication, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Additionally, the report provides a detailed analysis of key drivers, trends, challenges, and historical market data spanning from 2017 to 2021.

The widespread adoption of smartphones and tablets is the primary driver of the gallium arsenide components market. In 2020, smartphone shipments are expected to exceed 2 billion units, especially in emerging markets like China and India, where affordable smartphones are gaining popularity along with increased internet access. This increase in smartphone demand is boosting the need for GaAs components, particularly GaAs power amplifiers, as modern smartphones require them to support various frequency bands for 3G and 4G networks.

The gallium arsenide components market is thriving due to the rise of high-powered electronic devices. These devices demand quick, innovative, and energy-efficient components that silicon-based wafers struggle to deliver without sacrificing performance. GaAs components are also energy-efficient and compact, making them ideal for smaller devices. This technology benefits consumers with portable, efficient electronics, while manufacturers enjoy long-term cost savings and improved device capabilities. This is anticipated to have a positive impact on market growth during the forecast period. For more details, get the free sample report now

One of the challenges affecting gallium arsenide components market growth is the availability of alternative devices such as GaN, SiGe, LDMOS, and CMOS, which have emerged since 2012. These alternatives are being used in various applications, including power amplifiers and low-noise amplifiers, and are targeting the same end-user segments as GaAs components. Additionally, GaAs has limitations in operating voltage, while high-power RF semiconductor companies are increasingly adopting non-silicon substrates like GaN for high-voltage applications. This could potentially reduce the demand for GaAs components in the future.

Companies in the gallium arsenide components market are deploying various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to strengthen their market presence. Notable market players include:

• Analog Devices Inc.
• Broadcom Inc.
• CMK Ltd.
• DOWA Electronics Materials Co Ltd
• Edmund Optics Inc.
• Freiberger Compound Materials GmbH
• Furukawa Denshi Co. Ltd.
• Hanergy Thin Film Power EME BV
• II-VI Inc.
• Logitech Ltd.
• MACOM Technology Solutions Holdings Inc.
• Murata Manufacturing Co. Ltd.
• NXP Semiconductors NV
• Qorvo Inc.
• Reade International Corp.

For complete insights of gallium arsenide components market, buy the full report now

Related reports

Gallium Arsenide Wafers Market: The gallium arsenide (gaas) wafers market share is expected to increase by 2.73 million ton from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 15.3%.

Gallium Nitride (GaN) Semiconductor Devices Market: The Gallium Nitride (GaN) Semiconductor Devices Market size is estimated to grow by USD 5,257.11 million between 2022 and 2027 exhibiting a CAGR of 24.5%. 

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/gallium-arsenide-components-market---2022-to-2027--the-adoption-of-smartphones-and-tablets-drives-market-growth-301930275.html

SOURCE Technavio