MarketandMarkets’ research report, “VCSEL Market by Material, Type, Application, End User, and Geography - Global Forecast to 2023”, finds the market is estimated to be worth $1.78 billion now and is projected to reach $3.89 billion by 2023, at a CAGR of 16.9% from 2018 to 2023. The market is driven by rising adoption of VCSELs in proximity sensing and medical applications, increasing use of VCSELs for data communication, growing usage of VCSELs in infrared illumination, and surge in demand for VCSELs with advancements in automotive electronics.
- Single-mode VCSEL market to grow at higher CAGR during forecast period
- Data communication held largest share of VCSEL market in 2017
- Americas is a major consumer of VCSELs
- Key players in the market are Finisar (US), Lumentum (US), Broadcom (US), Philips Photonics (Germany), II-VI (US), IQE (UK), AMS Technologies (Germany), Vixar (US), Santec (Japan), VERTILAS (Germany), Agiltron (US), Alight Technologies (Denmark), Ultra Communications (US), Laser Components (Germany), Litrax Technology (Taiwan), Coherent (US), TT Electronics (UK), Newport (US), NeoPhotonics (US), and Necsel Intellectual Property (PD-LD) (US).
For greater enlightenment, browse the “VCSEL Market - Global Forecast to 2023” report.