North America’s VCSEL Industry Soars with Innovations in Laser Technology
Chicago, Nov. 14, 2023 (GLOBE NEWSWIRE) — The growth of the VCSEL Market size in North America is due to the growing number of technological innovations in field of laser technology for various application areas such as medical, telecommunication, military, and automotive. The increase in R&D activities, particularly in the military and defense industries, has propelled the demand for VCSEL in the region. As of 2021, the annual military expenditure in the US was about 3.6% of the global GDP of the country. This will create lucrative growth opportunities for VCSEL in military applications. Apart from this, increasing application of VCSEL in the healthcare sector is one of the major market drivers.
Download PDF Brochure:
Scope of the Report
|Estimated Value||USD 1.6 billion in 2023|
|Projected Value||USD 2.9 billion by 2028|
|Growth Rate||13.6% from 2023 to 2028|
|Market size availability for years||2018–2028|
|Base year considered||2022|
|Forecast units||Value (USD Thousand/Million/Billion) and Volume (Million Units)|
|Segments covered||By Type, Material, Wavelength, Application, Data Rate, and Industry|
|Geographies covered||Asia Pacific, Europe, North America, and Rest of the World|
The VCSEL market encompasses a range of segments, including:
Type: The market is categorized into Single-Mode and Multi-Mode VCSELs.
Material: Key materials include Gallium Arsenide (GaAs), Gallium Nitride (GaN), Indium Phosphide (InP), and others.
Application: VCSELs find applications in data communication, sensing, infrared illumination, pumping, industrial heating, and emerging applications.
End User: The market serves various industries, including data centers, automotive, consumer electronics, healthcare, industrial, and aerospace & defense.
REQUEST SAMPLE: –
Several factors are driving the growth of the VCSEL market, including:
Rising Demand for High-Speed Data Transmission: VCSELs are integral for high-speed data transmission in data centers and emerging applications.
Increasing Adoption in 3D Sensing: VCSELs are crucial for depth-sensing applications in smartphones and other consumer electronics.
Expanding Applications: VCSELs are finding applications in automotive LiDAR systems, industrial heating, and infrared illumination.
Efficiency and Compactness: VCSELs offer high efficiency and compact form factors, making them ideal for various applications.
Technological Advancements: Continuous innovations in VCSEL technology enhance their capabilities and expand their applications.
While the VCSEL market holds immense potential, it also faces challenges, including:
Cost Constraints: The production of high-quality VCSELs can be cost-intensive.
Competitive Landscape: The market is highly competitive, with several key players vying for market share.
Supply Chain Disruptions: Global supply chain disruptions can impact the production and availability of VCSEL components.
Emerging Applications: VCSELs are increasingly being adopted in emerging applications, creating new growth opportunities.
Technological Advancements: Ongoing research and development efforts are likely to yield advanced VCSEL solutions.
Market Expansion: The increasing use of VCSELs in various industries is expanding the market’s reach.
Prominent players in the VCSEL market include:
- II-VI Incorporated
- Lumentum Holdings Inc.
- Broadcom Inc.
- Finisar (II-VI)
- Coherent, Inc.
- IQE PLC
- Princeton Optronics, Inc.
- Vixar, Inc. (Osram)
The VCSEL market is set to experience substantial growth, driven by technological advancements, expanding applications, and the increasing demand for high-speed data transmission. As the market evolves, key players continue to innovate and expand their product offerings to meet the growing needs of various industries.
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: email@example.com
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.