The global vertical-cavity surface-emitting lasers (VCSELs) market is expected to reach $3,990.6 million by 2022, registering a CAGR of 21.9% during the forecast period (2016–2022). The market is mainly buoyed by rising adoption of VCSELs in the data communication industry and surge in demand for VCSELs in consumer electronics, such as smartphones, tablets, and televisions.
Based on material, the VCSELs market is classified into gallium nitride (GaN), gallium arsenide (GaAs), indium phosphide (InP), and others; wherein, others include gallium indium arsenide antimonide (GaInAsSb) and indium gallium nitride (InGaN). Among these, the GaAs category held the largest share in the market in 2015.
VCSEL is a semiconductor-based laser diode that is used in optical sensors and emits high power optical laser beam vertically from its top surface. It is reliable and offers high efficiency in optical sensors based on transmission, scattering, reflection, absorption, interference, reflection, and others. For instance, VCSEL is highly used in many applications including laser printers and computer mouse; wherein, it uses reflective sensors or imaging techniques to perceive objects. Along with this feature, the VCSEL offers high precision, therefore, it is used in medical applications such as computed radiography imaging, optical nerve stimulation, medical diagnostics, and therapeutics.
Multi-element VCSEL arrays offer around one watt continuous wave (CW) optical power coupled with low facet power density to provide high wall-plug efficiency. Owing to this, the demand for VCSELs is increasing in various applications including aerospace, LiDAR, illumination, night vision, and line-of-sight communication links operating at three gigabits per second (Gbps). Hence, rising deployment of VCSELs in these applications is fueling the growth of the VCSELs market.
The growing demand for cost-effective VCSELs is driving the market growth. VCSELs are used in applications including plastic optical fiber (POF)-based home networking, atomic clock technology, bar code sensor, and others. This is due to the fact that the VCSELs have unique characteristic such as high speed and low cost as compared to light-emitting diodes (LEDs). Additionally, VCSELs have been used extensively in the telecom industry, owing to their high-speed supporting capabilities, such as 10/40/100 Gbps ethernet, 16 Gbps fiber channel (FC) data infrastructure links, which are supporting the VCSELs market growth. With the growing demand for 1 Gbps POF-based home networking, the telecom industry has witnessed a proliferation in demand for low-cost VCSELs, which in turn, would propel the demand for VCSELs in the coming years.
Some of the key companies operating in the global VCSELs market include Alight Technologies ApS, Avago Technologies Ltd., Finisar Corporation, Phillips Photonics, Litrax Technology Co. Ltd., Sumitomo Electric Industries Ltd., PD-LD Inc., OECA Optoelectronics Component and Applications GmbH, and Sacher Lasertechnik GmbH.
VERTICAL-CAVITY SURFACE-EMITTING LASERS (VCSELs) MARKET SEGMENTATION