Dublin, Aug. 08, 2018 (GLOBE NEWSWIRE) -- The "VCSEL Market by Material (GaAs, InP, GaN), Type (Single Mode and Multimode), Application (Data Communication, Sensing, IR Illumination, Pumping, Industrial Heating, and Emerging Applications), End User, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The VCSEL market is expected to reach USD 3.89 billion by 2023 from USD 1.78 billion in 2018, at a CAGR of 16.9% from 2018 to 2023.

This growth can be attributed to the rising adoption of VCSELs in proximity sensing and medical applications, increasing use of VCSELs for data communication, growing usage of VCSELs in infrared illumination, and surge in demand for VCSELs with advancements in automotive electronics. However, limited data transmission range restricts the growth of the VCSEL market.

The market for emerging applications is expected to grow at the highest CAGR during the forecast period. VCSELs are being widely used in emerging applications such as LiDAR, night vision, atomic clock, GPS, magnetometer, and display. Presently, this market is in the nascent stage, but it is expected to witness high growth in the coming years owing to the use of VCSELs for high-quality vision and obstacle detection, among others.

Data center accounted for the largest share of the VCSEL market, by end user, in 2017. Data centers largely use 850nm-emitting VCSELs, especially for applications wherein the size of the data transmitted over a network is extremely large. In data centers, high data transfer rates are extremely important as they allow fast transmission of data for processing and obtaining results. As the adoption of data analytics is increasing in businesses across the world to improve decision-making capabilities, demand for VCSELs in data centers is further expected to rise during the forecast period.

The Americas accounted for a major share of the overall VCSEL market in 2017. The Americas is the largest market for VCSELs due to the demand for these devices from technology giants such as Facebook (US), Google (US), Apple (US), and Amazon (US). Moreover, the growing emphasis of businesses on the use of cloud infrastructure has contributed to the increasing demand for VCSEL-based optical transceivers in the Americas.

The VCSEL market is expected to grow at the highest CAGR in APAC from 2018 to 2023. This growth can be attributed to the rising number of data centers and increasing demand for consumer electronic devices and premium automobiles. APAC countries such as China, India, Singapore, and Indonesia are emerging as hubs for data centers owing to advancements in basic telecom infrastructure and encouragement from respective governments.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for VCSEL Market Growth
4.2 VCSEL Market, By Material
4.3 VCSEL Market in APAC, By Application and Country
4.4 VCSEL Market, By End User
4.5 VCSEL Market, By Region
4.6 Country-Wise Analysis of VCSEL Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Adoption in Proximity Sensing and Medical Applications
5.2.1.2 Increasing Use of VCSELs for Data Communication
5.2.1.3 Growing Usage of VCSELs in Infrared Illumination
5.2.1.4 Surge in Demand for VCSELs With Advancements in Automotive Electronics
5.2.2 Restraints
5.2.2.1 Limited Data Transmission Range
5.2.3 Opportunities
5.2.3.1 Technological Advancements in Consumer Electronics Sector
5.2.3.2 Evolution of Laser-Based Hard Disc Drive Technology
5.2.4 Challenges
5.2.4.1 to Overthrow the Limitations of Gallium Nitride Restricting the Performance of VCSELs
5.3 Value Chain Analysis

6 VCSEL Market, By Material
6.1 Introduction
6.2 Gallium Arsenide (GAAS)
6.3 Indium Phosphide (INP)
6.4 Gallium Nitride (GAN)
6.5 Others

7 VCSEL Market, By Type
7.1 Introduction
7.2 Single Mode
7.3 Multimode

8 VCSEL Market, By Application
8.1 Introduction
8.2 Data Communication
8.3 Sensing
8.3.1 Optical Sensor
8.3.1.1 Reflective Sensor
8.3.1.2 Scattering Sensor
8.3.2 Interference Sensor
8.4 Infrared Illumination
8.4.1 Camera
8.4.1.1 3D Camera
8.4.1.2 Security and Surveillance Camera
8.5 Pumping
8.6 Industrial Heating
8.7 Emerging Applications
8.7.1 Display
8.7.2 High-Power Applications
8.7.2.1 LiDAR
8.7.2.2 Night Vision
8.7.3 Atomic Clock
8.7.4 GPS
8.7.5 Magnetometer

9 VCSEL Market, By End User
9.1 Introduction
9.2 Data Center
9.3 Consumer Electronics
9.4 Automotive
9.5 Industrial
9.6 Healthcare
9.7 Military

10 VCSEL Market, By Region

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Competitive Scenario
11.3.1 Product Launches
11.3.2 Acquisitions and Expansions
11.3.3 Collaborations and Partnerships

12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 Finisar
12.2.2 Lumentum
12.2.3 Broadcom
12.2.4 Philips Photonics
12.2.5 II-VI
12.2.6 IQE
12.2.7 AMS Technologies
12.2.8 Vixar
12.2.9 Santec
12.2.10 Vertilas
12.3 Other Key Players
12.3.1 Coherent
12.3.2 TT Electronics
12.3.3 Newport
12.3.4 Neophotonics
12.3.5 Necsel Intellectual Property
12.4 Key Innovators
12.4.1 Agiltron
12.4.2 Alight Technologies
12.4.3 Ultra Communications
12.4.4 Laser Components
12.4.5 Litrax Technology Co.

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Related Topics: Semiconductor