Gallium Arsenide Wafer Market SWOT Analysis, Future Trends, and Forecast Report, 2027
Market Analysis The global GaAs wafer market is projected to touch USD 1224.3 million at a healthy 12% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Gallium arsenide or GaAs, simply put, is a semiconductor compound of two elements- gallium and arsenic. It is a product that is produced after smelting zinc and aluminium. It has wide applications in aerospace and defense, optoelectronic devices, wireless communication, photovoltaic devices, mobile devices, and others. Various factors are propelling the global Gallium Arsenide Wafer Market share. According to the recent MRFR report, such factors include the increasing adoption of 4G & 5G network, growing demand for smartphone manufacturers, burgeoning demand for smartphones, photovoltaic devices, laptops, and digital cameras, extended battery life, more economical and efficient than silicon, better scalability, compatibility, and functionality with IoT network, and growing demand f...