VCSEL Market by Type (Single-mode and Multimode), Material (GaAs, InP, GaN), Wavelength, Application (Sensing, Data Communication, Industrial Heating & Printing, Emerging), Data Rate, Industry and Region - Global Forecast to 2028
VCSEL Market by Type (Single-mode and Multimode), Material (GaAs, InP, GaN), Wavelength, Application (Sensing, Data Communication, Industrial Heating & Printing, Emerging), Data Rate, Industry and Region - Global Forecast to 2028
Abstract
The global VCSEL market is projected to grow from USD 1.6 billion in 2023, to USD 2.9 billion by 2028, at a CAGR of 13.6% between 2023 and 2028. One of the factors driving the growth of the VCSEL market high preference for adopting 3D sensing technologies, and integration of the Internet of Things (IoT) across buildings, utilities, manufacturing, logistics, retail, and healthcare.
VCSELs are made of gallium arsenide (GaAs) and indium phosphide (InP) with single-mode and multimode functionality. VCSELs are highly efficient and cost-effective for applications, such as data communication, industrial heating, and 3D sensing & gesture recognition. They are widely used in consumer electronics, data centers, automobiles, commercial & industrial applications, as well as healthcare and military industries.
"VCSEL for red wavelength is the second largest segment of VCSEL market during the forecast period”
Red VCSELs offer benefits, such as improved performance and low power consumption, and are used in applications that include laser printing, optical mouse, and low-cost, high-speed interconnects based on plastic optical fiber (POF). However, material design challenges make it more difficult to achieve the desired performance than at the well-developed wavelength of 850 nm. Ams-OSRAM (Austria) is one of the market players offering VCSELs in the red band segment.
“Emerging and other application segment is the fastest growing segment of VCSEL market during forecast period”
This segment includes VCSELs for emerging applications, such as LiDAR, driver monitoring/gesture recognition, 3D sensing in vehicles, security & night vision systems/cameras, pulse oximeter, and OCT. The growth in the emerging and other application segments is closely tied to the use of VCSELs in automotive LiDARs. For instance, in August 2020, automotive LiDAR specialist Ibeo Automotive Systems (Germany) announced that it would deploy VCSELs in LiDAR for ‘Level 3’ semi-autonomous driving in cars built by the automotive manufacturer Great Wall Motors (China). Hence, VCSEL-based solid-state LiDAR systems show great potential as the next evolution in LiDAR technology, which can replace traditional bulky and expensive mechanical spinning and microelectromechanical systems (MEMs) that are currently in use. The size of VCSELs also makes it easier to integrate photonic and electronic components in a LiDAR system. These factors are projected to contribute to the high growth rate of emerging and other applications.
“Above 25 Gbps segment is the fastest growing segment of VCSEL market by 2028”
With the growing adoption of 5G network and smart city developments, data traffic is increasing at a significant rate. This is increasing the connectivity load on data centers, wherein a faster data transmission medium for a short distance is required. Hence, many hyperscale data center operators, such as Facebook (US), Apple (US), Microsoft (US), Amazon (US), and Google (US), as well as government institutions, are focusing on the adoption of high-speed transceivers and AOCs, which operate at 100G, 200G, and 400G data rates. These optical transceivers initially used edge-emitting lasers (EELs) that are now being quickly replaced by VCSELs. VCSELs capable of 25 Gbps data rate are the most widely deployed type due to their lower cost. However, it is expected that VCSELs with data rates above 25 Gbps will be adopted at a faster rate due to the increase in traffic on data communications worldwide.
“Automotive segment is the fastest growing application of VCSEL market by 2028”
Surge in the adoption of VCSELs in automobiles for driver monitoring and infotainment systems results in the high growth in the automotive segment for VCSEL market. VCSELs are finding increased applications in systems, such as advanced driver assistance systems (ADAS), due to the evolution of autonomous vehicles. . LiDAR is one of the latest technology used in automotive safety developments and solutions that are being used to make solid-state LiDARs using VCSELs. Thisevolution toward the adoption of autonomous vehicles in the long term is projected to drive the growth of the automotive segment.
“North America is the second fastest growing market for VCSEL market by 2028”
North America is one of the major markets for VCSELs due to applications, such as consumer electronics, data centers, and commercial & industrial segments. Lumentum (US), II-VI Incorporated (US), and Broadcom (US) are some of the major players operating in this region. Chipmakers and OEM buyers of VCSELs are expected to face the impacts of the recession and the resultant decrease in demand for consumer electronics such as laptops, PCs, and smartphones. These factors are likely to lead to a decline in the growth of the VCSEL market in 2023. The market is expected to register moderate growth in the next 2–3 years in North America.
Breakdown of the profiles of primary participants:
•By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
•By Designation: C-level Executives - 40%, Directors - 40%, and Others - 20%
•By Region: North America - 40%, Europe - 30%, Asia Pacific - 20%, and RoW - 10%
The VCSEL market is dominated by a few globally established players such as Lumentum (US), Coherent Corporation (US), ams-OSRAM (Austria), TRUMPF (Germany), Broadcom (US), Leonardo Electronics (US), MKS Instruments (US), Santec (Japan), VERTILAS (Germany), Vertilite (China), Alight Technologies (Denmark), Inneos (US), IQE (UK), Thorlabs (UK), TT Electronics (UK), Ushio America (US), WIN Semiconductors (Taiwan), and Frankfurt Laser Company (Germany).
Research Coverage
The report segments the VCSEL market and forecasts its size, by value and volume, based on region (Asia Pacific, Europe, North America, and RoW), type (multi-mode, single mode), wavelength (red, NIR, SWIR), material (GaAs, InP, other), data rate, application, and industry (consumer electronics, data center, automotive, commercial & industrial, healthcare, and military).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the VCSEL market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the VCSEL market and provides them information on key market drivers, restraints, challenges, and opportunities.
Content
Table of Contents
1INTRODUCTION27
1.1STUDY OBJECTIVES27
1.2MARKET DEFINITION27
1.2.1INCLUSIONS AND EXCLUSIONS28
1.3STUDY SCOPE29
FIGURE 1VCSEL MARKET: SEGMENTATION29
1.3.1YEARS CONSIDERED30
1.4CURRENCY CONSIDERED30
1.5UNITS CONSIDERED30
1.6STAKEHOLDERS30
1.7LIMITATIONS31
1.8SUMMARY OF CHANGES31
2RESEARCH METHODOLOGY32
2.1RESEARCH DATA32
FIGURE 2VCSEL MARKET: RESEARCH DESIGN32
2.1.1SECONDARY AND PRIMARY RESEARCH33
2.1.1.1Key industry insights34
2.1.2SECONDARY DATA34
2.1.2.1List of key secondary sources34
2.1.2.2Key data from secondary sources35
2.1.3PRIMARY DATA35
2.1.3.1Breakdown of primaries36
2.1.3.2Key data from primary sources37
2.2MARKET SIZE ESTIMATION37
2.2.1BOTTOM-UP APPROACH38
2.2.1.1Approach to arrive at market size using bottom-up analysis (demand side)38
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH39
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE)— DEMAND FOR VCSELS39
2.2.2TOP-DOWN APPROACH40
2.2.2.1Approach to obtain market size using top-down analysis (supply side)40
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH40
FIGURE 6MARKET SIZE ESTIMATION METHODOLOGY: (SUPPLY-SIDE)—IDENTIFICATION OF REVENUES GENERATED BY COMPANIES FROM VCSEL MARKET41
2.3MARKET BREAKDOWN AND DATA TRIANGULATION42
FIGURE 7DATA TRIANGULATION42
2.4RESEARCH ASSUMPTIONS43
2.4.1ASSUMPTIONS43
2.5PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION43
2.5.1RISK ASSESSMENT44
3EXECUTIVE SUMMARY45
3.1RECESSION IMPACT ANALYSIS45
FIGURE 8GDP GROWTH PROJECTION TILL 2023 FOR MAJOR ECONOMIES46
FIGURE 9RECESSION IMPACT ON VCSEL MARKET46
FIGURE 10MULTIMODE SEGMENT TO CAPTURE HIGHER MARKET SHARE IN 202347
FIGURE 11GAAS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD48
FIGURE 12NIR SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD48
FIGURE 1310.1 TO 25 GBPS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD49
FIGURE 14EMERGING AND OTHER APPLICATIONS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD49
FIGURE 15AUTOMOTIVE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD50
FIGURE 16VCSEL MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD51
4PREMIUM INSIGHTS52
4.1ATTRACTIVE OPPORTUNITIES FOR VCSEL MARKET PLAYERS52
FIGURE 17ADVANTAGES OF SOLID-STATE TECHNOLOGY, COMPACT DESIGN, AND ROBUSTNESS TO DRIVE VCSEL MARKET52
4.2VCSEL MARKET, BY TYPE52
FIGURE 18MULTIMODE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD52
4.3VCSEL MARKET, BY MATERIAL53
FIGURE 19GAAS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD53
4.4VCSEL MARKET, BY WAVELENGTH53
FIGURE 20NIR SEGMENT TO CAPTURE LARGEST MARKET SHARE DURING 2023–202853
4.5VCSEL MARKET, BY DATA RATE54
FIGURE 2110.1 TO 25 GBPS SEGMENT TO DOMINATE MARKET DURING 2023–202854
4.6VCSEL MARKET, BY APPLICATION54
FIGURE 22SENSING APPLICATION TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD54
4.7NORTH AMERICA: VCSEL MARKET, BY INDUSTRY AND COUNTRY55
FIGURE 23CONSUMER ELECTRONICS AND US TO BE LARGEST SHAREHOLDERS OF VCSEL MARKET IN NORTH AMERICA IN 202855
4.8VCSEL MARKET, BY COUNTRY55
FIGURE 24VCSEL MARKET TO RECORD HIGHEST CAGR IN ASIA PACIFIC IN 202855
5MARKET OVERVIEW56
5.1INTRODUCTION56
5.2MARKET DYNAMICS56
FIGURE 25IMPACT OF DRIVERS ON VCSEL MARKET56
FIGURE 26IMPACT OF OPPORTUNITIES ON VCSEL MARKET57
FIGURE 27IMPACT OF RESTRAINTS AND CHALLENGES ON VCSEL MARKET57
5.2.1DRIVERS58
5.2.1.1Growing adoption of 3D sensing applications in smartphones58
5.2.1.2Increasing application of VCSELs in data communication58
5.2.1.3Increased market investment for VCSEL manufacturing58
5.2.2RESTRAINTS59
5.2.2.1Limited data transmission range59
5.2.2.2Limitations of semiconductor materials hampering performance of VCSELs59
5.2.3OPPORTUNITIES59
5.2.3.1Use of VCSELs in LiDAR systems for automotive applications59
5.2.3.2Growing IoT market and data processing across commercial and government sectors60
5.2.3.3Growing adoption of VCSELs in consumer electronic devices60
5.2.4CHALLENGES60
5.2.4.1Manufacturing defects in VCSELs60
5.2.4.2Recession impact on smartphone market61
5.3TARIFFS AND REGULATIONS61
5.3.1TARIFF RELATED TO VCSELS61
5.4REGULATIONS62
5.4.1GLOBAL62
5.4.1.1International Electrotechnical Commission (IEC)62
5.4.2EUROPE62
5.4.2.1Restriction of Hazardous Substances (RoHS)62
5.4.2.2European Standards (EN)62
5.4.3US63
5.4.3.1American National Standards Institute (ANSI)63
5.4.3.2Food and Drug Administration (FDA)64
5.5CASE STUDY ANALYSIS64
5.5.1AMS-OSRAM PROVIDED VCSEL ARRAY FOR USE IN XIAOMI MI8 EXPLORER EDITION64
5.5.2OSRAM AND CHRONOPTICS COOPERATED ON DEVELOPMENT OF 3D TOF CAMERA KIT64
5.5.3AMBARELLA, LUMENTUM, AND ON-SEMICONDUCTOR COLLABORATED ON AI PROCESSING-BASED 3D SENSING FOR NEXT-GEN AIOT DEVICES65
5.5.4LUMENTUM SHOWCASED PHOTONIC SOLUTIONS AT ECOC 202065
5.5.5LEONARDO ELECTRONICS OFFERS LIDAR SYSTEMS LEVERAGING COMPANY VCSELS65
5.5.6ALIGHT TECHNOLOGIES DEVELOPING 10 GBPS 1,300 NM VCSEL65
5.5.7INNEOS DEVELOPED VCSELS FOR USE IN SATELLITES65
5.5.8IQE REACHED KEY MILESTONES WITH IQDN-VCSEL TECHNOLOGY65
5.5.9WIN SEMICONDUCTORS SUPPLIES VCSELS TO APPLE66
5.6AVERAGE SELLING PRICE OF VCSELS FOR VARIOUS END PRODUCTS66
TABLE 1ASP OF VCSELS USED IN VARIOUS END PRODUCTS66
FIGURE 28AVERAGE SELLING PRICE FORECAST OF VCSELS, 2020–2026 (USD)66
TABLE 2AVERAGE SELLING PRICE FORECAST OF VCSELS, 2020–2026 (USD)67
5.7VALUE CHAIN ANALYSIS68
FIGURE 29VALUE CHAIN ANALYSIS OF VCSEL ECOSYSTEM: R&D AND MANUFACTURING PHASES CONTRIBUTE MAXIMUM VALUE68
5.8ECOSYSTEM/MARKET MAP70
FIGURE 30VCSEL MARKET ECOSYSTEM70
5.8.1MANUFACTURERS70
5.8.2SUPPLIERS70
5.8.3DISTRIBUTORS71
5.8.4OEMS71
5.9TECHNOLOGY ANALYSIS71
5.9.1KEY TECHNOLOGIES71
5.9.1.13D camera71
5.9.1.2LiDAR71
5.9.2ADJACENT TECHNOLOGY72
5.9.2.1Edge emitter lasers (EELs)72
5.10TECHNOLOGY ANALYSIS72
5.10.1NEW MATERIALS USED IN MANUFACTURING OF VCSELS72
5.10.2MINIATURIZATION OF VCSELS72
5.10.3UNDER-DISPLAY VCSELS72
5.11PATENT ANALYSIS73
FIGURE 31PATENT APPLICATION TRENDS FOR VCSELS, 2016–202075
5.12TRADE DATA75
5.12.1TRADE DATA FOR HS CODE 85414075
TABLE 3IMPORT DATA FOR HS CODE 854140, BY COUNTRY, 2016–2020 (USD BILLION)76
TABLE 4EXPORT DATA FOR HS CODE 854140, BY COUNTRY, 2016–2020 (USD BILLION)76
5.13PORTER’S FIVE FORCES ANALYSIS77
TABLE 5VCSEL MARKET: PORTER’S FIVE FORCES ANALYSIS77
5.13.1INTENSITY OF COMPETITIVE RIVALRY77
5.13.2BARGAINING POWER OF SUPPLIERS77
5.13.3BARGAINING POWER OF BUYERS77
5.13.4THREAT OF SUBSTITUTES78
5.13.5THREAT OF NEW ENTRANTS78
5.14VCSEL MARKET: SUPPLY CHAIN78
5.15TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS79
FIGURE 32REVENUE SHIFTS FOR VCSEL MARKET79
6VCSEL FABRICATION METHODS80
6.1INTRODUCTION80
6.2SELECTIVE OXIDIZATION80
6.2.1LEADS TO PRODUCTION OF STRONG ELECTRICAL AND OPTICAL CONFINEMENT80
6.3ION IMPLANTATION80
6.3.1PROVIDES HIGHLY CONTROLLED APERTURE THAT LEADS TO HIGHER AND MORE STABLE PRODUCTIVITY OF VCSELS80
7APPLICATIONS OF VCSEL TECHNOLOGY IN SMARTPHONES81
7.1INTRODUCTION81
7.2DOT PROJECTOR81
7.2.1ENABLES FACIAL RECOGNITION FEATURE IN SMARTPHONES81
7.3TIME-OF-FLIGHT (TOF)81
7.3.1TOF MODULES USE VCSELS TO RELEASE INFRARED LIGHT81
7.3.2PROXIMITY SENSING82
7.4FLOOD ILLUMINATOR82
7.4.1VCSELS USED BY FLOOD ILLUMINATORS TO PROJECT INFRARED LIGHT USED TO ILLUMINATE FACE OF USERS82
8VCSEL MARKET, BY TYPE83
8.1INTRODUCTION84
FIGURE 33MULTIMODE SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD84
TABLE 6VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)84
TABLE 7VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)84
8.2SINGLE-MODE85
8.2.1SINGLE-MODE VCSELS USED FOR LOW-POWER APPLICATIONS85
TABLE 8SINGLE-MODE: VCSEL MARKET, BY MATERIAL, 2018–2022 (USD MILLION)85
TABLE 9SINGLE-MODE: VCSEL MARKET, BY MATERIAL, 2023–2028 (USD MILLION)85
TABLE 10SINGLE-MODE: VCSEL MARKET, BY WAVELENGTH, 2018–2022 (USD MILLION)86
TABLE 11SINGLE-MODE: VCSEL MARKET, BY WAVELENGTH, 2023–2028 (USD MILLION)86
8.3MULTIMODE86
8.3.1MULTIMODE VCSELS USED FOR HIGH-POWER APPLICATIONS86
TABLE 12MULTIMODE: VCSEL MARKET, BY MATERIAL, 2018–2022 (USD MILLION)86
TABLE 13MULTIMODE: VCSEL MARKET, BY MATERIAL, 2023–2028 (USD MILLION)87
TABLE 14MULTIMODE: VCSEL MARKET, BY WAVELENGTH, 2018–2022 (USD MILLION)87
TABLE 15MULTIMODE: VCSEL MARKET, BY WAVELENGTH, 2023–2028 (USD MILLION)87
9VCSEL MARKET, BY WAVELENGTH88
9.1INTRODUCTION89
FIGURE 34NIR SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD89
TABLE 16VCSEL MARKET, BY WAVELENGTH, 2018–2022 (USD MILLION)89
TABLE 17VCSEL MARKET, BY WAVELENGTH, 2023–2028 (USD MILLION)89
9.2RED90
9.2.1VCSELS IN RED BAND HAVE WAVELENGTHS IN BETWEEN 650 NM AND 750 NM90
TABLE 18RED: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)90
TABLE 19RED: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)90
9.3NEAR-INFRARED (NIR)91
9.3.1VCSELS IN NIR BAND HAVE WAVELENGTHS BETWEEN 750 NM AND 1,400 NM91
TABLE 20NIR: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)91
TABLE 21NIR: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)91
9.4SHORTWAVE INFRARED (SWIR)92
9.4.1VCSELS IN SWIR BAND HAVE WAVELENGTHS BETWEEN 1,400 NM AND 3,000 NM92
TABLE 22SWIR: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)92
TABLE 23SWIR: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)92
10VCSEL MARKET, BY MATERIAL93
10.1INTRODUCTION94
FIGURE 35GAAS-BASED VCSEL TO DOMINATE MARKET DURING FORECAST PERIOD94
TABLE 24VCSEL MARKET, BY MATERIAL, 2018–2022 (USD MILLION)94
TABLE 25VCSEL MARKET, BY MATERIAL, 2023–2028 (USD MILLION)94
10.2GALLIUM ARGESIDE (GAAS)95
10.2.1GAAS-BASED VCSELS TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD95
TABLE 26GAAS: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)95
TABLE 27GAAS: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)95
10.3INDIUM PHOSPHIDE (INP)96
10.3.1MORE EXPENSIVE THAN GAAS DUE TO MATERIAL COSTS AND SMALL WAFER SIZE96
TABLE 28INP: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)96
TABLE 29INP: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)96
10.4OTHERS97
10.4.1VCSELS IN THE SWIR BAND HAVE WAVELENGTH BETWEEN 1,400 NM AND 3,000 NM97
TABLE 30OTHERS: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)97
TABLE 31OTHERS: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)97
11VCSEL MARKET, BY APPLICATION98
11.1INTRODUCTION99
FIGURE 36SENSING SEGMENT TO HOLD LARGEST SHARE OF VCSEL MARKET DURING FORECAST PERIOD99
TABLE 32VCSEL MARKET, BY APPLICATION, 2018–2022 (USD MILLION)99
TABLE 33VCSEL MARKET, BY APPLICATION, 2023–2028 (USD MILLION)100
11.2SENSING100
11.2.13D SENSING101
11.2.1.1ToF camera101
11.2.1.1.1Proximity sensing101
11.2.1.1.1.1Proximity sensing widely used in smartphones101
11.2.1.2Structured light illumination101
11.2.1.2.1Increasing adoption of face recognition technologies in smart devices to create lucrative opportunities101
11.2.1.3Facial & gesture recognition102
11.2.1.3.1Increase in adoption of biometric technologies in smart devices to drive market102
11.2.2GAS SENSING102
11.2.2.1Single-mode VCSELs used for gas sensing in industrial environments102
11.2.3OPTICAL MICE102
11.2.3.1VCSEL-based optical mouse enables operations on various surfaces102
11.3DATA COMMUNICATION102
11.3.1OPTICAL TRANSCEIVERS & ACTIVE OPTICAL CABLES103
11.3.1.1Growing adoption of high data rate optical components in data centers to propel market103
11.4INDUSTRIAL HEATING & LASER PRINTING103
11.4.1ADDITIVE MANUFACTURING103
11.4.1.1VCSEL heating reduces thermal gradient in additive manufacturing103
11.4.2LASER PRINTING104
11.4.2.1Laser printing requires low-cost, single-mode VCSELs104
11.5EMERGING & OTHER APPLICATIONS104
11.5.1LIDAR104
11.5.1.1Developments in autonomous vehicles to create opportunities for applications of VCSELs in automotive LiDARs104
11.5.2IN-CABIN SENSING104
11.5.2.1Innovations in vehicle infotainment systems to boost demand for VCSELs104
11.5.3ATOMIC CLOCK & GPS105
11.5.3.1VCSELs make for compact and low-cost solutions for use in atomic clocks105
11.5.4MAGNETOMETER105
11.5.4.1Highly accurate detection of magnetic fields made possible with use of VCSEL-based magnetometers105
11.5.5INFRARED ILLUMINATION FOR SURVEILLANCE105
11.5.5.1VCSELs improve performance and visibility in security & surveillance applications105
11.5.6PULSE OXIMETRY106
11.5.6.1VCSELs provide benefits of narrower spectral linewidth emission for pulse oximetry applications106
12VCSEL MARKET, BY DATA RATE107
12.1INTRODUCTION108
FIGURE 37ABOVE 25 GBPS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD108
TABLE 34VCSEL MARKET FOR DATA COMMUNICATION, BY DATA RATE, 2018–2022 (USD MILLION)108
TABLE 35VCSEL MARKET FOR DATA COMMUNICATION, BY DATA RATE, 2023–2028 (USD MILLION)109
12.2UP TO 10 GBPS109
12.2.1VCSELS WITH DATA RATES UP TO 10 GBPS USED IN DATA COMMUNICATION APPLICATIONS109
TABLE 36VCSELS WITH DATA RATE UP TO 10 GBPS110
12.310.1 TO 25 GBPS110
12.3.1VCSELS WITH DATA RATE OF 10.1 TO 25 GBPS DOMINATED MARKET IN 2022110
TABLE 37VCSELS WITH DATA RATE OF 10.1 TO 25 GBPS111
12.4ABOVE 25 GBPS111
12.4.1VCSELS WITH DATA RATE ABOVE 25 GBPS TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD111
TABLE 38VCSELS WITH DATA RATE ABOVE 25 GBPS112
13VCSEL MARKET, BY INDUSTRY113
13.1INTRODUCTION114
FIGURE 38CONSUMER ELECTRONICS INDUSTRY TO BE LARGEST SHAREHOLDER OF VCSEL MARKET DURING FORECAST PERIOD114
TABLE 39VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)114
TABLE 40VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)115
13.2CONSUMER ELECTRONICS116
13.2.1CONSUMER ELECTRONICS HELD DOMINANT MARKET SHARE IN 2022116
TABLE 41CONSUMER ELECTRONICS: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)116
TABLE 42CONSUMER ELECTRONICS: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)116
TABLE 43CONSUMER ELECTRONICS: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)117
TABLE 44CONSUMER ELECTRONICS: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)117
TABLE 45CONSUMER ELECTRONICS: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)117
TABLE 46CONSUMER ELECTRONICS: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)118
TABLE 47CONSUMER ELECTRONICS: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)118
TABLE 48CONSUMER ELECTRONICS: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)118
TABLE 49CONSUMER ELECTRONICS: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD MILLION)119
TABLE 50CONSUMER ELECTRONICS: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD MILLION)119
13.3DATA CENTER119
13.3.1INCREASE IN DATA BANDWIDTH IN DATA CENTERS TO DRIVE DEMAND FOR VCSELS119
TABLE 51DATA CENTER: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)120
TABLE 52DATA CENTER: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)120
TABLE 53DATA CENTER: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)120
TABLE 54DATA CENTER: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)121
TABLE 55DATA CENTER: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)121
TABLE 56DATA CENTER: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)121
TABLE 57DATA CENTER: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)122
TABLE 58DATA CENTER: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)122
TABLE 59DATA CENTER: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD MILLION)122
TABLE 60DATA CENTER: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD MILLION)123
13.4AUTOMOTIVE123
13.4.1ADOPTION OF VCSELS IN AUTOMOTIVE LIDAR TO BOOST MARKET IN REST OF THE WORLD123
TABLE 61AUTOMOTIVE: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)123
TABLE 62AUTOMOTIVE: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)124
TABLE 63AUTOMOTIVE: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD THOUSAND)124
TABLE 64AUTOMOTIVE: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD THOUSAND)124
TABLE 65AUTOMOTIVE: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD THOUSAND)125
TABLE 66AUTOMOTIVE: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD THOUSAND)125
TABLE 67AUTOMOTIVE: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD THOUSAND)125
TABLE 68AUTOMOTIVE: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD THOUSAND)126
TABLE 69AUTOMOTIVE: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD THOUSAND)126
TABLE 70AUTOMOTIVE: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD THOUSAND)126
13.5COMMERCIAL & INDUSTRIAL127
13.5.1ADOPTION OF VCSELS ACROSS VARIOUS INDUSTRIAL APPLICATIONS TO FAVOR MARKET127
TABLE 71COMMERCIAL & INDUSTRIAL: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)127
TABLE 72COMMERCIAL & INDUSTRIAL: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)128
TABLE 73COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)128
TABLE 74COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)128
TABLE 75COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)129
TABLE 76COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)129
TABLE 77COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)129
TABLE 78COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)130
TABLE 79COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD THOUSAND)130
TABLE 80COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD THOUSAND)130
13.6HEALTHCARE131
13.6.1VCSELS USED FOR SCANNING AND IMAGING APPLICATIONS IN HEALTHCARE INDUSTRY131
TABLE 81HEALTHCARE: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)131
TABLE 82HEALTHCARE: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)131
TABLE 83HEALTHCARE: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)132
TABLE 84HEALTHCARE: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)132
TABLE 85HEALTHCARE: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)132
TABLE 86HEALTHCARE: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)133
TABLE 87HEALTHCARE: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)133
TABLE 88HEALTHCARE: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)133
TABLE 89HEALTHCARE: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD THOUSAND)134
TABLE 90HEALTHCARE: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD THOUSAND)134
13.7MILITARY134
13.7.1VCSELS USED FOR TACTICAL SURVEILLANCE AND OBSTACLE DETECTION IN MILITARY TASKS134
TABLE 91MILITARY: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)134
TABLE 92MILITARY: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)135
TABLE 93MILITARY: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)135
TABLE 94MILITARY: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)135
TABLE 95MILITARY: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)136
TABLE 96MILITARY: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)136
TABLE 97MILITARY: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)136
TABLE 98MILITARY: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)137
TABLE 99MILITARY: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD THOUSAND)137
TABLE 100MILITARY: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD THOUSAND)137
14VCSEL MARKET, BY REGION138
14.1INTRODUCTION139
FIGURE 39VCSEL MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD139
TABLE 101VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)139
TABLE 102VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)140
14.2NORTH AMERICA140
14.2.1RECESSION IMPACT ON NORTH AMERICA140
FIGURE 40NORTH AMERICA: VCSEL MARKET SNAPSHOT141
TABLE 103NORTH AMERICA: VCSEL MARKET, BY COUNTRY, 2018–2022 (USD MILLION)141
TABLE 104NORTH AMERICA: VCSEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION)142
TABLE 105US: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)142
TABLE 106US: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)142
TABLE 107CANADA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)143
TABLE 108CANADA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)143
TABLE 109MEXICO: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)143
TABLE 110MEXICO: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)144
14.2.2US144
14.2.2.1US to dominate global VCSEL market during forecast period144
14.2.3CANADA144
14.2.3.1Data communication applications to drive market144
14.2.4MEXICO145
14.2.4.1Automotive industry to provide opportunities for market growth145
14.3EUROPE145
14.3.1RECESSION IMPACT ON EUROPE145
FIGURE 41EUROPE: VCSEL MARKET SNAPSHOT146
TABLE 111EUROPE: VCSEL MARKET, BY COUNTRY, 2018–2022 (USD MILLION)146
TABLE 112EUROPE: VCSEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION)147
TABLE 113UK: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)147
TABLE 114UK: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)147
TABLE 115GERMANY: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)148
TABLE 116GERMANY: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)148
TABLE 117FRANCE: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)148
TABLE 118FRANCE: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)149
TABLE 119REST OF EUROPE: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)149
TABLE 120REST OF EUROPE: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)149
14.3.2GERMANY150
14.3.2.1Germany to hold largest share of VCSEL market in Europe during forecast period150
14.3.3UK150
14.3.3.1Consumer electronics and communications sectors to drive market in UK150
14.3.4FRANCE150
14.3.4.1Demand from automotive industry to substantiate market growth150
14.3.5REST OF EUROPE150
14.4ASIA PACIFIC151
14.4.1RECESSION IMPACT ON ASIA PACIFIC151
FIGURE 42ASIA PACIFIC: VCSEL MARKET SNAPSHOT152
TABLE 121ASIA PACIFIC: VCSEL MARKET, BY COUNTRY, 2018–2022 (USD MILLION)152
TABLE 122ASIA PACIFIC: VCSEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION)153
TABLE 123CHINA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)153
TABLE 124CHINA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)153
TABLE 125JAPAN: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)154
TABLE 126JAPAN: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)154
TABLE 127SOUTH KOREA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)154
TABLE 128SOUTH KOREA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)155
TABLE 129REST OF ASIA PACIFIC: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)155
TABLE 130REST OF ASIA PACIFIC: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)155
14.4.2CHINA156
14.4.2.1China to account for largest share of VCSEL market in Asia Pacific during forecast period156
14.4.3JAPAN156
14.4.3.1Demand from consumer electronics and data center verticals to drive VCSEL market156
14.4.4SOUTH KOREA156
14.4.4.1VCSEL market in South Korea dominated by consumer electronics and telecommunications industries156
14.4.5REST OF ASIA PACIFIC157
14.5REST OF THE WORLD157
14.5.1RECESSION IMPACT ON REST OF THE WORLD157
TABLE 131REST OF THE WORLD: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)157
TABLE 132REST OF THE WORLD: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)157
TABLE 133SOUTH AMERICA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)158
TABLE 134SOUTH AMERICA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)158
TABLE 135MIDDLE EAST & AFRICA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)158
TABLE 136MIDDLE EAST & AFRICA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)159
14.5.2SOUTH AMERICA159
14.5.2.1South America to hold larger share of VCSEL market in RoW during forecast period159
14.5.3MIDDLE EAST AND AFRICA159
14.5.3.1VCSEL market in Middle East & Africa at nascent stage159
15COMPETITIVE LANDSCAPE160
15.1OVERVIEW160
15.2STRATEGIES ADOPTED BY KEY PLAYERS160
TABLE 137OVERVIEW OF STRATEGIES DEPLOYED BY VCSEL MANUFACTURERS160
15.2.1PRODUCT PORTFOLIO160
15.2.2REGIONAL FOCUS160
15.2.3MANUFACTURING FOOTPRINT161
15.2.4ORGANIC/INORGANIC GROWTH STRATEGIES161
15.3MARKET SHARE ANALYSIS: VCSEL MARKET, 2022161
TABLE 138DEGREE OF COMPETITION, 2022161
15.4FIVE-YEAR COMPANY REVENUE ANALYSIS162
FIGURE 43FIVE-YEAR REVENUE ANALYSIS OF TOP FOUR PLAYERS IN VCSEL MARKET162
15.5COMPANY EVALUATION QUADRANT162
15.5.1STARS162
15.5.2EMERGING LEADERS163
15.5.3PERVASIVE PLAYERS163
15.5.4PARTICIPANTS163
FIGURE 44VCSEL COMPANY EVALUATION QUADRANT, 2022164
15.5.5COMPANY FOOTPRINT165
TABLE 139OVERALL COMPANY FOOTPRINT165
TABLE 140COMPANY PRODUCT TYPE FOOTPRINT166
TABLE 141COMPANY INDUSTRY FOOTPRINT167
TABLE 142COMPANY REGION FOOTPRINT168
15.6START-UP/SME EVALUATION MATRIX169
TABLE 143LIST OF START-UP/SME COMPANIES IN VCSEL MARKET169
15.6.1PROGRESSIVE COMPANIES170
15.6.2RESPONSIVE COMPANIES170
15.6.3DYNAMIC COMPANIES170
15.6.4STARTING BLOCKS170
FIGURE 45VCSEL MARKET, START-UP/SME EVALUATION MATRIX, 2022171
15.7COMPETITIVE SCENARIOS AND TRENDS172
15.7.1PRODUCT LAUNCHES172
TABLE 144PRODUCT LAUNCHES, 2019–2022172
15.7.2DEALS175
TABLE 145DEALS, 2019–2022175
16COMPANY PROFILES178
16.1KEY PLAYERS178
(Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats)*
16.1.1COHERENT CORP.178
TABLE 146COHERENT: BUSINESS OVERVIEW178
FIGURE 46COHERENT: COMPANY SNAPSHOT179
16.1.2LUMENTUM184
TABLE 147LUMENTUM: BUSINESS OVERVIEW184
FIGURE 47LUMENTUM: COMPANY SNAPSHOT185
16.1.3AMS-OSRAM188
TABLE 148AMS-OSRAM: BUSINESS OVERVIEW188
FIGURE 48AMS-OSRAM: COMPANY SNAPSHOT189
16.1.4TRUMPF193
TABLE 149TRUMPF: BUSINESS OVERVIEW193
FIGURE 49TRUMPF: COMPANY SNAPSHOT194
16.1.5BROADCOM197
TABLE 150BROADCOM: BUSINESS OVERVIEW197
FIGURE 50BROADCOM: COMPANY SNAPSHOT198
16.1.6MKS INSTRUMENTS200
TABLE 151MKS INSTRUMENTS: BUSINESS OVERVIEW200
FIGURE 51MKS INSTRUMENTS: COMPANY SNAPSHOT201
16.1.7SANTEC203
TABLE 152SANTEC: BUSINESS OVERVIEW203
FIGURE 52SANTEC: COMPANY SNAPSHOT204
16.1.8LEONARDO ELECTRONICS206
TABLE 153LEONARDO ELECTRONICS: BUSINESS OVERVIEW206
16.1.9VERTILAS208
TABLE 154VERTILAS: BUSINESS OVERVIEW208
16.1.10VERTILITE209
TABLE 155VERTILITE: BUSINESS OVERVIEW209
16.2OTHER KEY PLAYERS210
16.2.1ALIGHT TECHNOLOGIES210
16.2.2TELEDYNE FLIR211
16.2.3INNEOS212
16.2.4IQE213
16.2.5THORLABS214
16.2.6TT ELECTRONICS215
16.2.7USHIO AMERICA216
16.2.8WIN SEMICONDUCTORS217
16.2.9FRANKFURT LASER COMPANY218
16.2.10INPHENIX, INC.218
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
17APPENDIX219
17.1DISCUSSION GUIDE219
17.2KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL223
17.3CUSTOMIZATION OPTIONS225
17.4RELATED REPORTS225
17.5AUTHOR DETAILS226
VCSELs are made of gallium arsenide (GaAs) and indium phosphide (InP) with single-mode and multimode functionality. VCSELs are highly efficient and cost-effective for applications, such as data communication, industrial heating, and 3D sensing & gesture recognition. They are widely used in consumer electronics, data centers, automobiles, commercial & industrial applications, as well as healthcare and military industries.
"VCSEL for red wavelength is the second largest segment of VCSEL market during the forecast period”
Red VCSELs offer benefits, such as improved performance and low power consumption, and are used in applications that include laser printing, optical mouse, and low-cost, high-speed interconnects based on plastic optical fiber (POF). However, material design challenges make it more difficult to achieve the desired performance than at the well-developed wavelength of 850 nm. Ams-OSRAM (Austria) is one of the market players offering VCSELs in the red band segment.
“Emerging and other application segment is the fastest growing segment of VCSEL market during forecast period”
This segment includes VCSELs for emerging applications, such as LiDAR, driver monitoring/gesture recognition, 3D sensing in vehicles, security & night vision systems/cameras, pulse oximeter, and OCT. The growth in the emerging and other application segments is closely tied to the use of VCSELs in automotive LiDARs. For instance, in August 2020, automotive LiDAR specialist Ibeo Automotive Systems (Germany) announced that it would deploy VCSELs in LiDAR for ‘Level 3’ semi-autonomous driving in cars built by the automotive manufacturer Great Wall Motors (China). Hence, VCSEL-based solid-state LiDAR systems show great potential as the next evolution in LiDAR technology, which can replace traditional bulky and expensive mechanical spinning and microelectromechanical systems (MEMs) that are currently in use. The size of VCSELs also makes it easier to integrate photonic and electronic components in a LiDAR system. These factors are projected to contribute to the high growth rate of emerging and other applications.
“Above 25 Gbps segment is the fastest growing segment of VCSEL market by 2028”
With the growing adoption of 5G network and smart city developments, data traffic is increasing at a significant rate. This is increasing the connectivity load on data centers, wherein a faster data transmission medium for a short distance is required. Hence, many hyperscale data center operators, such as Facebook (US), Apple (US), Microsoft (US), Amazon (US), and Google (US), as well as government institutions, are focusing on the adoption of high-speed transceivers and AOCs, which operate at 100G, 200G, and 400G data rates. These optical transceivers initially used edge-emitting lasers (EELs) that are now being quickly replaced by VCSELs. VCSELs capable of 25 Gbps data rate are the most widely deployed type due to their lower cost. However, it is expected that VCSELs with data rates above 25 Gbps will be adopted at a faster rate due to the increase in traffic on data communications worldwide.
“Automotive segment is the fastest growing application of VCSEL market by 2028”
Surge in the adoption of VCSELs in automobiles for driver monitoring and infotainment systems results in the high growth in the automotive segment for VCSEL market. VCSELs are finding increased applications in systems, such as advanced driver assistance systems (ADAS), due to the evolution of autonomous vehicles. . LiDAR is one of the latest technology used in automotive safety developments and solutions that are being used to make solid-state LiDARs using VCSELs. Thisevolution toward the adoption of autonomous vehicles in the long term is projected to drive the growth of the automotive segment.
“North America is the second fastest growing market for VCSEL market by 2028”
North America is one of the major markets for VCSELs due to applications, such as consumer electronics, data centers, and commercial & industrial segments. Lumentum (US), II-VI Incorporated (US), and Broadcom (US) are some of the major players operating in this region. Chipmakers and OEM buyers of VCSELs are expected to face the impacts of the recession and the resultant decrease in demand for consumer electronics such as laptops, PCs, and smartphones. These factors are likely to lead to a decline in the growth of the VCSEL market in 2023. The market is expected to register moderate growth in the next 2–3 years in North America.
Breakdown of the profiles of primary participants:
•By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
•By Designation: C-level Executives - 40%, Directors - 40%, and Others - 20%
•By Region: North America - 40%, Europe - 30%, Asia Pacific - 20%, and RoW - 10%
The VCSEL market is dominated by a few globally established players such as Lumentum (US), Coherent Corporation (US), ams-OSRAM (Austria), TRUMPF (Germany), Broadcom (US), Leonardo Electronics (US), MKS Instruments (US), Santec (Japan), VERTILAS (Germany), Vertilite (China), Alight Technologies (Denmark), Inneos (US), IQE (UK), Thorlabs (UK), TT Electronics (UK), Ushio America (US), WIN Semiconductors (Taiwan), and Frankfurt Laser Company (Germany).
Research Coverage
The report segments the VCSEL market and forecasts its size, by value and volume, based on region (Asia Pacific, Europe, North America, and RoW), type (multi-mode, single mode), wavelength (red, NIR, SWIR), material (GaAs, InP, other), data rate, application, and industry (consumer electronics, data center, automotive, commercial & industrial, healthcare, and military).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the VCSEL market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the VCSEL market and provides them information on key market drivers, restraints, challenges, and opportunities.
1INTRODUCTION27
1.1STUDY OBJECTIVES27
1.2MARKET DEFINITION27
1.2.1INCLUSIONS AND EXCLUSIONS28
1.3STUDY SCOPE29
FIGURE 1VCSEL MARKET: SEGMENTATION29
1.3.1YEARS CONSIDERED30
1.4CURRENCY CONSIDERED30
1.5UNITS CONSIDERED30
1.6STAKEHOLDERS30
1.7LIMITATIONS31
1.8SUMMARY OF CHANGES31
2RESEARCH METHODOLOGY32
2.1RESEARCH DATA32
FIGURE 2VCSEL MARKET: RESEARCH DESIGN32
2.1.1SECONDARY AND PRIMARY RESEARCH33
2.1.1.1Key industry insights34
2.1.2SECONDARY DATA34
2.1.2.1List of key secondary sources34
2.1.2.2Key data from secondary sources35
2.1.3PRIMARY DATA35
2.1.3.1Breakdown of primaries36
2.1.3.2Key data from primary sources37
2.2MARKET SIZE ESTIMATION37
2.2.1BOTTOM-UP APPROACH38
2.2.1.1Approach to arrive at market size using bottom-up analysis (demand side)38
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH39
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE)— DEMAND FOR VCSELS39
2.2.2TOP-DOWN APPROACH40
2.2.2.1Approach to obtain market size using top-down analysis (supply side)40
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH40
FIGURE 6MARKET SIZE ESTIMATION METHODOLOGY: (SUPPLY-SIDE)—IDENTIFICATION OF REVENUES GENERATED BY COMPANIES FROM VCSEL MARKET41
2.3MARKET BREAKDOWN AND DATA TRIANGULATION42
FIGURE 7DATA TRIANGULATION42
2.4RESEARCH ASSUMPTIONS43
2.4.1ASSUMPTIONS43
2.5PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION43
2.5.1RISK ASSESSMENT44
3EXECUTIVE SUMMARY45
3.1RECESSION IMPACT ANALYSIS45
FIGURE 8GDP GROWTH PROJECTION TILL 2023 FOR MAJOR ECONOMIES46
FIGURE 9RECESSION IMPACT ON VCSEL MARKET46
FIGURE 10MULTIMODE SEGMENT TO CAPTURE HIGHER MARKET SHARE IN 202347
FIGURE 11GAAS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD48
FIGURE 12NIR SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD48
FIGURE 1310.1 TO 25 GBPS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD49
FIGURE 14EMERGING AND OTHER APPLICATIONS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD49
FIGURE 15AUTOMOTIVE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD50
FIGURE 16VCSEL MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD51
4PREMIUM INSIGHTS52
4.1ATTRACTIVE OPPORTUNITIES FOR VCSEL MARKET PLAYERS52
FIGURE 17ADVANTAGES OF SOLID-STATE TECHNOLOGY, COMPACT DESIGN, AND ROBUSTNESS TO DRIVE VCSEL MARKET52
4.2VCSEL MARKET, BY TYPE52
FIGURE 18MULTIMODE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD52
4.3VCSEL MARKET, BY MATERIAL53
FIGURE 19GAAS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD53
4.4VCSEL MARKET, BY WAVELENGTH53
FIGURE 20NIR SEGMENT TO CAPTURE LARGEST MARKET SHARE DURING 2023–202853
4.5VCSEL MARKET, BY DATA RATE54
FIGURE 2110.1 TO 25 GBPS SEGMENT TO DOMINATE MARKET DURING 2023–202854
4.6VCSEL MARKET, BY APPLICATION54
FIGURE 22SENSING APPLICATION TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD54
4.7NORTH AMERICA: VCSEL MARKET, BY INDUSTRY AND COUNTRY55
FIGURE 23CONSUMER ELECTRONICS AND US TO BE LARGEST SHAREHOLDERS OF VCSEL MARKET IN NORTH AMERICA IN 202855
4.8VCSEL MARKET, BY COUNTRY55
FIGURE 24VCSEL MARKET TO RECORD HIGHEST CAGR IN ASIA PACIFIC IN 202855
5MARKET OVERVIEW56
5.1INTRODUCTION56
5.2MARKET DYNAMICS56
FIGURE 25IMPACT OF DRIVERS ON VCSEL MARKET56
FIGURE 26IMPACT OF OPPORTUNITIES ON VCSEL MARKET57
FIGURE 27IMPACT OF RESTRAINTS AND CHALLENGES ON VCSEL MARKET57
5.2.1DRIVERS58
5.2.1.1Growing adoption of 3D sensing applications in smartphones58
5.2.1.2Increasing application of VCSELs in data communication58
5.2.1.3Increased market investment for VCSEL manufacturing58
5.2.2RESTRAINTS59
5.2.2.1Limited data transmission range59
5.2.2.2Limitations of semiconductor materials hampering performance of VCSELs59
5.2.3OPPORTUNITIES59
5.2.3.1Use of VCSELs in LiDAR systems for automotive applications59
5.2.3.2Growing IoT market and data processing across commercial and government sectors60
5.2.3.3Growing adoption of VCSELs in consumer electronic devices60
5.2.4CHALLENGES60
5.2.4.1Manufacturing defects in VCSELs60
5.2.4.2Recession impact on smartphone market61
5.3TARIFFS AND REGULATIONS61
5.3.1TARIFF RELATED TO VCSELS61
5.4REGULATIONS62
5.4.1GLOBAL62
5.4.1.1International Electrotechnical Commission (IEC)62
5.4.2EUROPE62
5.4.2.1Restriction of Hazardous Substances (RoHS)62
5.4.2.2European Standards (EN)62
5.4.3US63
5.4.3.1American National Standards Institute (ANSI)63
5.4.3.2Food and Drug Administration (FDA)64
5.5CASE STUDY ANALYSIS64
5.5.1AMS-OSRAM PROVIDED VCSEL ARRAY FOR USE IN XIAOMI MI8 EXPLORER EDITION64
5.5.2OSRAM AND CHRONOPTICS COOPERATED ON DEVELOPMENT OF 3D TOF CAMERA KIT64
5.5.3AMBARELLA, LUMENTUM, AND ON-SEMICONDUCTOR COLLABORATED ON AI PROCESSING-BASED 3D SENSING FOR NEXT-GEN AIOT DEVICES65
5.5.4LUMENTUM SHOWCASED PHOTONIC SOLUTIONS AT ECOC 202065
5.5.5LEONARDO ELECTRONICS OFFERS LIDAR SYSTEMS LEVERAGING COMPANY VCSELS65
5.5.6ALIGHT TECHNOLOGIES DEVELOPING 10 GBPS 1,300 NM VCSEL65
5.5.7INNEOS DEVELOPED VCSELS FOR USE IN SATELLITES65
5.5.8IQE REACHED KEY MILESTONES WITH IQDN-VCSEL TECHNOLOGY65
5.5.9WIN SEMICONDUCTORS SUPPLIES VCSELS TO APPLE66
5.6AVERAGE SELLING PRICE OF VCSELS FOR VARIOUS END PRODUCTS66
TABLE 1ASP OF VCSELS USED IN VARIOUS END PRODUCTS66
FIGURE 28AVERAGE SELLING PRICE FORECAST OF VCSELS, 2020–2026 (USD)66
TABLE 2AVERAGE SELLING PRICE FORECAST OF VCSELS, 2020–2026 (USD)67
5.7VALUE CHAIN ANALYSIS68
FIGURE 29VALUE CHAIN ANALYSIS OF VCSEL ECOSYSTEM: R&D AND MANUFACTURING PHASES CONTRIBUTE MAXIMUM VALUE68
5.8ECOSYSTEM/MARKET MAP70
FIGURE 30VCSEL MARKET ECOSYSTEM70
5.8.1MANUFACTURERS70
5.8.2SUPPLIERS70
5.8.3DISTRIBUTORS71
5.8.4OEMS71
5.9TECHNOLOGY ANALYSIS71
5.9.1KEY TECHNOLOGIES71
5.9.1.13D camera71
5.9.1.2LiDAR71
5.9.2ADJACENT TECHNOLOGY72
5.9.2.1Edge emitter lasers (EELs)72
5.10TECHNOLOGY ANALYSIS72
5.10.1NEW MATERIALS USED IN MANUFACTURING OF VCSELS72
5.10.2MINIATURIZATION OF VCSELS72
5.10.3UNDER-DISPLAY VCSELS72
5.11PATENT ANALYSIS73
FIGURE 31PATENT APPLICATION TRENDS FOR VCSELS, 2016–202075
5.12TRADE DATA75
5.12.1TRADE DATA FOR HS CODE 85414075
TABLE 3IMPORT DATA FOR HS CODE 854140, BY COUNTRY, 2016–2020 (USD BILLION)76
TABLE 4EXPORT DATA FOR HS CODE 854140, BY COUNTRY, 2016–2020 (USD BILLION)76
5.13PORTER’S FIVE FORCES ANALYSIS77
TABLE 5VCSEL MARKET: PORTER’S FIVE FORCES ANALYSIS77
5.13.1INTENSITY OF COMPETITIVE RIVALRY77
5.13.2BARGAINING POWER OF SUPPLIERS77
5.13.3BARGAINING POWER OF BUYERS77
5.13.4THREAT OF SUBSTITUTES78
5.13.5THREAT OF NEW ENTRANTS78
5.14VCSEL MARKET: SUPPLY CHAIN78
5.15TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS79
FIGURE 32REVENUE SHIFTS FOR VCSEL MARKET79
6VCSEL FABRICATION METHODS80
6.1INTRODUCTION80
6.2SELECTIVE OXIDIZATION80
6.2.1LEADS TO PRODUCTION OF STRONG ELECTRICAL AND OPTICAL CONFINEMENT80
6.3ION IMPLANTATION80
6.3.1PROVIDES HIGHLY CONTROLLED APERTURE THAT LEADS TO HIGHER AND MORE STABLE PRODUCTIVITY OF VCSELS80
7APPLICATIONS OF VCSEL TECHNOLOGY IN SMARTPHONES81
7.1INTRODUCTION81
7.2DOT PROJECTOR81
7.2.1ENABLES FACIAL RECOGNITION FEATURE IN SMARTPHONES81
7.3TIME-OF-FLIGHT (TOF)81
7.3.1TOF MODULES USE VCSELS TO RELEASE INFRARED LIGHT81
7.3.2PROXIMITY SENSING82
7.4FLOOD ILLUMINATOR82
7.4.1VCSELS USED BY FLOOD ILLUMINATORS TO PROJECT INFRARED LIGHT USED TO ILLUMINATE FACE OF USERS82
8VCSEL MARKET, BY TYPE83
8.1INTRODUCTION84
FIGURE 33MULTIMODE SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD84
TABLE 6VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)84
TABLE 7VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)84
8.2SINGLE-MODE85
8.2.1SINGLE-MODE VCSELS USED FOR LOW-POWER APPLICATIONS85
TABLE 8SINGLE-MODE: VCSEL MARKET, BY MATERIAL, 2018–2022 (USD MILLION)85
TABLE 9SINGLE-MODE: VCSEL MARKET, BY MATERIAL, 2023–2028 (USD MILLION)85
TABLE 10SINGLE-MODE: VCSEL MARKET, BY WAVELENGTH, 2018–2022 (USD MILLION)86
TABLE 11SINGLE-MODE: VCSEL MARKET, BY WAVELENGTH, 2023–2028 (USD MILLION)86
8.3MULTIMODE86
8.3.1MULTIMODE VCSELS USED FOR HIGH-POWER APPLICATIONS86
TABLE 12MULTIMODE: VCSEL MARKET, BY MATERIAL, 2018–2022 (USD MILLION)86
TABLE 13MULTIMODE: VCSEL MARKET, BY MATERIAL, 2023–2028 (USD MILLION)87
TABLE 14MULTIMODE: VCSEL MARKET, BY WAVELENGTH, 2018–2022 (USD MILLION)87
TABLE 15MULTIMODE: VCSEL MARKET, BY WAVELENGTH, 2023–2028 (USD MILLION)87
9VCSEL MARKET, BY WAVELENGTH88
9.1INTRODUCTION89
FIGURE 34NIR SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD89
TABLE 16VCSEL MARKET, BY WAVELENGTH, 2018–2022 (USD MILLION)89
TABLE 17VCSEL MARKET, BY WAVELENGTH, 2023–2028 (USD MILLION)89
9.2RED90
9.2.1VCSELS IN RED BAND HAVE WAVELENGTHS IN BETWEEN 650 NM AND 750 NM90
TABLE 18RED: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)90
TABLE 19RED: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)90
9.3NEAR-INFRARED (NIR)91
9.3.1VCSELS IN NIR BAND HAVE WAVELENGTHS BETWEEN 750 NM AND 1,400 NM91
TABLE 20NIR: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)91
TABLE 21NIR: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)91
9.4SHORTWAVE INFRARED (SWIR)92
9.4.1VCSELS IN SWIR BAND HAVE WAVELENGTHS BETWEEN 1,400 NM AND 3,000 NM92
TABLE 22SWIR: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)92
TABLE 23SWIR: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)92
10VCSEL MARKET, BY MATERIAL93
10.1INTRODUCTION94
FIGURE 35GAAS-BASED VCSEL TO DOMINATE MARKET DURING FORECAST PERIOD94
TABLE 24VCSEL MARKET, BY MATERIAL, 2018–2022 (USD MILLION)94
TABLE 25VCSEL MARKET, BY MATERIAL, 2023–2028 (USD MILLION)94
10.2GALLIUM ARGESIDE (GAAS)95
10.2.1GAAS-BASED VCSELS TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD95
TABLE 26GAAS: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)95
TABLE 27GAAS: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)95
10.3INDIUM PHOSPHIDE (INP)96
10.3.1MORE EXPENSIVE THAN GAAS DUE TO MATERIAL COSTS AND SMALL WAFER SIZE96
TABLE 28INP: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)96
TABLE 29INP: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)96
10.4OTHERS97
10.4.1VCSELS IN THE SWIR BAND HAVE WAVELENGTH BETWEEN 1,400 NM AND 3,000 NM97
TABLE 30OTHERS: VCSEL MARKET, BY TYPE, 2018–2022 (USD MILLION)97
TABLE 31OTHERS: VCSEL MARKET, BY TYPE, 2023–2028 (USD MILLION)97
11VCSEL MARKET, BY APPLICATION98
11.1INTRODUCTION99
FIGURE 36SENSING SEGMENT TO HOLD LARGEST SHARE OF VCSEL MARKET DURING FORECAST PERIOD99
TABLE 32VCSEL MARKET, BY APPLICATION, 2018–2022 (USD MILLION)99
TABLE 33VCSEL MARKET, BY APPLICATION, 2023–2028 (USD MILLION)100
11.2SENSING100
11.2.13D SENSING101
11.2.1.1ToF camera101
11.2.1.1.1Proximity sensing101
11.2.1.1.1.1Proximity sensing widely used in smartphones101
11.2.1.2Structured light illumination101
11.2.1.2.1Increasing adoption of face recognition technologies in smart devices to create lucrative opportunities101
11.2.1.3Facial & gesture recognition102
11.2.1.3.1Increase in adoption of biometric technologies in smart devices to drive market102
11.2.2GAS SENSING102
11.2.2.1Single-mode VCSELs used for gas sensing in industrial environments102
11.2.3OPTICAL MICE102
11.2.3.1VCSEL-based optical mouse enables operations on various surfaces102
11.3DATA COMMUNICATION102
11.3.1OPTICAL TRANSCEIVERS & ACTIVE OPTICAL CABLES103
11.3.1.1Growing adoption of high data rate optical components in data centers to propel market103
11.4INDUSTRIAL HEATING & LASER PRINTING103
11.4.1ADDITIVE MANUFACTURING103
11.4.1.1VCSEL heating reduces thermal gradient in additive manufacturing103
11.4.2LASER PRINTING104
11.4.2.1Laser printing requires low-cost, single-mode VCSELs104
11.5EMERGING & OTHER APPLICATIONS104
11.5.1LIDAR104
11.5.1.1Developments in autonomous vehicles to create opportunities for applications of VCSELs in automotive LiDARs104
11.5.2IN-CABIN SENSING104
11.5.2.1Innovations in vehicle infotainment systems to boost demand for VCSELs104
11.5.3ATOMIC CLOCK & GPS105
11.5.3.1VCSELs make for compact and low-cost solutions for use in atomic clocks105
11.5.4MAGNETOMETER105
11.5.4.1Highly accurate detection of magnetic fields made possible with use of VCSEL-based magnetometers105
11.5.5INFRARED ILLUMINATION FOR SURVEILLANCE105
11.5.5.1VCSELs improve performance and visibility in security & surveillance applications105
11.5.6PULSE OXIMETRY106
11.5.6.1VCSELs provide benefits of narrower spectral linewidth emission for pulse oximetry applications106
12VCSEL MARKET, BY DATA RATE107
12.1INTRODUCTION108
FIGURE 37ABOVE 25 GBPS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD108
TABLE 34VCSEL MARKET FOR DATA COMMUNICATION, BY DATA RATE, 2018–2022 (USD MILLION)108
TABLE 35VCSEL MARKET FOR DATA COMMUNICATION, BY DATA RATE, 2023–2028 (USD MILLION)109
12.2UP TO 10 GBPS109
12.2.1VCSELS WITH DATA RATES UP TO 10 GBPS USED IN DATA COMMUNICATION APPLICATIONS109
TABLE 36VCSELS WITH DATA RATE UP TO 10 GBPS110
12.310.1 TO 25 GBPS110
12.3.1VCSELS WITH DATA RATE OF 10.1 TO 25 GBPS DOMINATED MARKET IN 2022110
TABLE 37VCSELS WITH DATA RATE OF 10.1 TO 25 GBPS111
12.4ABOVE 25 GBPS111
12.4.1VCSELS WITH DATA RATE ABOVE 25 GBPS TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD111
TABLE 38VCSELS WITH DATA RATE ABOVE 25 GBPS112
13VCSEL MARKET, BY INDUSTRY113
13.1INTRODUCTION114
FIGURE 38CONSUMER ELECTRONICS INDUSTRY TO BE LARGEST SHAREHOLDER OF VCSEL MARKET DURING FORECAST PERIOD114
TABLE 39VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)114
TABLE 40VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)115
13.2CONSUMER ELECTRONICS116
13.2.1CONSUMER ELECTRONICS HELD DOMINANT MARKET SHARE IN 2022116
TABLE 41CONSUMER ELECTRONICS: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)116
TABLE 42CONSUMER ELECTRONICS: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)116
TABLE 43CONSUMER ELECTRONICS: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)117
TABLE 44CONSUMER ELECTRONICS: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)117
TABLE 45CONSUMER ELECTRONICS: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)117
TABLE 46CONSUMER ELECTRONICS: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)118
TABLE 47CONSUMER ELECTRONICS: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)118
TABLE 48CONSUMER ELECTRONICS: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)118
TABLE 49CONSUMER ELECTRONICS: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD MILLION)119
TABLE 50CONSUMER ELECTRONICS: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD MILLION)119
13.3DATA CENTER119
13.3.1INCREASE IN DATA BANDWIDTH IN DATA CENTERS TO DRIVE DEMAND FOR VCSELS119
TABLE 51DATA CENTER: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)120
TABLE 52DATA CENTER: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)120
TABLE 53DATA CENTER: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)120
TABLE 54DATA CENTER: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)121
TABLE 55DATA CENTER: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)121
TABLE 56DATA CENTER: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)121
TABLE 57DATA CENTER: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)122
TABLE 58DATA CENTER: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)122
TABLE 59DATA CENTER: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD MILLION)122
TABLE 60DATA CENTER: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD MILLION)123
13.4AUTOMOTIVE123
13.4.1ADOPTION OF VCSELS IN AUTOMOTIVE LIDAR TO BOOST MARKET IN REST OF THE WORLD123
TABLE 61AUTOMOTIVE: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)123
TABLE 62AUTOMOTIVE: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)124
TABLE 63AUTOMOTIVE: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD THOUSAND)124
TABLE 64AUTOMOTIVE: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD THOUSAND)124
TABLE 65AUTOMOTIVE: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD THOUSAND)125
TABLE 66AUTOMOTIVE: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD THOUSAND)125
TABLE 67AUTOMOTIVE: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD THOUSAND)125
TABLE 68AUTOMOTIVE: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD THOUSAND)126
TABLE 69AUTOMOTIVE: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD THOUSAND)126
TABLE 70AUTOMOTIVE: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD THOUSAND)126
13.5COMMERCIAL & INDUSTRIAL127
13.5.1ADOPTION OF VCSELS ACROSS VARIOUS INDUSTRIAL APPLICATIONS TO FAVOR MARKET127
TABLE 71COMMERCIAL & INDUSTRIAL: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)127
TABLE 72COMMERCIAL & INDUSTRIAL: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)128
TABLE 73COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)128
TABLE 74COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)128
TABLE 75COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)129
TABLE 76COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)129
TABLE 77COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)129
TABLE 78COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)130
TABLE 79COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD THOUSAND)130
TABLE 80COMMERCIAL & INDUSTRIAL: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD THOUSAND)130
13.6HEALTHCARE131
13.6.1VCSELS USED FOR SCANNING AND IMAGING APPLICATIONS IN HEALTHCARE INDUSTRY131
TABLE 81HEALTHCARE: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)131
TABLE 82HEALTHCARE: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)131
TABLE 83HEALTHCARE: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)132
TABLE 84HEALTHCARE: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)132
TABLE 85HEALTHCARE: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)132
TABLE 86HEALTHCARE: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)133
TABLE 87HEALTHCARE: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)133
TABLE 88HEALTHCARE: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)133
TABLE 89HEALTHCARE: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD THOUSAND)134
TABLE 90HEALTHCARE: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD THOUSAND)134
13.7MILITARY134
13.7.1VCSELS USED FOR TACTICAL SURVEILLANCE AND OBSTACLE DETECTION IN MILITARY TASKS134
TABLE 91MILITARY: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)134
TABLE 92MILITARY: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)135
TABLE 93MILITARY: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2022 (USD MILLION)135
TABLE 94MILITARY: VCSEL MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)135
TABLE 95MILITARY: VCSEL MARKET IN EUROPE, BY COUNTRY, 2018–2022 (USD MILLION)136
TABLE 96MILITARY: VCSEL MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)136
TABLE 97MILITARY: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2022 (USD MILLION)136
TABLE 98MILITARY: VCSEL MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)137
TABLE 99MILITARY: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2018–2022 (USD THOUSAND)137
TABLE 100MILITARY: VCSEL MARKET IN REST OF THE WORLD, BY REGION, 2023–2028 (USD THOUSAND)137
14VCSEL MARKET, BY REGION138
14.1INTRODUCTION139
FIGURE 39VCSEL MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD139
TABLE 101VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)139
TABLE 102VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)140
14.2NORTH AMERICA140
14.2.1RECESSION IMPACT ON NORTH AMERICA140
FIGURE 40NORTH AMERICA: VCSEL MARKET SNAPSHOT141
TABLE 103NORTH AMERICA: VCSEL MARKET, BY COUNTRY, 2018–2022 (USD MILLION)141
TABLE 104NORTH AMERICA: VCSEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION)142
TABLE 105US: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)142
TABLE 106US: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)142
TABLE 107CANADA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)143
TABLE 108CANADA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)143
TABLE 109MEXICO: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)143
TABLE 110MEXICO: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)144
14.2.2US144
14.2.2.1US to dominate global VCSEL market during forecast period144
14.2.3CANADA144
14.2.3.1Data communication applications to drive market144
14.2.4MEXICO145
14.2.4.1Automotive industry to provide opportunities for market growth145
14.3EUROPE145
14.3.1RECESSION IMPACT ON EUROPE145
FIGURE 41EUROPE: VCSEL MARKET SNAPSHOT146
TABLE 111EUROPE: VCSEL MARKET, BY COUNTRY, 2018–2022 (USD MILLION)146
TABLE 112EUROPE: VCSEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION)147
TABLE 113UK: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)147
TABLE 114UK: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)147
TABLE 115GERMANY: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)148
TABLE 116GERMANY: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)148
TABLE 117FRANCE: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)148
TABLE 118FRANCE: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)149
TABLE 119REST OF EUROPE: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)149
TABLE 120REST OF EUROPE: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)149
14.3.2GERMANY150
14.3.2.1Germany to hold largest share of VCSEL market in Europe during forecast period150
14.3.3UK150
14.3.3.1Consumer electronics and communications sectors to drive market in UK150
14.3.4FRANCE150
14.3.4.1Demand from automotive industry to substantiate market growth150
14.3.5REST OF EUROPE150
14.4ASIA PACIFIC151
14.4.1RECESSION IMPACT ON ASIA PACIFIC151
FIGURE 42ASIA PACIFIC: VCSEL MARKET SNAPSHOT152
TABLE 121ASIA PACIFIC: VCSEL MARKET, BY COUNTRY, 2018–2022 (USD MILLION)152
TABLE 122ASIA PACIFIC: VCSEL MARKET, BY COUNTRY, 2023–2028 (USD MILLION)153
TABLE 123CHINA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)153
TABLE 124CHINA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)153
TABLE 125JAPAN: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)154
TABLE 126JAPAN: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)154
TABLE 127SOUTH KOREA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)154
TABLE 128SOUTH KOREA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)155
TABLE 129REST OF ASIA PACIFIC: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD MILLION)155
TABLE 130REST OF ASIA PACIFIC: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)155
14.4.2CHINA156
14.4.2.1China to account for largest share of VCSEL market in Asia Pacific during forecast period156
14.4.3JAPAN156
14.4.3.1Demand from consumer electronics and data center verticals to drive VCSEL market156
14.4.4SOUTH KOREA156
14.4.4.1VCSEL market in South Korea dominated by consumer electronics and telecommunications industries156
14.4.5REST OF ASIA PACIFIC157
14.5REST OF THE WORLD157
14.5.1RECESSION IMPACT ON REST OF THE WORLD157
TABLE 131REST OF THE WORLD: VCSEL MARKET, BY REGION, 2018–2022 (USD MILLION)157
TABLE 132REST OF THE WORLD: VCSEL MARKET, BY REGION, 2023–2028 (USD MILLION)157
TABLE 133SOUTH AMERICA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)158
TABLE 134SOUTH AMERICA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)158
TABLE 135MIDDLE EAST & AFRICA: VCSEL MARKET, BY INDUSTRY, 2018–2022 (USD THOUSAND)158
TABLE 136MIDDLE EAST & AFRICA: VCSEL MARKET, BY INDUSTRY, 2023–2028 (USD THOUSAND)159
14.5.2SOUTH AMERICA159
14.5.2.1South America to hold larger share of VCSEL market in RoW during forecast period159
14.5.3MIDDLE EAST AND AFRICA159
14.5.3.1VCSEL market in Middle East & Africa at nascent stage159
15COMPETITIVE LANDSCAPE160
15.1OVERVIEW160
15.2STRATEGIES ADOPTED BY KEY PLAYERS160
TABLE 137OVERVIEW OF STRATEGIES DEPLOYED BY VCSEL MANUFACTURERS160
15.2.1PRODUCT PORTFOLIO160
15.2.2REGIONAL FOCUS160
15.2.3MANUFACTURING FOOTPRINT161
15.2.4ORGANIC/INORGANIC GROWTH STRATEGIES161
15.3MARKET SHARE ANALYSIS: VCSEL MARKET, 2022161
TABLE 138DEGREE OF COMPETITION, 2022161
15.4FIVE-YEAR COMPANY REVENUE ANALYSIS162
FIGURE 43FIVE-YEAR REVENUE ANALYSIS OF TOP FOUR PLAYERS IN VCSEL MARKET162
15.5COMPANY EVALUATION QUADRANT162
15.5.1STARS162
15.5.2EMERGING LEADERS163
15.5.3PERVASIVE PLAYERS163
15.5.4PARTICIPANTS163
FIGURE 44VCSEL COMPANY EVALUATION QUADRANT, 2022164
15.5.5COMPANY FOOTPRINT165
TABLE 139OVERALL COMPANY FOOTPRINT165
TABLE 140COMPANY PRODUCT TYPE FOOTPRINT166
TABLE 141COMPANY INDUSTRY FOOTPRINT167
TABLE 142COMPANY REGION FOOTPRINT168
15.6START-UP/SME EVALUATION MATRIX169
TABLE 143LIST OF START-UP/SME COMPANIES IN VCSEL MARKET169
15.6.1PROGRESSIVE COMPANIES170
15.6.2RESPONSIVE COMPANIES170
15.6.3DYNAMIC COMPANIES170
15.6.4STARTING BLOCKS170
FIGURE 45VCSEL MARKET, START-UP/SME EVALUATION MATRIX, 2022171
15.7COMPETITIVE SCENARIOS AND TRENDS172
15.7.1PRODUCT LAUNCHES172
TABLE 144PRODUCT LAUNCHES, 2019–2022172
15.7.2DEALS175
TABLE 145DEALS, 2019–2022175
16COMPANY PROFILES178
16.1KEY PLAYERS178
(Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats)*
16.1.1COHERENT CORP.178
TABLE 146COHERENT: BUSINESS OVERVIEW178
FIGURE 46COHERENT: COMPANY SNAPSHOT179
16.1.2LUMENTUM184
TABLE 147LUMENTUM: BUSINESS OVERVIEW184
FIGURE 47LUMENTUM: COMPANY SNAPSHOT185
16.1.3AMS-OSRAM188
TABLE 148AMS-OSRAM: BUSINESS OVERVIEW188
FIGURE 48AMS-OSRAM: COMPANY SNAPSHOT189
16.1.4TRUMPF193
TABLE 149TRUMPF: BUSINESS OVERVIEW193
FIGURE 49TRUMPF: COMPANY SNAPSHOT194
16.1.5BROADCOM197
TABLE 150BROADCOM: BUSINESS OVERVIEW197
FIGURE 50BROADCOM: COMPANY SNAPSHOT198
16.1.6MKS INSTRUMENTS200
TABLE 151MKS INSTRUMENTS: BUSINESS OVERVIEW200
FIGURE 51MKS INSTRUMENTS: COMPANY SNAPSHOT201
16.1.7SANTEC203
TABLE 152SANTEC: BUSINESS OVERVIEW203
FIGURE 52SANTEC: COMPANY SNAPSHOT204
16.1.8LEONARDO ELECTRONICS206
TABLE 153LEONARDO ELECTRONICS: BUSINESS OVERVIEW206
16.1.9VERTILAS208
TABLE 154VERTILAS: BUSINESS OVERVIEW208
16.1.10VERTILITE209
TABLE 155VERTILITE: BUSINESS OVERVIEW209
16.2OTHER KEY PLAYERS210
16.2.1ALIGHT TECHNOLOGIES210
16.2.2TELEDYNE FLIR211
16.2.3INNEOS212
16.2.4IQE213
16.2.5THORLABS214
16.2.6TT ELECTRONICS215
16.2.7USHIO AMERICA216
16.2.8WIN SEMICONDUCTORS217
16.2.9FRANKFURT LASER COMPANY218
16.2.10INPHENIX, INC.218
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
17APPENDIX219
17.1DISCUSSION GUIDE219
17.2KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL223
17.3CUSTOMIZATION OPTIONS225
17.4RELATED REPORTS225
17.5AUTHOR DETAILS226
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