According to the report, the global VCSEL market accounted for around USD 760.00 million in 2015 and is expected to reach USD 2,414.91million by 2021, growing at a CAGR of around 21.3% between 2016 and 2021.
VCSEL stands for vertical-cavity surface-emitting laser. VCSELs are the type of semiconductor lasers, more specifically laser diodes with a monolithic laser resonator in which the emitted light leaves the device in a direction perpendicular to the chip surface. The laser resonator is realized with the two semiconductors Bragg mirrors. Between those, there is an active region (gain structure) with (typically) several quantum wells and a total thickness of only a few micrometers.
The growth of VCSEL market is mainly attributed to growing number of data centers, advancement in automotive electronics and increasing demand from high-end applications such as gesture recognition and 3D imaging. In addition, technological developments enabling greater use of VCSEL in infrared illumination is expected to boost the VCSEL market in coming years. However, restriction to short-distance communication due to the limited range of VCSEL is expected to have the adverse impact on VCSEL market. Even so, emerging laser-assisted hard disk drive technology is likely to open new doors for the VCSEL market in near future.
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Based on application, global VCSEL market is bifurcated into data communication, industrial heating, infrared illumination, pumping and sensing applications. Data communication was leading application segment of global VCSEL market and expected to maintain its dominance throughout the forecast period owing to the construction of new data centers for data analytics coupled with escalating cloud computing solutions. It accounted for over 57% of the share of the entire market in 2015. Sensing and infrared illumination are expected to experience significant growth in the year to come. Data centers, consumer electronics, automotive, industrial, healthcare, and others are the end user segment of VCSEL market. Data center and automotive end user segment are expected to be the most attractive end-user segment in the forecast period.
North America emerged as the dominating regional market for VCSEL in 2015 and predicted to maintain a steady growth rate throughout the forecast period. Rising number of data centers and growing automotive sector is expected to be the key factor driving the growth of VCSEL market in Asia Pacific. China is expected to held largest market share in Asia Pacific owing to rising application sector like sensing. Europe is expected to show significant growth and growth of this region is mainly attributed to rising use of VCSEL in consumer electronics.
Some of the key players in the VCSEL market are Avago Technologies, JDS Uniphase Corporation, Philips Photonics, Princeton Optronics, Inc., II-VI Incorporated, Vixar, Inc., and Ultra Communications, Inc. amongst others.