London, Feb. 02, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled, “VCSEL (Vertical-cavity Surface-emitting Laser) Market by Type (Multi-mode VCSEL, Single-mode VCSEL), Material, Application, End User (Consumer Electronics, IT & Telecom, Industrial, Aerospace & Defense, Healthcare, Automotive), and Geography—Global Forecast to 2027,” the VCSEL market is expected to record a CAGR of 21.5% from 2020 to 2027 to reach $3.73 billion by 2027. The VCSEL market in terms of volume is estimated to grow at a CAGR of 31.9% from 2020 to 2027 to reach 3,854.3 million units by 2027.
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The VCSEL (Vertical-cavity Surface-emitting Laser) market is driven by factors such as the growing adoption of VCSEL for 3D-sensing applications and the growing use of VCSEL in data centers. 3D sensing is the largest application of VCSEL in mobile devices. In recent years, several companies have implemented VCSELs in smartphones for facial recognition. For instance, Apple Inc. used VCSEL technology in its iPhone X, launched in 2017. Apple uses VCSEL technology for its Face ID, portrait, and “Animoji” selfie modes in the iPhone X, and also for proximity sensing in its AirPods. FaceID is used for unlocking the phone by using facial recognition by combining three VCSELs.
Another sensing application of VCSEL is in the automotive sector. VCSELs are used in semi- and fully-autonomous vehicles for 3D-sensing applications. VCSEL is a laser diode that acts as a cost-effective technology in implementing advanced driver assistance systems (ADAS) in both long- and short-range LiDAR, along with in-cabin sensing. Long-range LiDAR, which covers a distance of up to 200 meters, is used to detect objects in front of the vehicle. It provides data regarding collision avoidance, pedestrian detection, and emergency braking. Short-range LiDAR with a range of 10-50 meters is used to scan the area around the bumpers. It identifies objects which have already been detected by the long-range LiDAR.
The proliferation of data centers is also one of the major driving factors for the VCSEL market. VCSELs are used in data centers for the fast transmission of data. An increase in the number of internet users has led to a rise in the volume of digital data, creating the need for high-capacity and more efficient data storage infrastructure. Emerging technologies such as the Internet of Things (IoT), Big Data, and cloud computing are further augmenting the growth of data centers. The rising adoption of cloud computing for flexible and scalable services has led to the proliferation of data centers, thereby driving the market for VCSEL.
The short-distance data-transmission range of VSCEL and scalability issues are the key factors hampering the growth of the VCSEL market. An increase in the distance reduces the speed of data transmission between locations. VCSEL is an effective technology for short-range applications such as LAN, optical data communication, ethernet, and intrasystem links. It can transfer data up to a distance of 100 meters and hence does not allow data transmission over long distances. The limited-output optical power in VCSELs does not allow sensors to cover long distances for data transmission.
Factors such as the application of VCSEL in vehicle automation and emerging technologies are expected to create growth opportunities for market players in the VCSEL market during the forecast period. VCSEL is expected to be one of the major components of fully autonomous vehicles. The VCSELs in autonomous cars will measure distance and speed, track the location of occupants, and prevent collision of the vehicles while parking. As soon as the vehicle recognition system of a car recognizes the driver, it will automatically adjust mirror and seat positions, temperature, and personalized infotainment, as per set preferences. Various automotive supply chain participants are collaborating with VCSEL market players to develop automated vehicle monitoring system components. For instance, Ibeo Automotive Systems GmbH (Germany) partnered with ams AG to create an auto LiDAR development team, aiming for on-road adoption by 2021. VCSEL technology is a core component of Ibeo’s newly developed solid-state LiDAR solution, ibeoNEXT.
The Impact of COVID-19 on the VCSEL Market
The COVID-19 pandemic has caused an economic downturn as several countries imposed strict lockdowns to contain the infection, severely affecting many industries, including manufacturing. There has been a significant impact on technology supply chains globally. The consumer electronics segment, one of the prominent adopters of VCSEL, has seen a significant drop in its sales during the COVID-19 pandemic. The crisis has led to a decline in industrial activities leading to a slowdown in the production of key semiconductor components. Since China is a major semiconductors hub, disruptions in this region had a severe impact on companies across the globe and enterprises in the electronics value chain. Consumer electronics is one of the key segments which had witnessed a significant decline in 2020. Due to the drastic fall in demand and supply chain disruptions, manufacturers have slowed down production. The smartphone market witnessed an overall decline of more than 10% in 2020, which has had a considerable impact on the growth of the VCSEL market.
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Furthermore, halted automotive manufacturing worldwide has also severely impacted the VCSEL market. For instance, the shutting down of automotive component manufacturing facilities in China due to the pandemic-induced lockdown caused a huge shortage of critical components for manufacturers in North America. Advancements in technologies, such as autonomous driving, are expected to be delayed as OEMs and investors have reduced innovation funding to focus on everyday cash-management issues. Projects such as the testing of autonomous vehicles have been postponed, further impacting the demand for VCSEL technology.
The VCSEL market has been segmented based on type, material, application, end user, and geography.
Based on type, the VCSEL market has been segmented into multi-mode VCSEL and single-mode VCSEL. The single-mode VCSEL segment is expected to record the higher CAGR during the forecast period. The increasing use of mobile applications has accelerated the demand for single-mode VCSELs globally. Single-mode VCSELs are mainly used to save power for longer battery life and improve user experience. They are used in mobile phones, wireless laser mice, and mobile industry applications due to their low power consumption, high power output, and high efficiency.
Based on material, the VCSEL market has been segmented into Gallium Arsenide, Gallium Nitride, Indium Phosphide, and other materials. The Gallium Arsenide segment is projected to register the highest CAGR during the forecast period due to the material’s suitable light sources, direct bandgap, high electron mobility, low noise, and high conversion efficiency. Gallium Arsenide serves various applications, such as high-speed data transmission, high-resolution printing, and pumping of solid-state and fiber lasers. Also, Gallium Arsenide has low manufacturing costs and provides a longer life span to VCSELs, due to which many industries use this material.
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Based on application, the VCSEL market has been segmented into sensing, data communication, industrial heating, laser printing, LiDAR, pulse oximetry, and other applications. The sensing segment is further segmented into 3D sensing, gas sensing, and optical mice. The sensing segment is expected to grow at the highest CAGR and account for the largest revenue share during the forecast period due to the wide applications of VCSEL, such as facial and gesture recognition in smartphones and vehicle infotainment systems.
Based on end user, the market has been segmented into consumer electronics, IT & telecom, industrial, aerospace & defense, healthcare, and automotive. The consumer electronics segment is expected to record the highest CAGR and account for the largest revenue share during the forecast period due to the high adoption of VCSEL by several major smartphone players such as Apple, Huawei, Oppo, and Xiaomi, for facial and gesture recognition applications.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and the rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2020, North America commanded the largest share of the global VCSEL market, followed by Europe. However, Asia-Pacific region is expected to record the highest CAGR during the forecast period. High growth in APAC can be attributed to factors such as the large consumer electronics industry, both in terms of supply and demand, various ongoing autonomous vehicle projects, and the proliferation of data centers across countries such as China, Singapore, India, and many Southeast Asian countries.
The key players operating in the global VCSEL market are Lumentum Operations LLC (U.S.), II-VI Incorporated (U.S.), ams AG (Austria), Broadcom (U.S.), TRUMPF (Germany), Osram Opto Semiconductors GmbH (Germany), IQE PLC (U.K.), VERTILAS GmbH (Germany), Vertilite (China), FLIR Systems, Inc. (U.S.), Thorlabs, Inc. (U.S.), Leonardo S.p.A. (Italy), TT Electronics (U.K.), Photonwares Co. (U.S.), and Inneos LLC (U.S.) among others.
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Report Scope:
VCSEL Market, by Type
- Multi-mode VCSEL
- Single-mode VCSEL
VCSEL Market, by Material
- Gallium Arsenide
- Gallium Nitride
- Indium Phosphide
- Other Materials
VCSEL Market, by Application
- Sensing
- 3D Sensing
- Gas Sensing
- Optical Mice
- Data Communication
- Industrial Heating
- Laser Printing
- LiDAR
- Pulse Oximetry
- Other Applications
VCSEL Market, by End User
- Consumer Electronics
- IT & Telecom
- Industrial
- Aerospace & Defense
- Healthcare
- Automotive
VCSEL Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
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