The global the VCSEL market was valued at US$ 1.43 Bn in 2021. The growing use of VCSELs in 3D sensing applications and VCSEL arrays by data centers are the primary factors boosting the growth of VCSEL market. Moreover, the increasing use of VCSELs in vehicle automation and 5G technology provides significant growth opportunities for VCSEL market participants. Improved initiatives by major companies to produce technologically advanced VCSEL devices are expected to further drive market growth. For instance, on 05 April 2022, TRUMPF Photonic Components, a multinational company of VCSEL and photodiode solutions, introduced new advanced VCSEL solutions to broaden its portfolio for 3D sensing in consumer and industrial applications. The new generation 940 nm VCSEL arrays enable breakthrough improvements in various functionalities while maintaining high-reliability performance, such as a long product lifetime over a wide temperature range. The new VCSEL generation produces better results in advanced optical applications such as proximity sensing, laser autofocus applications, and sensing under OLED displays. According to initial customer feedback, the new generation is also the ideal light source for advanced industrial and automotive time-of-flight applications.
Multi-mode Segment is expected to be the Fastest-Growing Segment over the Forecast Period 2022 - 2030
Data centres use multi-mode VCSELs for high-speed data transmission over short distances. Multi-mode VCSEL technology has the potential to support future in-house distribution networks by connecting various end-users; these factors are expected to drive the demand for VCSEL market. Due to their small size, multimode VCSELs are ideal for use in highly integrated sensors. Furthermore, Lumentum Operations LLC offers Vertical cavity surface-emitting laser (VCSEL) at 850 nm wavelength for 25G NRZ operation in short reach multimode fibre (MMF) applications.
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The automotive segment is expected to be the Fastest-Growing Segment over the Forecast Period in the Global VCSEL market
In recent decades, there has been an increase in the demand for VCSEL in the automotive industry for driver monitoring systems (DMS) and adaptive cruise control (ACC). With advanced driver assistance systems (ADAS), automotive applications are continuing to evolve. Inside the vehicle, infrared light is used to monitor the driver and passengers, and the demand for this type of light source changes with the evolution of each application. The primary growth drivers of VCSEL are LiDAR, in-cabin monitoring/driver monitoring, and gesture recognition. Furthermore, Lumentum Operations LLC developed an automotive-grade high-power 940 nm vcsel array for a variety of applications such as vehicle interior monitoring, driver assistance, and gesture recognition and control.
The Impact of the COVID-19 Pandemic on the Global VCSEL Market
The World Health Organization (WHO) declared a pandemic of a novel coronavirus disease (COVID-19), caused by the severe acute respiratory syndrome coronavirus 2. Increasing cases of covid in pandemic are driving demand for highly advanced medical devices in the medical sector, such as pulse oximeters. In the fight against COVID-19, VCSEL light sources will help meet the increased demand for high-quality pulse oximeters. VCSEL light sources, which penetrate deeper into the skin than LEDs, allow more accurate measurements for oximetry applications. VCSELs have a narrower spectral linewidth emission, a 4X smaller shift in wavelength with temperature, and an order of magnitude lower power consumption, which is driving for the market growth. Also, similar initiatives by organizations to adapt more efficiently to shifting market situations bode well for the global VCSEL market over the forecast period.
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Asia Pacific Region is expected to fastest-growing region in the VCSEL market over the forecast period, primarily driven by the presence of major manufacturers in this region
The Asia Pacific consumer electronics sector is huge, with countries such as China, Japan, and South Korea, which is the leading producer and end-users of consumer products. South Korea is a major producer of portable consumer electronics, whereas China is a producer and a consumer electronics. Countries in APAC, such as China and South Korea, have led in the implementation of 5G communication technology, which will create additional chances for VCSEL penetration in data communication. Furthermore, the increase in storage volume requirements as data volumes grow is being driven mostly by emerging technologies such as artificial intelligence (AI), big data, and the Internet of things (IoT).
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The key market participants operating in the global VCSEL market are:
- Agiltron Inc.
- ams-OSRAM AG
- Broadcom
- II-VI Incorporated
- Inneos LLC
- IQE PLC
- Leonardo
- Lumentum Operations LLC
- ROHM CO., LTD.
- Santec Corporation
- STANLEY ELECTRIC CO., LTD.
- Teledyne FLIR LLC
- Thorlabs, Inc.
- TRUMPF
- TT Electronics plc
- VERTILAS GmbH
- Vertilite
- Other Market Participants
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Global VCSEL Market
By Type
- Single
- Multi-mode
By Application
- Sensing and Gesture Recognition
- Facial Recognition and Imaging
- Autonomous driving
- Data Communication
- Industrial Heating
- Lidar and Ranging
- Others
By Wavelength
- 760nm
- 850nm
- 940nm
- 980nm
- Others
By Industry
- IT and Telecommunication
- Aerospace and Defence
- Data Centers
- Consumer Electronics
- Automotive
- Healthcare
- Industrial Manufacturing
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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- Market Determinants and Influencing Factors
- Macro-Economic and Micro-Economic Indicators
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Trends on Global VCSEL Market
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- Market Share Analysis, 2021
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