VCSEL Industry worth $2.9 billion by 2028
The report "VCSEL Market by Type (Single-mode and Multimode), Material (GaAs, InP, GaN), Wavelength, Application (Sensing, Data Communication, Industrial Heating & Printing, Emerging), Data Rate, Industry and Region - Global Forecast to 2028"The global VCSEL market size is expected to grow from USD 1.6 billion in 2023 to USD 2.9 billion by 2028, at a CAGR of 13.1% during the forecasted period. The major drivers for this market include increase in applications of VCSELs in data communication and the growing adoption of 3D sensing applications in smartphones.
Browse 155 market data Tables and 52 Figures spread through 226 Pages and in-depth TOC on "VCSEL Market by Type (Single-mode and Multimode), Material (GaAs, InP, GaN), Wavelength, Application (Sensing, Data Communication, Industrial Heating & Printing, Emerging), Data Rate, Industry and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/vcsel-market-206588268.html
The VCSEL market dominated by the major Tier I suppliers like Lumentum (US), Coherent Corporation (US), ams-OSRAM (Austria), TRUMPF (Germany), Broadcom (US), Leonardo Electronics (US), MKS Instruments (US), Santec (Japan), VERTILAS (Germany), Vertilite (China), Alight Technologies (Denmark), Inneos (US), IQE (UK), Thorlabs (UK), TT Electronics (UK), Ushio America (US), WIN Semiconductors (Taiwan), and Frankfurt Laser Company (Germany). These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Rest of the World.
Near Infrared wavelength of VCSEL is expected to be emerged as the fastest growing segment during the forecasted period
The majority of VCSELs in the NIR band are made of GaAs material. Major applications of VCSELs in the NIR range are data communication, industrial heating, biomedical, LiDAR, security, and 3D sensing (proximity/depth sensing) in consumer devices for facial & gesture recognition. With the increase in adoption of 3D sensing, time-of-flight, and gesture recognition in new smartphones, the demand for VCSELs operating in NIR is projected to rise significantly in the coming years. Key companies offering VCSELs in the NIR band are Lumentum (US), Broadcom (US), Coherent Corp. (US), and TRUMPF (Germany).
Sensing application is expected to be emerged as the second fastest growing segment in VCSEL market during the forecasted period
VCSELs possess the following characteristics such as high coherence, reliability, flexibility, low-cost packaging options, low power consumption, and long sensing range. This has led to the deployment of VCSELs in 3D imaging and 3D sensing applications in the last five years, and the integration of sensing applications is likely to increase in the coming years, particularly in gaming consoles and consumer electronics.
Military segment is the second fastest segment for VCSEL market during the forecast period
VCSEL technology is still evolving; hence, it is creating several opportunities in the market. VCSELs are greatly used in the military sector due to their low power consumption and narrow and temperature-stable spectrum for atomic clocks, tactical surveillance, and magnetometer applications. In addition, VCSELs are used for LiDAR applications, as they provide high speed for improved resolution in 3D. VCSEL devices can be used for short-range distances in surveillance and obstacle detection as well.
Asia Pacific is likely to be emerge as the fastest growing region during forecasted period
Significant investments in new vehicle technologies, including electric vehicles, LiDAR, and autonomous vehicles, are expected to create a demand for VCSELs. Countries in APAC such as China and South Korea have led to the adoption of 5G communication technology, which would further provide opportunities for the penetration of VCSELs in data communication. Hence, for consumer electronics, the market in APAC is projected to continue to grow as markets in North America and Europe continue to stagnate over time.
The VCSEL market is dominated by the players such as Lumentum (US), Coherent Corporation (US), ams-OSRAM (Austria), TRUMPF (Germany), Broadcom (US), Leonardo Electronics (US), MKS Instruments (US), Santec (Japan), VERTILAS (Germany), Vertilite (China), Alight Technologies (Denmark), Inneos (US), IQE (UK), Thorlabs (UK), TT Electronics (UK), Ushio America (US), WIN Semiconductors (Taiwan), and Frankfurt Laser Company (Germany) among others.
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the VCSEL Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
