VCSEL Market to See Wonderful Rise during 2023-2030 with High CAGR Growth to 17.0%

The VCSEL Market size is projected to grow from US$ 1.4 billion in 2022 to US$ 4.7 billion by 2030; it is estimated to record a CAGR of 17.0% from 2023 to 2030.

The growing adoption of VCSEL for 3D sensing applications, such as smartphones for gesture control and facial recognition features, contribute to the VCSEL market growth. In addition, the use of VCSEL for data communication and LiDAR system for automotives propels the market growth. The rising integration of technologies such as IoT across various industries such as healthcare, automotive, and building necessitates using fiber optics communication technologies, contributing to the demand and adoption of VCSEL.

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Analysis of the Top Market Players:

1. Lumentum Holdings Inc
2. Coherent Corp
3. TRUMPF SE + Co KG
4. Broadcom Inc
5. ams-OSRAM AG
6. Vertilite Co Ltd
7. Leonardo SpA
8. IQE Plc
9. VERTILAS GmbH
10. Hamamatsu Photonics KK

In this report, the market has been segmented on the basis of:

Type
• Single Mode
• Multi-Mode

Material
• Gallium Arsenide (GaAs)
• Indium Phosphide (InP)

Data Rate
• Up to 10 GBPS to 25 GBPS
• Above 25 GBPS

Wavelength
• Red
• Near Infrared (NIR)
• Short Wave Infrared (SWIR

Application
• Sensing
• Data Communication
• Industrial Heating & Printing

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According to the International Organization of Motor Vehicle Manufacturers, in 2022, India, China, Indonesia, South Korea, and Thailand witnessed a significant rise in vehicle production. Additionally, regional and global automotive manufacturers are investing in establishing new vehicle production plants across the region. For instance, in March 2022, Triton Electric Vehicle LLC announced the launch of its new production plant in Gujarat, India. In addition, in June 2022, BMW announced the opening of its new electric vehicle production plant in China with an investment of US$ 2.2 billion. Thus, such growing investments in the automotive industry increase the demand for sensing technology for newly built automobiles. In the automotive industry, VSCEL technology in automotives is used for various sensor applications inside and outside the automotive cabin, contributing to the demand for VCSEL market in the region.

The COVID-19 pandemic adversely affected various industries in the North American region and directly impacted the overall spending. According to the Center for Strategic and International Studies, owing to the pandemic, the US experienced a contraction in GDP in the second quarter of 2020. The COVID-19 pandemic led to the temporary closure of manufacturing plants in the countries of North America. The manufacturing delays and component shortage faced challenge in sourcing raw materials and components leading to the production constraints. These disruptions impacted the availability and delivery of VCSEL products, which negatively impacted the VCSEL market size.

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