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Browse in-depth TOC on "VCSEL Market"
214 – Tables
78 – Figures
307 – Pages
VCSEL Market Report Scope:
Report Coverage |
Details |
Market Revenue in 2024 |
$ 1.3 billion |
Estimated Value by 2029 |
$ 1.9 billion |
Growth Rate |
Poised to grow at a CAGR of 8.1% |
Market Size Available for |
2020–2029 |
Forecast Period |
2024–2029 |
Forecast Units |
Value (USD Million/Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
By Type, Material, Data Rate, Wavelength, & Region |
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge |
Managing intellectual property rights and patent issues |
Key Market Opportunities |
Rise in adoption of VCSEL into medical imaging and biomedical sensing applications |
Key Market Drivers |
Expanding use of facial recognition and biometric security systems |
By data rate, the above 25 Gbps segment is projected to grow at high CAGR of the VCSEL market during the forecast period.
The market for VCSELs above 25 Gbps data rate is projected to grow at the highest CAGR during the forecast period. VCSELs in this category are tailored for ultra-high-speed data communication, which is crucial for next-generation data centers, large-scale cloud computing environments, and advanced telecommunications networks. These VCSELs boast extremely high modulation speeds, advanced wavelength stability, and the ability to support very high data rates over short and long distances. VCSELs are designed to meet the stringent demands of emerging technologies like 5G networks, artificial intelligence (AI), and machine learning (ML) applications, which require rapid and reliable data transfer. In February 2023, Coherent Corp. (US) introduced 100G PAM4 VCSEL and photodiode (PD) arrays designed for 800G short reach datacom pluggable transceivers and active optical cables (AOCs), setting a new benchmark in high-speed data communication technology. These VCSELs, manufactured on a vertically integrated 6-inch gallium arsenide platform, are at the forefront of the industry, addressing the increasing demand from cloud and AI service providers for ultra-high-speed data transmission solutions. The deployment of such transceivers and AOCs in hyperscale data center expansions is driving the growth of VCSELs above 25 Gbps.
By type, the single-mode segment is projected to grow at a significant rate during the forecast period.
The single-mode VCSEL market is expected to register a significant growth rate during the forecast period. The precision and stability of single-mode VCSELs make them suitable for emerging applications in sensing and metrology. They are used in environmental monitoring, medical diagnostics, and industrial process control. As these fields continue to advance and require more accurate sensing solutions, the demand for single-mode VCSELs is expected to rise. For instance, in June 2024, TRUMPF (Germany), a leading provider of VCSEL solutions for industrial and consumer sensing, demonstrated the performance of their single-mode VCSEL solutions at Sensor Test, a trade fair in Germany. These compact and robust laser sources support optical sensing systems, offering wavelengths from 760 nm to 940 nm, suitable for industrial environments. Single-mode VCSELs provide precise measurements due to their narrow spectral linewidth, enabling accurate detection of small changes. Their compactness and energy efficiency make them ideal for portable devices and reduce power consumption in larger systems. With fast modulation capabilities, they enhance real-time monitoring and response across various applications.
The Indium-Phosphide segment is projected to grow at a significant CAGR of the VCSEL market during the forecast period.
The InP-based VCSEL segment will grow at a significant rate during the forecast timeframe. Increasing demand for high-speed data transmission in data centers and telecom sectors will drive the InP VCSELs market growth. The InP-based VCSELs offer superior performance at longer wavelengths. The rising need for longer-wavelength VCSELs in medical and industrial sensing applications favors InP-based devices. Adding to this, the companies are extensively focusing on enhancing their InP materials and wafer manufacturing capabilities to stay competitive in the market. In March 2024, Coherent Corp. (US) established capability for 6-inch indium phosphide (InP) wafer fabrication in the company's Sherman, Texas and Järfälla, Sweden wafer fabs. The company plans to transition most of its production from 3-inch to 6-inch InP wafers soon. This move aims to take advantage of the benefits that come with larger wafers, such as better yields and improved performance. By doing so, the company hopes to maintain a strong competitive position in its communications and sensing markets.
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North America is poised for significant growth in the VCSEL market by 2029.
The US, Canada, and Mexico are the major contributors to the North American VCSEL industry. North America is a dominant contributor to the VCSEL market in terms of market share. Leading companies in North America, such as Coherent Corp. (US), Lumentum Operations LLC (US), Broadcom (US), and MKS Instruments (US), provide VCSELs to various industries. These companies invest significantly in R&D to improve the efficiency, reliability, and performance of VCSEL technology. This includes advancements in materials science, manufacturing processes, and design techniques to meet the evolving demands of different industries in the region. VCSEL companies in North America collaborate with government agencies research institutions, and industry partners to drive technological innovation and expand market reach. These players are participating in consortiums, standardization efforts, and strategic alliances to accelerate the adoption of VCSEL technology in emerging sectors thus supporting the market growth in North America.
Key Market Players
Key companies operating in the VCSEL companies are Coherent Corp. (US), Lumentum Operations LLC (US), ams-OSRAM AG (Austria), TRUMPF (Germany), Broadcom (US), MKS Instruments (US), Santec Holdings Corporations (Japan), Leonardo Electronics US, Inc. (US), VERTILAS GmbH (Germany), and Vertilite (China).
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