VCSEL for Data Communication Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type ; Material
Sep 15, 2020, 13:10 ET
NEW YORK, Sept. 15, 2020 /PRNewswire/ -- The VCSEL for data communication market was valued at US$ 284.05million in 2019 and is projected to reach US$ 1,135.68 million by 2027; it is expected to grow at a CAGR of 19.7% during the forecast period.
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The VCSEL technology products continue to attract notable investments from several international market players and visionaries to leverage the commercial scope of this technology across different industry verticals.As a result, there have been significant investments in the establishment of state-of-the-art production and manufacturing facilities for these products in developed as well as developing countries.
As a result, there have been significant investments in the establishment of state-of-the-art production and manufacturing facilities for these products in developed as well as developing countries. For instance, in 2019, the European Commission invested € 25.0 million to set-up a new VCSEL-based manufacturing plant in Berlin, Germany, which is capable of mass production of the semiconductor chips focused on datacom and sensing based applications. Similarly, Huawei, a global telecom giant, invested in Vertilite, a Chinese start-up, specialized in the development of a broad range of VCSEL products for numerous applications, including data communication.
Based on material, the VCSEL for the data communication market is segmented into Gallium Nitride (GaN), Gallium Arsenide (GaAs), Indium Phosphide (InP), and Other.Gallium arsenide accounted for more than 50% market share in 2019.
The demand is attributed to its increase in usage compared to other materials, owing to advantages offered such as speed for data communication.Based on type, the multi-mode segment led the market in 2019 and is expected to witness a higher CAGR during the forecast period.
Multi-mode VCSELs are the preferred type as they confer modulation enhancements over proton VCSELs and consistent improvements over single-mode VCSELs.
In terms of geography, APAC led the VCSEL for the data communication market in 2019.VCSELs are extensively used across several applications owing to advantages such as high reliability, compact size, low power requirements, and low manufacturing costs.
The growth of the telecommunication sector in APAC, and increasing usage of internet and cloud architecture are propelling the market growth in this region.
The overall VCSEL for data communication market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the VCSEL for data communication market.
The process also serves the purpose of obtaining overview and forecast for the VCSEL for data communication market with respect to all the segments.It also provides the overview and forecast for the global VCSEL for data communication market based on all the segmentation provided with respect to four major regions-North America, Europe, Asia Pacific, and the Rest of World.
Also, primary interviews were conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts and key opinion leaders specializing in the VCSEL for data communication market.
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