The VCSEL market is expected to witness decent growth in view of numerous technological advancements. In the biomedical sector, VCSEL is used in diagnostic applications such as Optical Coherence Tomography (OCT) and neurostimulation due to its wide range of offered features like improved image range, high speed, and flexibility.

Proliferation in the construction of data centers across the world along with rising inclination towards social networking is expected to offer a considerable boost to VCSEL manufacturers. In data centers, VCSEL are used to enable efficient handling of high volume of data generation and allows enterprises to transmit data at high-speed.

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Wide spread adoption of smartphones, tablets, and various smart devices that include advanced features such as proximity sensing and laser autofocus is expected to augment the supply of VCSEL in the consumer electronics sector. In view of the assortment of applications of VCSEL in diverse sectors, Global Market Insights, Inc., suggests that the global VCSEL market may exceed USD 5 billion by 2027.

Elaborating on the key trends emerging in the VCSEL industry:

1. Impact of the COVID-19 pandemic

The COVID-19 pandemic has played a key role in influencing VCSEL business growth. The recent trend of working from home to curtail the spread of the virus and not getting affected by the disease has accelerated the demand for computing devices and telecom infrastructure, adding new opportunities to VCSEL manufacturers. However, international rules and regulations have disrupted the import and export of electronic components, hindering market growth.

1. Gaining popularity of gallium nitride VCSEL

Owing to superior characteristics like array formation capability, high efficiency, threshold current, low manufacturing costs, and applicability for high-frequency operations, gallium nitride is gaining constant popularity among VCSEL manufacturers. These features help in adding the potential for GaN-based VCSELs to substitute conventional LEDs for optical storage, biosensors, laser printer, projectors, solid-state lighting, and various optical communications. As per a report, the gallium nitride held a market share of over 6.5% in 2020.

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1. Extensive demand for VCSEL in Europe

The Europe VCSEL market is expected to grow extensively due to rising initiatives to accelerate the semiconductor industry expansion in the region. The COVID-19 pandemic has severely affected the import and export business worldwide and has taught everyone to be less dependent on other countries for products. This is expected to be a major factor boosting the production of VSCEL in the region providing growth opportunities for local players. The Europe VCSEL market held a market share of 18% in 2020, and is expected to grow at a CAGR of around 19.5% from 2021 to 2027.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Scope & definition

1.2    Methodology & forecast

1.3    Data Sources

1.3.1    Primary

1.3.2    Secondary

Chapter 2   Executive Summary

2.1    VCSEL market 360⁰ synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Type trends

2.1.4    Material type trends

2.1.5    Wavelength trends

2.1.6    Application trends

2.1.7    Industry vertical trends

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