Vertical-Cavity Surface-Emitting Lasers Market Will Grow at a Healthy CAGR by 2027
The research report on vertical-cavity surface-emitting lasers market, in substance, presents an exclusive understanding of the vast expanse of the business space in question. The report comprises a gist of the industry by means of providing an executive summary, industry insights, industry ecosystem analysis, market segmentation, and global trends. Furthermore, the study also provides deliverables pertaining to the regulatory and competitive landscapes and the strategic perspectives of various industry contenders with respect to the market.
Proliferation of data centers on global fronts, coupled with rising adoption of digital solutions is generating enormous amounts of data which has accelerated the adoption of technologies offering high speed and efficient data transmission. One of such technologies are Vertical-Cavity Surface-Emitting Lasers which is observing elevating demand across various industry verticals such as healthcare, automobile, Defense, Aerospace, etc. Given that, vertical-cavity surface-emitting lasers market is set to witness tremendous growth over following years. allowing it to record a remuneration of USD 5 billion by 2027.
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Considering the enormous applications of Vertical-Cavity Surface-Emitting Lasers, several industry players are focusing on the development of advanced solutions which is positively influencing the market space. For instance, in 2021, Korea based leading semiconductor manufacturer Seoul Viosys announced that it has successfully developed vertical cavity surface emitting laser (VCSEL) technology, based near-field-only 25Gbps laser diode appropriate for 5G wired networks for efficient transmission and reception, and has reportedly commenced mass production of these VCSELs.
Gallium nitride based VCSELs are gaining huge attention among industry players on account of their excellent characteristics such as suitability for high-frequency operations, lower threshold current, high efficiency, array formation capability and lower cost of manufacturing. Owing to these features, Gallium nitride VCSELs have the potential to replace conventional LEDs for projectors, optical storage, laser printer, biosensors, solid-state lighting and various optical communications. Due to wide product demand, gallium nitride segment had secured a market share of more than 6.5% in 2020 and is expected to grow exponentially over time.
VCSELs find extensive usage in industrial heating systems as they provide intense and directed infrared radiation and can eliminate the need for additional optics. Besides, VCSEL’s ability to offer higher optical efficiency with smaller footprint and lower cost has instigated its demand for high-definition high-speed printing. Increasing digitalization in the industrial sector and rising trend of digital image processing are supporting the adoption of VCSEL based offset printers as they provide enhanced images and reduce narrow lines. For the records, in 2020, industrial heating & laser printing segment across vertical-cavity surface-emitting lasers market had secured a sizeable market share of 9% and is estimated to record an appreciable CAGR of 20.6% through 2027.
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In terms of regional outlook, vertical-cavity surface-emitting lasers market in Europe secured a sizeable market share of 18% in 2020 and is expected to register a significant CAGR of around 19.5% through 2027. The growth can be credited to thriving semiconductor industry in the region backed by supportive government initiatives. As a result of COVID-19 outbreak, supply chain of the regional industry was affected which urged the market players to reduce their dependency on Asian countries. This in turn increased investment activities in regional semiconductor industry, which is highly complementing VCSEL business across Europe.
Major Key Points from Table of Content:
Chapter 5 Vertical-Cavity Surface-Emitting Lasers Market, By Type
5.1 Key trends, by type
5.2 Single-mode
5.2.1 Vertical-cavity surface-emitting lasers market estimates and forecast, 2016 - 2027
5.3 Multi-mode
5.3.1 Market estimates and forecast, 2016 – 2027
Chapter 6 Vertical-Cavity Surface-Emitting Lasers Market, By Material Type (Revenue, Shipments)
6.1 Key trends, by material type
6.2 Gallium arsenide (GaAs)
6.2.1 Market estimates and forecast, 2016 - 2027
6.3 Indium phosphide (InP)
6.3.1 Market estimates and forecast, 2016 - 2027
6.4 Gallium nitride
6.4.1 Market estimates and forecast, 2016 - 2027
6.5 Others
6.5.1 Market estimates and forecast, 2016 – 2027
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