VCSEL for Data Communication Market Revenue to Cross US$ 1,135.68 Mn by 2027: The Insight Partners

According to our latest market study on "VCSEL for data communication Market to 2027 - COVID-19 Impact and Global Analysis and Forecast -by Type (Single Mode, Multi-Mode); Material (Gallium Nitride, Gallium Arsenide, Indium Phosphide, Other), and Geography," the market was valued at US$ 284.05 millionin 2019 and is projected to reach US$ 1,135.68millionby 2027; it is expected to grow at a CAGR of 19.7% from 2020 to 2027.The report highlights the key factors driving the market growth, and prominent players and their developmentsin the market.

The global VCSEL for data communication market comprises numerous companies specializing in broad range of offerings. However, strong presence of companies manufacturing electronics and their subsequent components, as well as parts,in Asia has empowered the region to hold the largest share of the overall market. Further, APAC is expected to continue to retain its market leadership in the coming years. In addition, the operation of a large number of manufacturing facilities of consumer electronics, data center,and fiber optics-related products across Asia, especially in China, has been contributing to the notable share of the region in the global market.

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Globally, the market comprises numerous market players specializing in broad range of business offerings pertaining to the VCSEL related solutions for data communication. However, the strong presence of electronics manufacturing and their subsequent components as well as parts in the Asian region has contributed significantly in the region's leading VCSEL for Data Communication market share in the overall global market. Furthermore, the region is expected to continue to maintain its market leadership through the coming period.

Geographically, the global market was dominated by the Asia-Pacific region owing to notable presence several market players operating in the market along with regional presence of numerous other globally present market players. In addition to this, the substantial availability of manufacturing facilities for the end-user industries such as consumer electronics, industrial, data center & fiber optics related products across the Asian especially the Chinese region has facilitated in the notable market share of the region in the overall global market.

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Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'VCSEL for Data Communication Market' provides the analysis on impact on Covid-19 on business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

Based on type, the VCSEL for data communication market is segmented into single mode and multi-mode. The multi-mode segment is anticipated to dominate the VCSEL market during the forecast period. These VCSELs are widely used for high data rate transmission over short distance. Further, these are used for high power 3D ToF (time of flight camera) sensing, industrial, and LiDAR applications. The rising number of technologies and companies, including Apple, Google, and Microsoft, are investing considerably in the expansion of their data centers worldwide, which, in turn is expected to propel the demand for multimode VCSELs during the forecast period.

Based on material, the VCSEL for the data communication market is segmented into Gallium Nitride (GaN), Gallium Arsenide (GaAs), Indium Phosphide (InP), and Others. The GaAs segment led the market in 2019. The rising demand for Gallium Arsenide is attributed to its increased usage in data communication owing to its most vital benefit, i.e., speed. Electrons travel nearly five times faster in gallium arsenide compared to silicon. Also, GaAs offers high resistance to electrical current before it is doped with any impurities. InP is one of the most developed platform for photonic integrated circuits. The advancement in InP applications, as well as demand for high performance VCSEL technology, are projected to generate potential growth opportunities for the VCSEL for the data communication market.

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