DUBLIN, April 25, 2022 /PRNewswire/ -- The "VCSEL Market by Type (Multi-mode, Single-mode), Material (Gallium Arsenide, Gallium Nitride, Indium Phosphide, Other Materials), Application (Sensing, Data Communication, Industrial Heating, Lidar, Other Applications), End User, and Geography - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The VCSELs market is expected to reach $5.76 billion by 2029, at a CAGR of 26.5% during the forecast period, 2022-2029.
The growth of this market is mainly driven by the increasing utilization of VCSELs in 3D sensing applications and the rising adoption of VCSEL arrays among data centers. However, VCSELs' lack of long-distance transmission capabilities is expected to restrain the growth of this market.
The growing application of VCSELs in vehicle automation and the increasing use of VCSELs in 5G technology are expected to create growth opportunities for the players operating in the VCSELs market. Additionally, scalability issues are expected to remain a major challenge for market growth.
Based on type, the VCSELs market is segmented into multi-mode VCSELs and single-mode VCSELs. The single-mode VCSELs segment is projected to grow at the highest CAGR during the forecast period. VCSELs provide higher power saving capacity, extended battery life and better user experience. These factors and the increasing use of mobile apps are attributed to this segment's growth.
Based on material, the VCSELs market is segmented into Gallium Arsenide (GaAs), Gallium Nitride (GaN), Indium Phosphide (InP), and other materials. The Gallium Arsenide (GaAs) segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the Gallium Arsenide-based VCSELs' capacity to provide high definition and high speed to multimedia applications and the rising demand for GaAs-based VCSELs in the consumer electronics industry.
Based on application, the VCSELs market is segmented into sensing, 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 high growth rate of this segment is mainly attributed to the increasing demand for object detection and face recognition in multimedia apps and advancements in logistics, home & building automation, and Industry 4.0 technologies.
Based on end user, the VCSELs market is segmented into consumer electronics, IT & telecom, industrial equipment manufacturing, aerospace & defense, healthcare, and automotive. The consumer electronics segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the increasing advancements in digital technologies and the growing demand for consumer electronics products worldwide.
Based on geography, the Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The high growth rate of this region is mainly attributed to the largest consumer electronics and automobile market, the proliferation of data centers, and high industrial growth.
China, Japan, South Korea, Taiwan, Malaysia, and Vietnam are some of the key electronics markets globally, holding most production investments. Smartphones being the major application area for VCSELs, the market in Asia-Pacific is bound to grow exponentially over the forecast period.
Key Topics Covered:
2. Research methodology
3. Executive Summary
4. COVID-19: Impact Assessment
4.1. Scenario A: Severe Impact
4.2. Scenario B: Moderate Recovery
4.3. Scenario c: Fast Recovery
5. Market Insights
5.2. Market Dynamics
5.2.1. VCSEL Market: Impact Analysis of Market Drivers
18.104.22.168. Increasing Utilization of VCSELs in 3D Sensing Applications
22.214.171.124. Rising Adoption of VCSEL Arrays Among Data Centers
5.2.2. VCSEL Market: Impact Analysis of Market Restraints
126.96.36.199. VCSELs' Lack of Long-Distance Transmission Capabilities
5.2.3. VCSEL Market: Impact Analysis of Market Opportunities
188.8.131.52. Growing Application of VCSELs in Vehicle Automation
184.108.40.206. Increasing Use of VCSELs in 5G Technology
5.2.4. VCSEL Market: Impact analysis of Market Challenges
220.127.116.11. Scalability Issues
5.3. Value Chain Analysis
6. Porter's Five Forces Analysis
6.2. Bargaining Power of Suppliers
6.3. Bargaining Power of Buyers
6.4. Threat of Substitutes
6.5. Threat of New Entrants
6.6. Degree of Competition
7. Patent Analysis
8. Recent Technological Advancements in the VCSEL Market
8.1. VCSEL Technology with Spectroscopy
8.2. VCSEL in 3D Sensing
8.3. Neuromorphic Photonic Image Processing with VCSEL
8.4. Short-wave Infrared (SWIR)-based Sensing Using VCSEL Technology
8.5. VCSEL in Additive Manufacturing
9. Global VCSEL Market, by Type
9.2. Multi-mode VCSELs
9.3. Single-mode VCSELs
10. Global VCSEL Market, by Material
10.2. Gallium Arsenide
10.3. Gallium Nitride
10.4. Indium Phosphide
10.5. Other Materials
11. Global VCSEL Market, by Application
11.2.1. 3D Sensing
11.2.2. Gas Sensing
11.2.3. Optical Mice
11.3. Data Communication
11.4. Industrial Heating
11.5. Laser Printing
11.7. Pulse Oximetry
11.8. Other Applications
12. Global VCSEL Market, by End User
12.2. Consumer Electronics
12.3. IT & Telecom
12.4. Industrial Equipment Manufacturing
12.5. Aerospace & Defense
13. VCSEL Market, by Geography
14. Competitive Landscape
14.2. Key Growth Strategies
14.3. Market Share Analysis (2021)
14.3.1. Lumentum Holdings Inc.
14.3.2. ams AG
14.3.3. TRUMPF GmbH + Co. KG
14.3.4. II-VI Incorporated
14.3.5. Broadcom Inc.
15. Company Profiles
Lumentum Holdings Inc. (U.S.)
II-VI Incorporated (U.S.)
ams AG (Austria)
Broadcom Inc. (U.S.)
TRUMPF GmbH + Co. KG (Germany)
Santec Corporation (Japan)
IQE plc (U.K.)
VERTILAS GmbH (Germany)
Vertilite Co. Ltd (China)
Teledyne FLIR LLC (U.S.)
Thorlabs Inc. (U.S.)
Leonardo S.p.A. (Italy)
TT Electronics plc (U.K.)
Photonwares Co. (U.S.)
Inneos LLC (U.S.).
For more information about this report visit https://www.researchandmarkets.com/r/9w9tbr
Research and Markets
Laura Wood, Senior Manager
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