Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global VCSEL Market size is expected to reach $2.7 billion by 2028, rising at a market growth of 13.1% CAGR during the forecast period.
The Single mode segment is showcasing a CAGR of 15.2% during (2022 - 2028). The growth is attributed to the increasing use of mobile applications and the ability of single-mode VCSELs to conserve energy, prolong battery life, and enhance the user experience. Due to their low power consumption, high output, and efficacy, they are employed in mobile phones, wireless laser mice, and mobile industrial applications. In addition, single-mode VCSELs with minimal attenuation allow signals to travel great distances. Hence, the ability to conserve energy and extend battery life, joined with other features, is expected to surge the segment's growth.
The Near Infrared (NIR) segment acquired maximum revenue share in the Global VCSEL Market by Wavelength in 2021 thereby, achieving a market value of $1.4 billion by 2028. The growth is attributed to the usage of a VCSEL as a TOF light source for IR detection and distance measurement which allows enhanced picture quality, a wider viewing angle, and real-time data processing. In addition, VCSELs are a significant enabler for the rapidly expanding market for 3D sensing. The variety of applications that employ 3D sensing technology continues to rise, from Automotive LiDAR to robots' detection of their surroundings to smartphones' facial recognition unlocking.
The Industrial Heating & Laser Printing segment has shown the growth rate of 13.8% during (2022 - 2028). The growth is attributed to its utilization in numerous industrial applications, including industrial heating and processing. Industrial heating uses include plastics welding/forming, composite production, coating drying/curing, printed electronics, selective metal treatment for photovoltaics, and pre-heating for additive manufacturing in 3D printing. Their usage for various purposes is anticipated to drive the segment's expansion during the projected period.
The 10.1 to 25 Gbps segment is leading the Global VCSEL Market by Data Rate in 2021 thereby, achieving a market value of $1.3 billion by 2028. This is due to the fact that 10.1 to 25 Gbps VCSEL is a high-performance laser diode technology which emits light vertically from semiconductor substrates to facilitate quick transmission. Depending on how it will be used, VCSEL can be implemented in either a single-channel or a four-channel configuration. Given that it is more affordable than horizontal-type laser diodes, which produce light from the sides, the VCSEL technology is anticipated to be used in various future applications.
The Indium Phosphide (InP) & Others segment is poised to grow at a CAGR of 14.5% during (2022 - 2028). This is because it possesses faster electron velocity than silicon (Si) and gallium arsenide (GaAs). It has less sheet base resistance and more electron base diffusivity. InP is utilized in high-frequency, high-power electronics. In addition, it can be used with InGaAs to create pseudomorphic HBT that can operate at frequencies up to 604 GHz. Its usage in producing optoelectronic devices and photonic integrated circuits in communications systems, combined with other features, is expected to drive the segment's expansion.
The Consumer Electronics segment is generating highest revenue share in the Global VCSEL Market by Industry in 2021 thereby, achieving a market value of $1.1 billion by 2028. This segment's strong growth rate is credited with the rapid development of digital technologies and the rising demand for consumer electronics products. The demand for VCSELs has increased since VCSELs with cutting-edge capabilities are increasingly integrated into consumer electronics gadgets' laser autofocus and proximity sensors. Features like 3D sensing & face recognition are made possible by VCSELs. They are generally used for 3D sensing and visual imaging in consumer electronics.
The Asia Pacific market dominated the Global VCSEL Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $993.3 million by 2028. The Europe market is exhibiting a CAGR of 12.8% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 12.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/vcsel-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of II-VI, Incorporated, Lumentum Holdings, Inc., ams-OSRAM AG, Broadcom, Inc., Leonardo SpA, MKS Instruments, Inc., TRUMPF GmbH + Co. KG, Santec Corporation, Vertilite Co., Ltd., and TT electronics PLC.
By Data Rate
Unique Offerings from KBV Research
North America VCSEL Market size & Opportunities 2022-2028
Europe VCSEL Market & Growth Forecast 2022-2028
Asia Pacific VCSEL Market Share & Industry Outlook to 2028