The Vertical Cavity Surface Emitting Laser (VCSEL) market is projected to grow at a CAGR of 26.26% to reach US$3,830.323 million by 2024, from US$945.455 million in 2018. Vertical cavity surface emitting laser (VCSEL) is the semiconductor-based laser diode which emits an efficient optical beam vertically from the topmost surface. The major factors driving the demand for VCSEL are increasing adoption of these lasers for various applications including data transfer, proximity sensing and for infrared illumination. North America and Europe held a significant market share owing to the rising expenditure on research and development activities and early adoption of technology. The Asia Pacific region will witness impressive growth over the forecast period.
DRIVERS
• Implementation of front 3D imaging feature in the smartphones.
• Growing applications in intelligent and autonomous vehicles.
RESTRAINTS
• Availability of substitute
INDUSTRY UPDATE
• Finisar Corporation expanded its 3D VCSEL production capacity with the opening of its new facility in Sherman, Texas in July 2018.
• In December 2018, TRUMPF acquired Photonics GmbH from Philips – a leader in VCSEL market, enabling them to enter the new market and expand its existing portfolio.
Segmentation
The global VCSEL market has been analyzed through the following segments:
• By Material
o Gallium Arsenide
o Indium Phosphide
o Gallium Nitride
o Others
• By Type
o Single Mode
o Multimode
• By End-User Industry
o Consumer Electronics
o Automotive
o Telecommunication
o Healthcare
o Military and Defense
o Industrial
• By Geography
o North America
? USA
? Canada
? Mexico
o South America
? Brazil
? Argentina
? Others
o Europe
? United Kingdom
? Germany
? France
? Spain
? Others
o Middle East and Africa
? Israel
? Others
o Asia Pacific
? Japan
? China
? India
? South Korea
? Others
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