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VCSEL Market worth $3.3 billion by 2026

07-09-2021 06:42 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

According to a research report "VCSEL Market with COVID-19 Impact Analysis by Type, Material (GaAs, InP), Wavelength, Application (Sensing, Data Communication, Industrial Heating & Printing, Emerging), Data Rate, Industry, and Region - Global Forecast to 2026", published by MarketsandMarkets the VCSEL market is projected to grow from USD 1.4 billion in 2021 to USD 3.3 billion by 2026; it is expected to grow at a CAGR of 18.8% during the forecast period. Owing to COVID-19, the VCSEL market faced slight headwinds for 2020–2021. VCSELs play an important role in 3D sensing applications in smartphones. Cameras that scan and render objects in 3D have now become a standard feature in high-end smartphones resulting in an increase in the adoption of VCSELs in 3D sensing applications in the market. The increased adoption is creating growth opportunities for manufacturers of wafers, equipment providers, metal-organic chemical vapor deposition (MOCVD) system providers, and foundries, testing & inspection companies; among others. With the entire VCSEL ecosystem is gaining market traction, it is expected to offer growth opportunities during the forecast period.

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Multimode VCSELs to account for a larger share of the VCSEL market in 2021

The multimode VCSEL segment is expected to hold a larger share of the market in 2021. The high market share of this segment was initially due to its increasing use in optical transceivers for high data rate transmission in data centers. As multimode VCSELs offered better modulation over single-mode VCSELs, they witnessed high adoption in data centers. With numerous companies, such as Apple (US), Google (US), and Microsoft (US), investing significantly in the expansion of their data centers globally, multimode VCSELs are projected to hold the largest share during the forecast period.

GaAs based VCSEL segment to dominate the VCSEL market during the forecast period

The GaAs segment is projected to account for the largest market share during the forecast period. Most of the VCSELs used in different applications are manufactured using GaAs material. VCSELs based on GaAs materials are mainly of 850nm wavelength. Datacenter and consumer electronics industry are the two major application areas of GaAs-based VCSELs. GaAs-based VCSELs offer better optical competency than other semiconductor materials and are affordable and available in small footprints. Hence, GaAs-based VCSELs have been successfully mass-produced in significant volumes leading to their large market share as compared to other materials. GaAs-based VCSELs for optical transceivers for data transmission initially paved the way for initial adoption.

Consumer Electronics industry to register the highest share for VCSEL market in 2021

The consumer electronics segment is projected to hold the largest market share throughout the forecast period. The period from 2017 to 2018 witnessed a spike in the market growth with the launch of the Apple iPhone X in November 2017 with the VCSEL module for 3D sensing. Since then, all subsequent releases of iPhone features VCSELs. Recently, other smartphone manufacturers, such as Samsung (South Korea) and Xiaomi (China), have featured VCSELs in their smartphones. Many smartphone companies have already implemented 3D sensing technology in their smartphones, and other companies are projected to follow this trend in the coming years. VCSELs are the most important components for the facial and gesture recognition technologies in smartphones. In addition, VCSELs are used in ToF rear cameras in smartphones, which provides improved image quality. VCSELs in AR/VR devices are also projected to contribute to segment growth in the future as these devices become more mainstream over time.

COVID-19 has led to low demand from end users for consumer electronics, such as smartphones and tablets. However, the impact is not projected to be as severe in other industries. The market for the healthcare and data center segment is projected to be the least impacted. The emergence of COVID-19 has led to an increase in demand for medical equipment, which, in turn, has led to an increase in demand for components, such as VCSELs. The data center is another segment that has been less impacted by COVID-19. Data communication companies have been expanding their data centers throughout 2020, which has led to an increase in demand for VCSEL-based optical transceivers.

Market in North America estimated to have the largest share during the forecast period

The VCSEL market in North America is expected to hold the largest market share in 2021. Major VCSEL players, such as Lumentum (US), II-VI Incorporated (US), and Broadcom (US), are based in North America. Lumentum accounts for a market share of ~50% in the VCSEL market. In North America, the high demand for VCSELs is generated due to its adoption of VCSELs in smartphones. Companies such as Google (US) and Microsoft (US) are expanding their data centers, leading to high demand for VCSELs in data communication applications. The Apple iPhone X encouraged the mass adoption of VCSEL in smartphones for 3D sensing applications in 2017. The region includes the US, which spends a lot on military equipment. These factors have contributed to a large market share for VCSELs in North America.

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Major vendors in the VCSEL market include Lumentum (US), II-VI Incorporated (US), ams (Austria), TRUMPF (Germany), Broadcom (US), Vertilite (China), Coherent (US), Alight Technologies (Denmark), Connector Optics (Russia), VERTILAS (Germany), WIN Semiconductors (Taiwan), IQE (UK), Ricoh (Japan), Fuji Xerox (Japan), MKS Instruments (US), FLIR (US), Santec (Japan), Leonardo Electronics (US), TT Electronics (UK), Ushio America (US), Thorlabs (US), Bandwidth 10 (US), RaySea Technology (China), Inneos (US), Frankfurt Laser Company (Germany), OCTLIGHT (Denmark), Ouster (US), Sanan Integrated Circuit (China), NeoPhotonics (US), Lytek Corporation (US), and OptiGOT (Sweden).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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