(EMAILWIRE.COM, March 31, 2020 ) The VCSEL market size is estimated to grow from USD 1.8 billion in 2018 to USD 3.9 billion by 2023, at a CAGR of 16.9%. The growth of the VCSEL market is driven by factors such as rising adoption in proximity sensing and medical applications, increasing use of VCSEL for data communication, growing usage of VCSELs in infrared illumination, and surge in demand for VCSELs with advancements in automotive electronics. Technological advancements in consumer electronics sector and evolution of laser-based hard disc drive technology are few major factors that are expected to provide growth opportunities to players in the vertical cavity surface emitting laser (VCSEL) market.

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Driver: Rising adoption in proximity sensing and medical applications

The introduction of new features, such as a variety of package form factors, a wider range of wavelength availability, and the demonstration of arrays of VCSELs on a single chip, in VCSELs has created an important impact on medical diagnostic applications. Some VCSEL-based applications in the healthcare sector are neurostimulation and optical coherence tomography (OCT). New applications are emerging in biomedicine and are using VCSELs that offer high speed, flexibility, and extended imaging range. VCSELs provide a precise measurement of rapid blood flow in the optical nerve head, which helps detect diseases related to eyes at an early stage.

Restraint: Limited data transmission range

The VCSEL market size is estimated to grow from USD 1.8 billion in 2018 to USD 3.9 billion by 2023, at a CAGR of 16.9%. The growth of the VCSEL market is driven by factors such as rising adoption in proximity sensing and medical applications, increasing use of VCSEL for data communication, growing usage of VCSELs in infrared illumination, and surge in demand for VCSELs with advancements in automotive electronics. Technological advancements in consumer electronics sector and evolution of laser-based hard disc drive technology are few major factors that are expected to provide growth opportunities to players in the vertical cavity surface emitting laser (VCSEL) market.

VCSEL has been an effective technology for short-range applications, such as local area network (LAN), optical data communication, Ethernet, and intrasystem links. The ever-growing data has raised the need for large-data-capacity and cost-effective architecture of fiber optics network. Laser suppliers always try to improve on the distance range served by their products. As attenuation is higher in multimode optical fiber, the optical signal degrades faster with distance, thereby shortening the achievable distance, but it has more to do with the fiber than the laser. Transmitting this data over a certain distance can prove problematic due to the weakening of the signal.

Opportunity: Technological advancements in consumer electronics sector

VCSELs have huge growth potential owing to emerging applications and are expected to boost new opportunities in the consumer electronics market. VCSEL-based time-of-flight (ToF) sensors are widely used in smartphones for distance measurement, as well as proximity sensing. Today, several devices, such as smartphones and tablets, offer navigation by touch screens or even voice and gesture recognition; several other smart sensors in such devices are based on advanced optical solutions.

Americas is a major consumer of VCSELs

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 Americas has always been at the forefront in terms of the adoption of new technologies, such as gesture recognition, self-driving cars, and ADAS. This is also expected to drive market growth.

The report profiles the most promising players in the market. The market is highly dynamic because of the presence of a significant number of big and small players operating in it. Key players in the market are Finisar (US), Lumentum (US), Broadcom (US), Philips Photonics (Germany), II-VI (US), IQE (UK), AMS Technologies (Germany), Vixar (US), Santec (Japan), VERTILAS (Germany), Agiltron (US), Alight Technologies (Denmark), Ultra Communications (US), Laser Components (Germany), Litrax Technology (Taiwan), Coherent (US), TT Electronics (UK), Newport (US), NeoPhotonics (US), and Necsel Intellectual Property (PD-LD) (US).

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