The global gallium arsenide (GaAs) components market size is expected to grow by USD 2.38 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Gallium Arsenide Components Market 2020-2024 (Graphic: Business Wire)
The rising demand for data is a crucial factor driving the GaAs components market growth. The consumption of data among consumers, especially through mobile handsets is increasing in several countries. The increasing volume of data consumption results in faster battery drainage. Due to this issue, mobile handset manufacturers require efficient power amplifiers that contain GaAs content. Moreover, to accommodate the increased data consumption (both broadband and mobile data) and ensure proper quality of service, network operators are developing sophisticated wired and wireless networks, architecture, and devices. As GaAs is suitable for such architecture and networks, the demand for GaAs components for network infrastructure expansion will increase, thus leading to the growth of the market over the forecast period.
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As per Technavio, the rapid growth of 3G and 4G networks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Gallium Arsenide Components Market: Rapid Growth of 3G and 4G Networks
The rapid growth of 3G and 4G networks, one of the key GaAs components market trends, will also drive market growth. Developed and emerging nations are increasingly focusing on the deployment of 3G and 4G networks to propel rapid technological advances. The higher adoption of 3G and 4G networks stimulates the demand for GaAs components as the use of GaAs content is crucial for communication devices to be compatible with such networks. For instance, TriQuint offers its proprietary indium gallium phosphide (InGaP)-GaAs high-voltage heterojunction bipolar transistor (HV-HBT) technology to improve the efficiency of 3G and 4G power amplifier applications.
“Factors such as the rising adoption of smartphones and tablets, faster product replacement cycle and increased design complexity will have a significant impact on the growth of the gallium arsenide components market value during the forecast period,” says a senior analyst at Technavio.
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Gallium Arsenide Components Market: Segmentation Analysis
This market research report segments the gallium arsenide components market by application (mobile devices segment and wireless communications segment) and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the gallium arsenide components market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increasing demand for power applications, and high-growth economies.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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