Gallium-Based Components and Devices: Market Trends, Opportunities and COVID-Recovery Outlook

What Are the Current Market Trends in Gallium-Based Devices?

The market for gallium-based components and devices is exhibiting an upward trajectory due to significant technological advancements and the expanding use in sectors like electronics and medical devices. Indeed, with the increasing adoption of 5G networks, IoT, and artificial intelligence, the demand for gallium arsenide and other gallium-based compounds that provide superior speed and performance compared to silicon is expected to increase.

What Opportunities Exist in the Gallium Components and Devices Segment?

The opportunities in this sector are immense and multidimensional. New product development, tweaks in current product design for performance enhancement, emerging applications in the fields of photonics, high-frequency electronics, and thermophotovoltaic energy conversion systems, among others, are anticipated to unfurl a plethora of opportunities. Further, the market's competitive landscape is also creating a conducive environment for the entry of new players and the growth of existing ones.

How Has COVID-19 Impacted the Gallium-Based Components and Devices Market?

The COVID-19 pandemic initially disrupted the supply chain of the gallium components and devices market due to the closure of manufacturing facilities across the globe. However, the expanded adoption of remote work and digital services during the pandemic fueled the demand for high-speed data transmission and storage devices, thereby invigorating the recovery of this market segment post the initial lockdown period. Going forward, the pandemic is likely to shape new norms and adjustments which would further spur the growth of the gallium-based components and devices market.