Vertical Cavity Surface Emitting Laser (VCSEL) Market 2023-2028 | Business Growth, Report and Forecast
The latest research study “Vertical Cavity Surface Emitting Laser (VCSEL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global vertical cavity surface emitting laser (VCSEL) market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 17.4% during 2023-2028.
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A vertical cavity surface emitting laser (VCSEL) refers to a semiconductor-based laser diode that emits extremely efficient optical beams perpendicular to the surface of the substrate. It is used as a transmitter in optical fiber communications due to its high-frequency modulation capability. It is widely used in battery-powered devices as VCSEL with a laser mouse provides high tracking accuracy and minimal electricity consumption. Since it has high output power, VCSEL is gaining immense traction in compact global positioning system (GPS) devices and miniature optical clocks across the globe.
Vertical Cavity Surface Emitting Laser (VCSEL) Market Trends and Drivers:
The vertical cavity surface emitting laser (VCSEL) market is primarily driven by the escalating demand for the miniaturization of electronic devices and the increasing product adoption in consumer electronics. Moreover, the surging use of VSCEL in data centers due to the widespread adoption of advanced technologies, such as virtual and augmented reality (VR/AR), Internet of Things (IoT), and artificial intelligence (AI) that increases data traffic rates, is positively influencing the market growth.
Additionally, there has been a rise in the use of VCSEL to deliver high-resolution, larger displays and thin profiles for high-speed data cables connecting a screen to remotely located electronics. In line with this, the rising product use in the automotive sector to manufacture several sensing applications, such as driver fatigue detection and facial and gesture recognition, has catalyzed the market growth.
Furthermore, the increasing use of biometric systems in numerous organizations and the rising number of security breaches are contributing to market growth. Other factors, including increasing product utilization in light detection and ranging (LIDAR) technology, rising medical diagnostic applications, and the emerging trend of self-driving cars, are also anticipated to create a favorable market outlook.
Global Vertical Cavity Surface Emitting Laser (VCSEL) Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Vertical Cavity Surface Emitting Laser Companies:
ams AG, Broadcom Inc., II-VI Incorporated, Inneos LLC, IQE Plc, Leonardo Electronics US Inc., Lumentum Operations LLC, Teledyne FLIR LLC (Teledyne Technologies Incorporated), The TRUMPF Group, TT Electronics Plc, Vertilas GmbH and Vertilite Inc.
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The report has segmented the market on the basis of region, type, material, wavelength, application and end use industry.
Breakup by Type:
- Multi-mode VCSEL
- Single-mode VCSEL
Breakup by Material:
- Gallium Arsenide
- Gallium Nitride
- Indium Phosphide
Breakup by Wavelength:
- Red (650-750 nm)
- Near-infrared (750-1400 nm)
- Shortwave-infrared (1400-3000 nm)
Breakup by Application:
- Data Communication
- Industrial Heating
- Laser Printing
- Pulse Oximetry
Breakup by End Use Industry:
- Mobile and Consumer
- Aerospace and Defense
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Source : VCSEL Market to Grow at 17.4% CAGR From US$ 1.7 Billion in 2022 to US$ 4.5 Billion by 2028