The report provides a market analysis of the GaAs wafer and epiwafer markets from 2019 to 2025. It forecasts that the GaAs wafer market will increase from $200 million in 2019 to $348 million in 2025, with the largest application segments being RF, photonics, and LED. The open epiwafer market is also analyzed, with IQE and VPEC together comprising almost 80% of the $262 million total market in 2019. Key drivers of growth are discussed for various applications such as 5G adoption for RF and increasing use of VCSELs for 3D sensing and LiDAR.

1. 2020
Sample
From Technologies to Markets
GaAs Wafer and Epiwafer
MarketVersion 2020
RF, Photonics, LED,
Display and PV
Applications
Market and Technology
Report 2020

2. 2
ABOUTTHE AUTHORS
Biographies & contacts
Dr. Ezgi Dogmus is Technology & Market Analyst in the Power & Telecom Division at Yole, contributing to the development of compound
semiconductor activities with a dedicated collection of market & technology reports as well as custom consulting projects. Prior to Yole, Ezgi was
involved in the development of GaN-based solutions at IEMN (Lille, France). Ezgi also participated in numerous international conferences and has
authored or co-authored more than 12 papers. After graduating from University of Augsburg (Germany) and Grenoble Institute of Technology
(France), Dr Dogmus received her PhD in Microelectronics at IEMN (France).
Email: ezgi.dogmus@yole.fr
Ezgi DOGMUS
Ahmed BEN-SLIMANE
Dr. Ahmed Ben Slimane is Technology & Market Analyst, Compound Semiconductors at Yole Développement (Yole). As part of the Power &
Telecom team, Ahmed is engaged in the development of a dedicated collection of market & technology reports and dedicated monitor. Previously, he
worked as an epitaxy (MBE/MOCVD) & fabrication process engineer for GaAs based photovoltaic applications at TOTAL and IPVF (Paris-Saclay,
France). Ahmed also completed his PhD in Material Engineering from KAUST (Saudi Arabia). Ahmed obtained his Master’s in Electronics Engineering
from INPG (Grenoble, France)
E-mail:ahmed.ben-slimane@yole.fr
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

3. 3
 Glossary 2
 Table of contents 4
 Objectives and scope of the report 7
 Methodologies & definitions 8
 About the authors 9
 Companies cited in this report 10
 What we got right, what we got wrong 11
 Yole group of companies related reports 12
 Executive summary 15
 Context 62
o Definitions
o Evolution of GaAs substrate and applications
o What’s new?
 Market forecasts 68
o Comparison with previous version and other reports
o GaAs market in 2019: segment analysis
o Covid-19 impact: three scenarios
o GaAs wafer market forecast: covid-19 impact
o GaAs open epiwafer market forecast:covid-19 impact
o Comparison of market forecast (version 2018 vs version 2020)
o Total GaAs epiwafer market: open and captive market forecast
o RF GaAs wafer: volume & market size forecast
o Handset PA GaAs wafer: volume & market size forecast
o Photonics GaAs wafer and epiwafer: volume & market size forecast
o LED GaAs wafer: volume & market size forecast
TABLE OF CONTENTS (I/III)
o Display GaAs wafer: volume & market size forecast
o PV GaAs wafer: volume & market size forecast
o GaAs wafer ASP for 6-inch ($)
o GaAs epiwafer ASP for 6-inch ($)
 Market trends 104
o RF
• Front-end and connectivity definitions
• Standard evolution: beyond high quality video, real time
applications
• Mobile market by air standard
• RF front-end architecture:what is the impact of 5G?
• Case study: total die size of PA in iPhones.
• Main Wi-Fi / Bluetooth architecture
• Telecom infrastructure - From passive antennas to active
antennas
• Other RF applications: how will market penetration rate
evolve?
o Photonics
• VCSEL and EEL applications overview
• 3D sensing technology trend
• VCSEL die size (dot projector)
• Automotive – EEL andVCSEL based systems
• Telecom and infrastructure
• Market growth drivers
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

4. 4
o LED
• IR LED and visible ROY LED applications overview
• Horticultural lighting applications
• Automotive lighting applications
• Historical perspective
• Recent and future trends
• Market growth drivers
o Display
• LED, MiniLED & MicroLED applications overview
• Major applications
• Direct view LED displays – Technology trend
• Application trends
• MiniLED’s two major applications: where is GaAs used?
• MiniLED die size evolution
• Recent progress and remaining roadblocks
• Epiwafer and wafer forecast key hypothesis
• Two technical approaches: where is GaAs used?
• GaAs based red microLED challenges
o PV
• Photovoltaic technologies and applications overview
• HCPV at a glance
• Space solar cells overview
• Emerging market overview
• Material PV market share
• GaAs PV market outlook
TABLE OF CONTENTS (II/III)
 Market and application summary 180
o GaAs applicative market – key drivers
o How mature is each GaAs application? (As of 2020)
o What is the competition that faces GaAs technology?
 Market shares and supply chain 184
o Industry supply chain GaAs RF
o Industry supply chain GaAs photonic
o Industry supply chain GaAs LED
o Industry supply chain GaAs miniLED/microLED
o Industry supply chain GaAs PV
o GaAs RF - Process technology comparison of major players
o GaAs RF - Power amplifier, LNA, and switch supply chain
o GaAs RF capacity estimate (6’’ wafer per year): Q1 2020
o GaAs Epi houses: players’ classifications by application
o GaAs Epi houses: landscape of GaAs VCSEL Epi - Existing players and
potential new entrants
o GaAs Photonic open epiwafer market: focus on VCSEL market: supply
and demand discussion
o Open Epiwafer players’ market share estimates in 2019: photonic
market
o Open Epiwafer players’ market share estimates in 2019: RF market
o Open Epiwafer players’ market share estimates in 2017 vs 2019
o Estimated market share of GaAs wafer suppliers in 2017 and 2019
o GaAs substrate suppliers' profiles: Freiberger, Sumitomo Electric, AXT,
Vital materials
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

5. 5
 Technology trends 220
o Device
• GaAs based components overview
• Power vs frequency characteristics
• Overview ofVCSEL, EEL and LED
• Overview of LED, MiniLED & MicroLED
• Single-junction and multi-junction GaAs solar cells
• Device cost hypothesis and estimate 6” wafer equivalent ($)
• Take away messages from device technology
o Epiwafer
• Epitaxial growth methods
• Focus onVCSEL epi on 6-inch wafer
• MBE vs MOCVD
• Epitaxy requirements: focus on MicroLED
• Discussion on epitaxy structures
• Toward low cost GaAs solar cells (HVPE)
• Take away messages from epiwafer technology
o Wafer
• Manufacturing of GaAs substrates
• GaAs substrate growth evolution
• Wafer growth methods
• LEC vs.VGF
• Key finished wafer manufacturing steps
• GaAs substrate size evolution
• EPD vs substrate size
TABLE OF CONTENTS (III/III)
• Conclusions and outlook 252
o RF market
o Photonic market
o LED market
o Display market
o PV market
o Open epiwafer market
o Wafer market
o Impact of covid-19
o Supply chain
o Technology
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

6. 6
Provide a clear understanding of both the GaAs wafer and epiwafer markets, with wafer and epiwafer
market size and forecast in $M and Munits.
Analysis and description of the applicative markets:
• RF
• Photonics
• LED
• Display
• PV
Identification and analysis of the ecosystem:
• Determine market dynamics
• Key players by market and market share analysis
Status of GaAs wafer, epiwafer and device technologies:
• Technical description and state of the art
This report does NOT include the GaAs device level market.
OBJECTIVESAND SCOPE OFTHE REPORT
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out of scope of this
report?
Contact us for a custom study:
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

7. 7
METHODOLOGIES & DEFINITIONS
Market
Volume (in Munits)
ASP (in $)
Revenue (in $M)
Yole’s market forecast model is based on the matching of several sources:
Information
Aggregation
Preexisting
information
End system data is from
Yole’s internal data base
April 2020.
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

8. 8
SCOPE OF THE REPORT
• VCSELs
• EELs
• Photo diodes
Light emitting
diodes
• ROY LEDs
• IR LEDs
Photovoltaics
• Single junction
solar cells
• Multi junction
solar cells
Radio frequency
electronics
• PAs
• Switches and others
• LEDs
• MiniLEDs
• MicroLEDs
• GaAs wafer and epiwafers are used for different kinds of devices for different applications.
• ROY: red orange yellow
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

9. 9
GaAsWAFER MARKET FORECAST SPLIT BY APPLICATION
Overview 2019-2025
GaAs wafer
market will
increase from
$200M in
2019 to
$348M in
2025.
$73M
2019
$200M
2025
$348M
RF
LED
Photonics
Display
PV
$68M
$32M
$24M
$3M
$98M
CAGR +5%
$96M
CAGR +6%
$90M
CAGR +19%
$61M
CAGR +17%
CARG2019-2025
+10%
$3M
CAGR +1%
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

10. 10
GaAs PHOTONICS -VCSEL MARKET
Market growth drivers
Time
Technology
adoption
1st growth driver
2nd growth driver
3rd growth driver
4th growth driver
Datacom
Optical mice
3D sensing
Proximity sensor
LiDAR
In-cabin monitoring
Additive manufacturing
20141996 2020 2023
Acceleration :The speed of technology change accelerates.
Market
revenue
Low
High
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

11. 11
GaAs OPEN EPIWAFER MARKET –TOTAL MARKET
Open Epiwafer players’ market share estimates in 2017 vs 2019
IQE andVPEC
together have
almost 80% of
the market.
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020
IQE
53%
VPEC
26%
Total
$262M
Sumitomo
Chemicals
8%
Intelliepi
4%
II-IV
3%
Landmark
2%
Others
4%

12. 12
GaAsWAFER: WAFER MARKET ($M)
Covid-19 impact: three possible scenarios
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

13. 13
GaAsWAFERAND EPIWAFER:VOLUME & MARKET SIZE FORECAST
and more!
GaAs Wafer and Epiwafer Market: RF, Photonics, LED, Display and PV Applications 2020 | Sample | www.yole.fr | ©2020

14. 14
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2020
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15. 15
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16. 16About Yole Développement | www.yole.fr | ©2020
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