The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on VCSEL Market. The growth sectors of the VCSEL Market are identified with precision for a better growth perspective.
Global VCSEL Market 2020 research report by Market Research Future delivers a close watch on leading competitors with strategic analysis. Through this, the study revealed that the global VCSEL market in the future is anticipated to expand at a rate of 17.1% in the forecast period of 2017-2023, with a valuation of USD 4.86 Billion in the same future period. Back in 2018, the market was valued at USD 1.65 Billion.
Top Impacting Factors
In the MRFR study, the growing demand for laser-based hard disc drives does act as a driver to the market. The foremost applications of VCSEL lie in data centers, high-speed communications, precision sensing applications, touch-less sensing, gesture recognition, enterprise networks, and chip-to-chip interconnects been liable for the market’s growth. The other factors accountable for the expansion of the VCSEL market also include the emergent adoption of VCSEL in automotive electronics applications and the rising practice of VCSEL in data communications. The practice of VCSEL also lies in two-dimensional fabrication array making in an individual die with separate light sources, increasing the power output.
A key trend pragmatic in the VCSELs market is the rapid use of 3D sensing and gesture recognition technologies in consumer electronics, which is yet again an imperative factor leading the market growth. Gesture recognition technology has also seen its wide adoption in various consumer goods, such as tablet PCs. The technology enhances touch screen capabilities by permitting users to make gestures at a remote location, irrespective of the device location. VCSELs are meant to be highly suitable for IR illumination applications, as they present numerous advantages that ranges from high-transmission efficiency, low-diverging circular beam, low-cost manufacturing, high reliability, and narrow-emission spectrum. Furthermore, VCSELs are also competent in providing high efficiencies while functioning in harsh environments. Hence, the electronics industry has seen wide adoption of VCSELs with high wavelength stability and could achieve a higher valuation in the forecast period.
Segmentation of Market: Global VCSEL
The global VCSELs market has been segmented based on Type, Material, and End-User segments.
Depending on the type segment, the market has included single-mode and multi-mode.
Depending on material type, the market has included indium phosphide (InP), gallium arsenide (GaAs), gallium nitride (GaN), and others.
Depending on end-user segment, the market has included automotive (driver monitoring, infotainment control, air quality monitoring, LiDAR, and others), consumer electronics (mobile devices & peripherals, face recognition, cameras, and others), industrial (gas sensing, industrial printing, heating systems, and others), healthcare (pulse oximeter, eye tracking, and others), IT & telecom (data communications, active optical cables, and others), and military (surveillance, lidar, and others).
Top Market Players
The top market players in the VCSEL Market are listed as Santec Corporation, Vertilas GmbH, AMS Technologies AG, Vixar Inc, II-VI Inc., IQE PLC, Broadcom Inc., Philips GmbH Photonics, Finisar Corporation, Lumentum Holdings, TT Electronics PLC, Coherent Inc., NeoPhotonics Corporation, Newport Corporation, and Necsel Laser.
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