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Meticulous Research®—leading global market research company published a research report titled “VCSEL Market by Type (Multi-mode VCSEL, Single-mode VCSEL), Material, Application, End User (Consumer Electronics, IT & Telecom, Industrial, Aerospace & Defense, Healthcare, Automotive), and Geography—Global Forecast to 2027.”
According to this latest publication from Meticulous Research, the VCSEL (vertical-cavity surface-emitting laser) market is projected to reach $3.73 billion by 2027, growing at a CAGR of 21.5% during the forecast period. The VCSEL market in terms of volume is estimated to grow at a CAGR of 31.9% from 2020 to 2027 to reach 3,854.3 million units by 2027 from 556.0 million units in 2020. This market is majorly driven by the adoption of VCSEL for 3D-sensing applications and the growing use of VCSEL in data centers. The growing adoption of VCSEL for 3D-sensing applications in the consumer electronics sector and in the automotive sector for facial and gesture recognition, in-cabin sensing, and infotainment control contributes to the market’s growth. VCSEL-based optical transceivers enhance intra-datacenter connectivity, improving the overlapping of carriers and optical modes, thus driving its use in data centers. However, the short-distance data-transmission range of VSCEL and scalability issues are factors expected to hamper the growth of this market to some extent. Factors such as the application of VCSEL in vehicle automation and the growing incorporation of VCSEL in emerging technologies are also expected to create opportunities for the growth of the VCSEL market.
The VCSEL market study presents historical market data in terms of value (2019), estimated current data (2020), and forecasts for 2027. The market is segmented by type (multi-mode VCSEL and single-mode VCSEL), material (Gallium Arsenide, Gallium Nitride, Indium Phosphide, and other materials), application (sensing [3D sensing, gas sensing, and optical mice], data communication, industrial heating, laser printing, LiDAR, pulse oximetry, and other applications), and end user (consumer electronics, IT & telecom, industrial, aerospace & defense, healthcare, and automotive). The study also evaluates industry competitors and analyzes the market at the country level.
Based on type, the VCSEL market is segmented into multi-mode VCSEL and single-mode VCSEL. The single-mode VCSEL segment is expected to grow at the higher CAGR during the forecast period. Single-mode VCSEL is mainly used to save power for longer battery life and to improve user experience. It is used in mobile phones, wireless laser mice, and mobile industry applications due to its low power consumption, high power output, and high efficiency. However, the multi-mode VCSEL segment is estimated to account for the larger revenue share of the VCSEL market in 2020.
Based on material, the VCSEL market is segmented into Gallium Arsenide, Gallium Nitride, Indium Phosphide, and other materials. The Gallium Arsenide segment is expected to record the highest CAGR during the forecast period. Gallium Arsenide is used by most of the VCSEL companies globally. Due to its high definition and high speed in multimedia applications, the demand for Gallium Arsenide has increased in the consumer electronics space. The material’s low threshold current, power consumption, and small divergence angle have boosted the growth of the Gallium Arsenide segment.
Based on application, the VCSEL market is segmented into sensing (3D sensing, gas sensing, and optical mice), data communication, industrial heating, laser printing, LiDAR, pulse oximetry, and other applications. The sensing segment is expected to grow at the highest CAGR during the forecast period. The growing number of smartphone users has accelerated the adoption of VCSEL in 3D sensing applications such as facial recognition, biometrics, and object recognition. The sensing segment is also expected to account for the largest revenue share in 2020.
Based on end user, the VCSEL market is segmented into consumer electronics, IT & telecom, industrial, aerospace & defense, healthcare, and automotive. In 2020, the consumer electronics segment is expected to record the highest CAGR. The use of VCSEL with advanced features in laser autofocus and proximity sensors in consumer electronics devices has created huge opportunities for the growth of the VCSEL market. VCSEL serves applications such as 3D sensing, facial recognition, camera fill light, and smart wearables.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (France, Germany, Italy, U.K., and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2020, the Asia-Pacific VCSEL market is poised to grow at the highest CAGR due to the presence of a large number of consumer electronics and automotive players in the region. Singapore and Malaysia are a few of the many countries that hold vast opportunities for the VCSEL market players. Singapore ranked second globally for autonomous vehicle readiness, following the Netherlands. Furthermore, many businesses are relocating to Southeast Asia, making it a hotbed for global data centers. These factors are expected to drive market growth in this region significantly. However, North America is estimated to account for the largest revenue share in the VCSEL market.
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The key players operating in the VCSEL market are Lumentum Operations LLC (U.S.), II-VI Incorporated (U.S.), ams AG (Austria), Broadcom (U.S.), TRUMPF (Germany), Osram Opto Semiconductors GmbH (Germany), IQE PLC (U.K.), VERTILAS GmbH (Germany), Vertilite (China), FLIR Systems, Inc. (U.S.), Thorlabs, Inc. (U.S.), Leonardo S.p.A. (Italy), TT Electronics (U.K.), Photonwares Co. (U.S.), and Inneos LLC (U.S.).
Key Questions Answered in the Report-
- Which are the high-growth market segments in terms of type/material/application/end user/region?
- What was the historical market size for VCSEL globally?
- What are the market forecasts and estimates for 2020–2027?
- What are the major drivers, restraints, opportunities, and challenges in the global VCSEL market?
- Who are the major players in the VCSEL market?
- How is the competitive landscape and who are the market leaders in the global VCSEL market?
- What are the recent developments in the global VCSEL market?
- What are the various strategies adopted by the major players in the global VCSEL market?
- What are the geographical trends and high-growth regions/countries?
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