Market Overview
A vertical cavity surface emitting laser is a type of semiconductor laser diode with laser beam emission. Vertical cavity surface emitting lasers are used in multiple existing and advanced 3ad sensor systems. It uses both structured light and ToF technologies. It has a wide range of applications from 3D facial identification, the world-facing camera on Mobile to light detection and in-cabin sensing for vehicles. The growing demand for computer and television displays and the need for higher resolution, thinner profiles, and large size is driving the growth of the VCSEL market size.
An increasing number of data centers all around the world that is driven by the cloud computing and wireless communication market is so boosting the opportunity for the vertical cavity surface emitting laser (VCSEL) industry. The automotive industry has a huge part in the vertical cavity surface emitting laser market. The adoption of driverless vehicles, data transmission, and medical imaging in the automotive industry is one of the reasons behind VCSEL market growth. It is hard to replace LED Technology for the vertical cavity surface emitting laser market, but the laser light makes it useful where LED won’t work.
The global VCSEL market size is expected to grow $4.85 billion with a CAGR of 17.1% in the forecast period. The vertical cavity surface emitting laser has so many benefits over the edge emitting diodes. It takes less cost to manufacture VCSEL in quantity, it is easier to test, and it more efficient. VCSEL needs less electrical current to produce an output. The VCSEL emits a narrow beam than the traditional edge emitters. Due to so many advantages and advancements of technology, the VCSEL maker size is increasing, and it is expected to increase more in the forecast period.
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Market segmentation
The vertical cavity surface emitting laser market is divided on the basis of type, material, end-user, and region. The type of vertical cavity surface emitting laser market includes single-mode and multi-mode. The material segment of the vertical cavity surface emitting laser market includes gallium, indium phosphide, gallium nitride, and others. The vertical cavity surface emitting laser market end-user segment includes consumer electronics (mobiles, cameras, face recognition, and other), automotive industry (air quality monitoring, driver monitoring, LiDAR, and other), healthcare sector (eye-tracking, pulse oximeter, and others), the industrial sector ( gas sensing, heating systems, printing, and others), IT ( data communications, optical cables, and others). The VSCELE region segment includes regions such as North America, Europe, Asia Pacific, and other regions.
Regional overview
Globally the major regions of the vertical cavity surface emitting laser (VCSEL) industry are North America, Asia Pacific, Europe, South America, and Middle East & Africa. The North American region has the highest Vcsel market growth, and it is dominating the market. However, Asia Pacific is growing at a faster rate due to the region has smartphone manufacturing, semiconductor manufacturing, and electronics manufacturing industries. This region also has large mobile companies that are driving the Vcsel market growth. Rising demand for IT and telecommunication equipment that use VCSEL, adoption of devices for energy in all the regions across the world have a huge impact on the growth of VCSEL market size.
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