DUBLIN--(BUSINESS WIRE)--Jun 9, 2021--
The "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" report has been added to ResearchAndMarkets.com's offering.
The VCSEL (vertical-cavity surface-emitting laser) market is expected to grow at a CAGR of 21.5% from 2020 to 2027 to reach $3,732.3 million by 2027. 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.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report features the impact analysis of the key industry drivers, restraints, and opportunities. Factors such as the adoption of VCSEL for 3D-sensing applications and the growing use of VCSEL in data centers are boosting the demand for VCSEL. However, the short-distance data-transmission range of VSCEL and scalability issues are factors expected to hinder the growth of this market.
Based on type, the VCSEL market is segmented into multi-mode VCSEL and single-mode VCSEL. In 2020, the multi-mode VCSEL segment accounted for the largest revenue share of the VCSEL market. Multi-mode VCSELs are used by data centers for high-speed data transmission over short distances. Multi-mode VCSEL technology can support future in-house distribution networks by connecting various end users. Due to their compact size, high performance, and high reliability, many industries are adopting multi-mode VCSELs for use in their products.
Based on material, the VCSEL market has been segmented into Gallium Arsenide, Gallium Nitride, Indium Phosphide, and other materials. The Gallium Arsenide segment is projected to record the highest CAGR during the forecast period due to the advantages offered, including low threshold current and power consumption and a small divergence angle, due to which its demand is rapidly increasing for 3D sensing, LiDAR, and 5G, among other applications.
Based on application, the VCSEL market has been 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 record the highest CAGR during the forecast period, followed by the LiDAR segment.
This is because VCSEL is extensively used for 3D-sensing applications in consumer electronics such as smartphones and wearables and in the automotive sector for in-cabin sensing and infotainment control. The sensing segment is also expected to hold the largest revenue share of the market.
Based on end user, the market has been segmented into consumer electronics, IT & telecom, industrial, aerospace & defense, healthcare, and automotive. The consumer electronics segment is expected to record the highest CAGR during the forecast period due to the rapid adoption of VCSEL by several major smartphone manufacturers such as Apple, Huawei, Oppo, and Xiaomi, for facial recognition and gesture recognition applications.
The VCSEL market in Asia-Pacific is projected to record the highest CAGR during the forecast period. The rapid growth of this regional market is mainly attributed to the presence of the largest consumer electronics market and the largest automobile market, the proliferation of data centers, and high industrial growth in the APAC region.
- Increasing Utilization of VCSELs in 3D Sensing Applications
- Growing Use of VCSEL Arrays among Data Centers
- Lack of Long-Distance Transmission Range
- Growing VCSELs Applications in Vehicle Automation
- Growing Utilization of VCSELs in 5G Technology
- Scalability Issues
Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
- 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.)
- Inneos LLC (U.S.).
For more information about this report visit https://www.researchandmarkets.com/r/akbioz
View source version on businesswire.com:https://www.businesswire.com/news/home/20210609005718/en/
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PUB: 06/09/2021 12:18 PM/DISC: 06/09/2021 12:18 PM