FEATURED COMPANIES
- ams AG (Austria)
- II-VI Incorporated (U.S.)
- IQE plc (U.K.)
- Photonwares Co. (U.S.)
- Thorlabs Inc. (U.S.)
- VERTILAS GmbH (Germany)
VCSELs 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 Forecasts to 2029
The research report titled “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 Forecasts to 2029”, provides an in-depth analysis of the VCSELs market and emphasizes the current market trends, market sizes, market shares, recent developments, and forecasts till 2029. 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.
The study offers a comprehensive analysis of the VCSELs market in terms of type (multi-mode VCSELs and single-mode VCSELs), material (Gallium Arsenide (GaAs), Gallium Nitride (GaN), Indium Phosphide (InP), and other materials), application (sensing {3D sensing, gas sensing, and optical mice}, data communication, industrial heating, laser printing, LiDAR, pulse oximetry, and other applications), end user (consumer electronics, IT & telecom, industrial equipment manufacturing, aerospace & defense, healthcare, and automotive), and geography. The study also evaluates industry competitors and analyzes the market at the country level.
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.
The key players operating in the VCSELs market are 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.), and Inneos LLC (U.S.).
The research report titled “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 Forecasts to 2029”, provides an in-depth analysis of the VCSELs market and emphasizes the current market trends, market sizes, market shares, recent developments, and forecasts till 2029. 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.
The study offers a comprehensive analysis of the VCSELs market in terms of type (multi-mode VCSELs and single-mode VCSELs), material (Gallium Arsenide (GaAs), Gallium Nitride (GaN), Indium Phosphide (InP), and other materials), application (sensing {3D sensing, gas sensing, and optical mice}, data communication, industrial heating, laser printing, LiDAR, pulse oximetry, and other applications), end user (consumer electronics, IT & telecom, industrial equipment manufacturing, aerospace & defense, healthcare, and automotive), and geography. The study also evaluates industry competitors and analyzes the market at the country level.
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.
The key players operating in the VCSELs market are 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.), 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, and geography?
- What is the historical market size for the VCSELs market?
- What are the market forecasts and estimates for the period 2022-2029?
- What are the major drivers, restraints, opportunities, and challenges in the VCSELs market?
- Who are the major players operating in the market, and what shares of the market do they hold?
- Who are the major players in various countries?
- How is the competitive landscape for the VCSELs market?
- What are the recent developments in the VCSELs market?
- What are the different strategies adopted by the major players operating in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the VCSELs market, and how do they compete with the other players?
Scope of the Report:
VCSELs Market, by Type
- Multi-mode VCSELs
- Single-mode VCSELs
VCSELs Market, by Material
- Gallium Arsenide
- Gallium Nitride
- Indium Phosphide
- Other Materials
VCSELs Market, by Application
- Sensing
- 3D Sensing
- Gas Sensing
- Optical Mice
- Data Communication
- Industrial Heating
- Laser Printing
- LIDAR
- Pulse Oximetry
- Other Applications
VCSELs Market, by End User
- Consumer Electronics
- IT & Telecom
- Industrial Equipment Manufacturing
- Aerospace & Defense
- Healthcare
- Automotive
VCSELs Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
FEATURED COMPANIES
- ams AG (Austria)
- II-VI Incorporated (U.S.)
- IQE plc (U.K.)
- Photonwares Co. (U.S.)
- Thorlabs Inc. (U.S.)
- VERTILAS GmbH (Germany)
1. Introduction
2. Research methodology
4. COVID-19: Impact Assessment
5. Market Insights
6. Porter’s Five Forces Analysis
8. Recent Technological Advancements in the VCSEL Market
9. Global VCSEL Market, by Type
10. Global VCSEL Market, by Material
11. Global VCSEL Market, by Application
12. Global VCSEL Market, by End User
13. VCSEL Market, by Geography
14. Competitive Landscape
15. Company Profiles
16. Appendix
List of Tables
List of Figures
- 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.).
